STOCK TITAN
  1. Home
  2. News
  3. GLP

Global Partners LP - GLP STOCK NEWS

Welcome to our dedicated page for Global Partners LP news (Ticker: GLP), a resource for investors and traders seeking the latest updates and insights on Global Partners LP stock.

Global Partners LP (GLP) is a publicly traded master limited partnership specializing in midstream logistics and marketing. With a significant presence in the Northeast, the company boasts one of the largest terminal networks for petroleum products and renewable fuels. GLP’s core business involves the purchasing, selling, storing, and transportation of these products, ensuring a steady supply to wholesalers, retailers, and commercial customers across New England and New York.

One of GLP’s distinguishing features is its extensive distribution network. The company is a major distributor of gasoline, distillates, residual oil, and renewable fuels. Additionally, it operates a virtual pipeline that facilitates the transportation of crude oil and other products from the Midwest and Canada to both U.S. coasts, enhancing the efficiency and reach of its operations.

GLP’s retail operations are equally impressive, with nearly 1,600 locations primarily in the Northeast. These include well-known convenience store brands such as Alltown, Mr. Mike's, Xtramart, On the Run, and Fast Freddie's. This makes GLP one of the largest independent owners, suppliers, and operators of gasoline stations and convenience stores in the region.

The company operates through three primary segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial. The Wholesale segment generates the most revenue, underscoring its importance to GLP’s overall business model.

In recent years, GLP has achieved notable milestones, including its ranking at No. 180 on the Fortune 500 list of America’s largest companies. This reflects its robust financial health and strategic growth initiatives.

Overall, Global Partners LP stands as a key player in the energy sector, known for its extensive network, diverse product offerings, and significant contributions to the regional fuel supply chain.

News

Global Partners LP Reports Fourth-Quarter and Full-Year 2023 Financial Results

Rhea-AI Summary
Global Partners LP (GLP) reported strong financial results for Q4 and full year 2023, highlighted by key acquisitions and market growth. CEO Eric Slifka mentioned transformative acquisitions with Motiva Enterprises and ExxonMobil, leading to increased storage capacity and market diversification. Despite a slight decrease in net income, GLP saw growth in EBITDA, adjusted EBITDA, DCF, and adjusted DCF. The company's GDSO segment product margin increased significantly, driven by higher fuel margins. GLP's recent private offering of senior unsecured notes and cash distribution to unitholders demonstrate financial stability and commitment to growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.13%
Tags
earnings
-
News

Global Partners LP to Host Fourth-Quarter and Full-Year 2023 Financial Results Conference Call on February 28, 2024

Rhea-AI Summary
Global Partners LP (GLP) will release its Q4 and full-year 2023 financial results on February 28, 2024. The conference call will be hosted by key executives, including the President and CEO. Investors and analysts can access the call via phone or online.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.62%
Tags
conferences earnings
-
News

Global Partners Declares Fourth-Quarter 2023 Cash Distribution of $0.7000 on Common Units

Rhea-AI Summary
Global Partners LP (GLP) has declared a cash distribution of $0.7000 per unit ($2.80 per unit on an annualized basis) on all of its outstanding common units from October 1, 2023 through December 31, 2023. The distribution will be paid on February 14, 2024 to unitholders of record as of the close of business on February 8, 2024. The company also provided qualified notice to brokers and nominees that hold GLP units on behalf of non-U.S. investors regarding federal income tax withholding at a rate equal to the highest applicable effective tax rate plus ten percent (10%).
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.17%
Tags
none
News

Global Partners Announces Cash Distributions on Series A and B Preferred Units

Rhea-AI Summary
Global Partners LP (GLP) announced a cash distribution of $0.77596 per unit on its Series A preferred units and $0.59375 per unit on its Series B preferred units. The distribution rates are 12.42% and 9.50% respectively, with a payment date of February 15, 2024. Non-U.S. investors are subject to federal income tax withholding at a rate equal to the highest applicable effective tax rate plus ten percent (10%).
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.21%
Tags
none
-
News

Global Partners LP Announces Pricing of Private Offering of Senior Notes

Rhea-AI Summary
Global Partners LP (GLP) has priced its private offering of $450 million in 8.250% senior unsecured notes due 2032, co-issued by GLP Finance Corp. and guaranteed by certain subsidiaries.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.02%
Tags
offering
-
News

