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.
Global Partners LP (NYSE: GLP) has announced a cash distribution of $0.6550 per unit, amounting to $2.62 annually, for all outstanding common units covering January 1, 2023 to March 31, 2023. This distribution will be paid on May 15, 2023 to unitholders of record by May 9, 2023. The press release also highlights that 100% of GLP’s distributions to non-U.S. investors are subject to federal income tax withholding. Global Partners operates one of the largest networks of gasoline stations and convenience stores in the Northeast, and is engaged in the transportation of petroleum products and renewable fuels.
Global Partners LP (NYSE: GLP) will release its first-quarter 2023 financial results before the market opens on May 5, 2023. A conference call for investors and analysts will be held at 10:00 a.m. ET, featuring President and CEO Eric Slifka, CFO Gregory B. Hanson, and COO Mark Romaine. Investors can access the call via phone or the company’s website. Global Partners operates approximately 1,700 gasoline stations and convenience stores in the Northeast and manages one of the largest terminal networks in New England and New York for distributing fuels. The Partnership focuses on the transportation of petroleum products and renewable fuels by rail from the U.S. and Canada.
Global Partners LP (NYSE: GLP) has announced a cash distribution of
Additionally, a cash distribution of
Non-U.S. investors will face federal income tax withholding at the highest applicable rate on these distributions.
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