Global Partners LP - GLP STOCK NEWS

Global Partners LP (NYSE: GLP) appointed Clare McGrory to its Board of Directors effective March 1. McGrory, CFO and CCO at Atairos, brings extensive experience from her prior role as CFO at Sunoco, LP (NYSE: SUN), where she contributed to long-term growth initiatives. This addition increases the board to 7 members, 5 of whom are independent. McGrory's finance expertise is expected to align with Global's strategic goals, enhancing leadership and operational execution. Global Partners operates approximately 1,700 gas stations across the Northeast and mid-Atlantic, making it a major player in regional petroleum distribution.

Global Partners LP (NYSE: GLP) announced that it has filed its Annual Report on Form 10-K for the year ending December 31, 2022, with the U.S. Securities and Exchange Commission (SEC) on February 27, 2023. The report is accessible for viewing and download on Global's website and the SEC's website. Global Partners, a significant player in the Northeast with approximately 1,700 locations, operates gasoline stations and convenience stores, and has a vast terminal network for distributing petroleum products. For more details, stakeholders can contact Global Partners Investor Relations.

Global Partners LP (NYSE: GLP) reported strong financial results for Q4 and full year 2022, achieving a net income of $57.5 million ($1.54 per diluted unit), compared to $19.3 million ($0.44) in Q4 2021. EBITDA reached $105.3 million, up from $65.7 million, with distributable cash flow rising to $57.3 million from $30.5 million. Wholesale segment margins more than doubled, driven by effective inventory management amidst market volatility. Total sales for Q4 increased to $4.4 billion from $4.1 billion year-over-year. The company also announced a cash distribution of $1.5725 per unit for Q4, reflecting robust operational performance.

Global Partners LP (NYSE: GLP) will announce its fourth-quarter and full-year 2022 financial results on February 27, 2023, before the market opens. A conference call for investors and analysts will follow at 10:00 a.m. ET, featuring key executives, including President Eric Slifka and CFO Gregory B. Hanson. The call can be accessed via phone or through the Global Partners website, where both live and archived audio will be available. With around 1,700 locations in the Northeast, Global Partners is a major supplier and operator in gasoline and convenience retailing, as well as a significant player in petroleum transportation.

Global Partners LP (NYSE: GLP) has declared a cash distribution of $1.5725 per unit for the period from October 1, 2022 to December 31, 2022. This includes a quarterly distribution of $0.6350 per unit and a one-time special distribution of $0.9375. The payments are scheduled for February 14, 2023, to unitholders on record as of February 8, 2023. The company has waived its incentive distribution rights related to the special distribution. Additionally, non-U.S. investors will face federal income tax withholding on these distributions at a specified rate.

Global Partners LP (NYSE: GLP) announced a cash distribution of $0.609375 per unit for its Series A preferred units, and $0.59375 per unit for Series B preferred units for the period between November 15, 2022 and February 14, 2023. Payments are due on February 15, 2023, to holders registered before February 1, 2023. Importantly, distributions to non-U.S. investors will face the highest federal income tax withholding as they are considered effectively connected with a U.S. trade or business.

Global Partners operates over 1,700 gasoline stations and convenience stores primarily in the Northeast, holding a significant terminal network in New England.

Global Partners LP (GLP) announced a $2 million donation to provide heating oil to low-income households in seven Northeastern states amidst rising energy costs. This initiative aims to assist approximately 4,000 homes this winter, particularly in Massachusetts and New York, which will each receive $650,000 of the donation. The increase in energy prices has been attributed to international factors, including reduced Russian gas supply due to the war in Ukraine. The donation underscores Global's commitment to community support during challenging economic conditions.

Global Partners LP (NYSE: GLP) reported strong financial results for Q3 2022, showing a net income of $111.4 million ($3.12 per unit), significantly up from $33.6 million ($0.86 per unit) in Q3 2021. Total revenue reached $4.6 billion, a substantial increase from $3.3 billion year-over-year. The Gasoline Distribution and Station Operations segment thrived, driven by higher retail fuel margins and strategic acquisitions, increasing its footprint with the acquisition of Tidewater Convenience. Adjusted EBITDA rose to $168.5 million, up from $79.2 million in Q3 2021.

Global Partners LP (NYSE: GLP) has declared a quarterly cash distribution of $0.6250 per unit, amounting to $2.50 annually, for the period from July 1, 2022 to September 30, 2022. This distribution will be paid on November 14, 2022, to unitholders of record as of November 8, 2022. The press release also notes that distributions to non-U.S. investors will be subject to federal income tax withholding at the highest applicable effective tax rate.