Global Partners LP Announces Private Offering of Senior Notes

Rhea-AI Summary
Global Partners LP (NYSE: GLP) announced a private offering of $450 million in senior unsecured notes due 2032. The company intends to use the net proceeds to repay borrowings and for general corporate purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.62%
Tags
offering
News

Global Partners LP Completes Acquisition of 25 Liquid Energy Terminals from Motiva Enterprises LLC

Rhea-AI Summary
Global Partners LP (NYSE: GLP) has completed the acquisition of 25 liquid energy terminals from Motiva Enterprises LLC for $305.8 million, supported by a 25-year guaranteed take-or-pay throughput agreement. This acquisition nearly doubles Global's operating footprint, expanding its presence from Maine to Florida and into the Gulf Coast. With the addition of these terminals, Global now owns or leases 49 liquid energy terminals in the United States, totaling approximately 18.3 million barrels in shell capacity. The purchase is expected to result in an EBITDA multiple below 7.0x in the second year of ownership.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.02%
Tags
acquisition
-
News

Global Partners Reports Third-Quarter 2023 Financial Results

Rhea-AI Summary
Global Partners LP (NYSE: GLP) reported Q3 2023 financial results and the acquisition of 25 liquid energy terminals from Motiva Enterprises LLC for $305.8 million. Net income was $26.8 million, a decrease from $111.4 million in 2022. Gross profit was $228.5 million, down from $328.4 million. The company announced a quarterly cash distribution of $0.6850 per common unit.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.08%
Tags
earnings
-
News

Global Partners LP to Acquire 25 Liquid Energy Terminals from Motiva Enterprises LLC

Rhea-AI Summary
Global Partners LP (NYSE:GLP) has entered into an asset purchase agreement with Motiva Enterprises LLC to acquire 25 liquid energy terminals along the Atlantic Coast, in the Southeast and in Texas for $305.8 million in cash. The acquisition will increase Global's terminal capacity by 85% to 18.3 million barrels and expand its geographic reach, underpinned by a 25-year guaranteed take-or-pay throughput agreement with Motiva.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.08%
Tags
acquisition
News

Global Partners LP to Host Third-Quarter 2023 Financial Results Conference Call on November 9, 2023

Rhea-AI Summary
Global Partners LP will release its third-quarter 2023 financial results on November 9, 2023. A conference call for investors and analysts will be held at 10:00 a.m. ET.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.07%
Tags
conferences earnings

FAQ

What is the current stock price of Global Partners LP (GLP)?

The current stock price of Global Partners LP (GLP) is $51.89 as of January 22, 2025.

What is the market cap of Global Partners LP (GLP)?

The market cap of Global Partners LP (GLP) is approximately 1.8B.

What does Global Partners LP do?

Global Partners LP specializes in the logistics and marketing of petroleum products and renewable fuels, including transportation, storage, and distribution.

Where are Global Partners LP's operations primarily located?

Global Partners LP operates primarily in the Northeast, including Massachusetts, Maine, Connecticut, Vermont, and other areas.

What are the primary business segments of Global Partners LP?

The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.

What kind of products does Global Partners LP distribute?

GLP distributes gasoline, distillates, residual oil, renewable fuels, crude oil, natural gas, and propane.

How extensive is Global Partners LP's retail network?

Global Partners LP has nearly 1,600 gasoline stations and convenience stores primarily in the Northeast.

What are some of the convenience store brands operated by Global Partners LP?

The company operates several convenience store brands such as Alltown, Mr. Mike's, Xtramart, On the Run, and Fast Freddie's.

What is the significance of Global Partners LP's virtual pipeline?

The virtual pipeline allows GLP to efficiently transport crude oil and products from the Midwest and Canada to the U.S. coasts, improving distribution capabilities.

How does Global Partners LP rank among America's largest companies?

Global Partners LP is ranked No. 180 on the Fortune 500 list.

Which business segment generates the most revenue for Global Partners LP?

The Wholesale segment is the highest revenue-generating segment for GLP.

What recent achievements has Global Partners LP accomplished?

GLP's significant achievements include its robust financial performance and strategic initiatives, solidifying its ranking on the Fortune 500 list.
Stock GLP logo
Global Partners LP

NYSE:GLP

GLP Rankings

#2075 Ranked by Market Cap
#522 Ranked by Dividends

GLP Stock Data

1.77B
27.55M
18.92%
44.44%
2.08%
Oil & Gas Midstream
Wholesale-petroleum Bulk Stations & Terminals
Link
United States of America
WALTHAM