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) is set to release its first-quarter 2022 financial results before markets open on May 6, 2022. A conference call will follow at 10:00 a.m. ET, hosted by key executives including President and CEO Eric Slifka and CFO Gregory B. Hanson. Interested parties can join the call by dialing (877) 709-8155 for U.S. participants or (201) 689-8881 internationally. The call will also be available for replay on the Global Partners website.
Global Partners LP (NYSE: GLP) announced a cash distribution for Series A and Series B preferred units. Series A will yield $0.609375 per unit ($2.4375 annualized) from February 15 to May 14, 2022, payable on May 16, 2022. Series B will yield $0.59375 per unit ($2.375 annualized) for the same period, also payable on May 16, 2022. This release provides guidance for non-U.S. investors, indicating that distributions are subject to federal income tax withholding at the highest effective rate.
Global Partners LP (NYSE: GLP) has appointed Sean T. Geary as Chief Legal Officer effective March 1, 2022. Geary, a 16-year veteran at Global, previously served as Acting General Counsel following the passing of the former General Counsel in May 2021. His experience includes Vice President of Mergers & Acquisitions. CEO Eric Slifka praised Geary's leadership and negotiation skills, stating his role has been crucial to the company’s acquisition and growth strategies. Global Partners operates around 1,700 locations in the Northeast and has extensive terminal networks for distributing fuels.
Global Partners LP (NYSE: GLP) has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, with the U.S. SEC on February 28, 2022. The report is accessible for viewing or download on the company's website and the SEC's site. Global Partners operates approximately 1,700 gasoline stations and convenience stores mainly in the Northeast and possesses one of the largest terminal networks in New England and New York for petroleum product distribution.
Global Partners LP (NYSE: GLP) reported strong Q4 and full-year 2021 results, driven by its Gasoline Distribution and Station Operations segment. Net income surged to $19.3 million, or $0.44 per unit, from $4.4 million a year prior. EBITDA grew to $65.7 million, and distributable cash flow (DCF) increased to $30.5 million. Total sales reached $4.1 billion, a significant rise from $2.2 billion in Q4 2020. The company executed several strategic acquisitions and plans to close a terminal sale, enhancing operational efficiencies and cash flow. A quarterly cash distribution of $0.5850 per unit was also announced.
Global Partners LP (NYSE: GLP) will release its fourth-quarter and full-year 2021 financial results before markets open on February 28, 2022. A conference call will be held at 10:00 a.m. ET for investors and analysts. The call will be accessible via dial-in numbers for the U.S., Canada, and international listeners. Global Partners operates approximately 1,700 gas stations and convenience stores in the Northeast and has an extensive terminal network for fuel distribution.
Global Partners LP (NYSE: GLP) has finalized its acquisition of 26 "Wheels" branded convenience stores and fuel supply agreements from Consumers Petroleum of Connecticut. The strategic purchase aims to enhance income sources and earnings potential. This transaction includes sites across Connecticut and New York, with Global also complying with a Federal Trade Commission consent order by divesting seven retail locations. CFO Greg Hanson expressed optimism about synergies that will boost overall operations.
Global Partners LP (NYSE: GLP) has declared a quarterly cash distribution of $0.5850 per unit, amounting to $2.34 per unit on an annualized basis. This distribution applies to all outstanding common units for the period from October 1, 2021 through December 31, 2021. Payment is scheduled for February 14, 2022, with a record date of February 8, 2022. The press release also includes information regarding federal income tax withholding for non-U.S. investors.
Global Partners LP (NYSE: GLP) announced a cash distribution for its Series A preferred units of $0.609375 per unit, and for its Series B preferred units, $0.59375 per unit, both for the period from
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