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) reported a strong Q3 2021 with net income of $33.6 million ($0.86/unit), up from $18.2 million a year earlier. EBITDA rose to $79.4 million from $65.0 million. Distributable cash flow reached $49.7 million compared to $31.3 million in Q3 2020. Gross profit increased to $203.1 million, driven by higher margins in the Gasoline Distribution and Station Operations segment. Sales surged to $3.3 billion, reflecting increased fuel prices. A quarterly cash distribution of $0.5750 per unit will be paid on November 12, 2021.
Global Partners LP has appointed Jaime Pereira to its Board of Directors, effective October 25, 2021. With over 40 years of experience, including a notable tenure at Ernst & Young, Pereira brings significant expertise in finance and accounting. He will contribute to the audit, compensation, and conflicts committees, leveraging his knowledge gained from advising various public and private companies. This appointment aims to enhance the board's overall skill set and governance, potentially benefiting GLP stakeholders.
Global Partners LP (NYSE: GLP) has declared a quarterly cash distribution of $0.5750 per unit, amounting to $2.30 on an annualized basis, for the period from July 1 to September 30, 2021. This distribution will be paid on November 12, 2021 to unitholders of record as of November 8, 2021. The press release also outlines tax implications for non-U.S. investors, highlighting that distributions will be subject to federal income tax withholding. Global Partners operates over 1,550 locations and has a significant presence in gasoline and convenience store operations in the Northeast.
Global Partners LP (NYSE: GLP) will release its third-quarter 2021 financial results on November 5, 2021, prior to market opening. A conference call for investors and analysts will be held at 10:00 a.m. ET on the same day, with dial-in options available for participants in the U.S., Canada, and internationally. The call will also be webcast live and archived on the Investor Relations section of Global Partners' website. This announcement highlights the company's ongoing communication efforts with stakeholders.
Global Partners LP (NYSE: GLP) declared cash distributions for its Series A and Series B preferred units. The Series A distribution is set at
Cushing Asset Management and Swank Capital announced the rebalancing of The Cushing MLP Market Cap Index, effective September 20, 2021. Following market closure on September 17, Alliance Resource Partners, L.P. (NASDAQ: ARLP) will be added as a constituent, while Global Partners LP (NYSE: GLP) will be removed. The Index tracks midstream energy infrastructure companies and is calculated by S&P Dow Jones Indices. It serves as a benchmark to monitor the performance of master limited partnerships and non-MLP midstream corporations.
Global Partners LP (GLP) reported Q2 2021 financial results with a net income of $12.1 million ($0.23 per unit), down from $76.3 million ($2.17 per unit) in Q2 2020. EBITDA decreased to $58.5 million from $125.7 million year-over-year. The GDSO segment showed growth, with product margin rising to $162.4 million, while the Wholesale segment saw a drop to $33.5 million due to tougher market conditions. Total sales surged to $3.3 billion from $1.5 billion in the previous year. A quarterly cash distribution of $0.5750 per unit is set for August 13, 2021.
Global Partners LP (NYSE: GLP) has announced a quarterly cash distribution of $0.5750 per unit for the period from April 1 to June 30, 2021, amounting to an annualized $2.30 per unit. The payment is scheduled for August 13, 2021, to unitholders on record as of August 9, 2021. The company emphasizes that 100% of distributions to non-U.S. investors will be subject to the highest federal income tax withholding. Global Partners operates approximately 1,550 locations in the Northeast, focusing on gasoline and convenience store operations, with extensive terminal networks for fuel distribution.
Global Partners LP (NYSE: GLP) is set to release its second-quarter 2021 financial results on August 6, 2021, before the market opens. A conference call for investors and analysts will take place at 10:00 a.m. ET. Interested parties can join via dial-in or listen to the live webcast available at the company's Investor Relations page. Global Partners operates approximately 1,550 locations mainly in the Northeast and has a significant terminal network for fuel distribution. This call may provide insights into the company's performance and future outlook.
Global Partners LP (NYSE: GLP) declared cash distributions on its Series A and B preferred units for the period from May 15, 2021, to August 14, 2021. Series A preferred units will receive $0.609375 per unit ($2.4375 annualized) while Series B units will receive $0.59375 per unit ($2.375 annualized). Both distributions are payable on August 16, 2021, to holders of record as of August 2, 2021. Additionally, distributions to non-U.S. investors will be subject to federal income tax withholding at the highest applicable rate.
FAQ
What is the current stock price of Global Partners LP (GLP)?
What is the market cap of Global Partners LP (GLP)?
What does Global Partners LP do?
Where are Global Partners LP's operations primarily located?
What are the primary business segments of Global Partners LP?
What kind of products does Global Partners LP distribute?
How extensive is Global Partners LP's retail network?
What are some of the convenience store brands operated by Global Partners LP?
What is the significance of Global Partners LP's virtual pipeline?
How does Global Partners LP rank among America's largest companies?
Which business segment generates the most revenue for Global Partners LP?
What recent achievements has Global Partners LP accomplished?
