Global Partners (NYSE:GLP) Announces Quarterly Earnings Results

Global Partners (NYSE:GLP) released its quarterly earnings results on Friday. The energy company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.62, FiscalAI reports. The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $7.51 billion. Global Partners had a net margin of 0.77% and a return on equity of 24.23%.

Here are the key takeaways from Global Partners’ conference call:

• Strong second-quarter results: Net income rose to $71 million from $25.2 million, while adjusted EBITDA increased to $148.2 million from $98.2 million and adjusted distributed cash flow climbed to $92.5 million from $52.3 million.
• Global Partners approved its quarterly distribution of $0.78 per common unit ($3.12 annualized), with coverage of 2.25 times, or 2.19 times including preferred-unit distributions.
• Higher fuel margins drove gasoline distribution growth, while favorable gasoline wholesale and bunkering conditions also supported results; fuel margins increased to $0.50 per gallon from $0.36 a year earlier.
• The company redeemed all outstanding Series B preferred units, citing the accretive impact of eliminating their 9.5% fixed-rate cost, and reported strong liquidity with leverage of 2.85 times and ample revolver capacity.
• Management expects steep backwardation in forward product pricing to increase the cost of carrying hedged inventory, while higher prices are causing modestly smaller fuel fill-ups and some trading down by consumers.

Global Partners Price Performance

Shares of NYSE:GLP opened at $50.12 on Friday. The company’s fifty day moving average price is $47.70 and its 200-day moving average price is $47.32. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.12 and a quick ratio of 0.64. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 10.21 and a beta of 1.01. Global Partners has a one year low of $39.58 and a one year high of $53.25.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 10th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Monday, August 10th. This is a positive change from Global Partners’s previous quarterly dividend of $0.77. Global Partners’s payout ratio is currently 85.00%.

Institutional Trading of Global Partners

A number of hedge funds have recently made changes to their positions in GLP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Global Partners by 4.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock valued at $93,019,000 after purchasing an additional 85,347 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Global Partners by 12.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company’s stock worth $25,457,000 after purchasing an additional 67,337 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Global Partners by 13.1% during the 4th quarter. JPMorgan Chase & Co. now owns 440,167 shares of the energy company’s stock valued at $18,421,000 after buying an additional 50,890 shares during the last quarter. UBS Group AG grew its holdings in Global Partners by 26.6% in the 3rd quarter. UBS Group AG now owns 235,024 shares of the energy company’s stock worth $11,281,000 after acquiring an additional 49,319 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Global Partners during the first quarter valued at about $862,000. 38.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered Global Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research cut Global Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.00.

Key Stories Impacting Global Partners

Here are the key news stories impacting Global Partners this week:

• Positive Sentiment: Results substantially exceeded expectations. Global Partners reported second-quarter adjusted EPS of $1.86, compared with the $1.24 consensus estimate. Management highlighted record net income and strong contributions across all business segments, supporting the view that the company is executing effectively in a dynamic energy market. Global Partners LP Reports Second-Quarter 2026 Financial Results
• Positive Sentiment: Expansion spending and capital returns provide additional support. The partnership outlined $75 million to $85 million of 2026 expansion capital expenditures and plans to redeem its Series B preferred units. The investments could expand future earnings capacity, while the redemption may simplify the capital structure and reduce preferred-unit obligations. Global Partners outlines 2026 expansion CapEx of $75M-$85M as it redeems Series B preferred units
• Positive Sentiment: Cash-return efforts remain a favorable investor signal. Coverage of the quarterly update emphasized strong earnings and cash returns, reinforcing the appeal of GLP’s income-oriented investment case. Global Partners Reports Strong Quarterly Earnings and Cash Returns
• Neutral Sentiment: Analyst sentiment remains constructive but not uniformly bullish. Wall Street Zen changed its rating to Buy, which is supportive overall but may represent a reduction from a stronger prior rating. Global Partners Cut to Buy at Wall Street Zen
• Negative Sentiment: Revenue fell short of expectations. Quarterly revenue was $6.79 billion versus the $7.51 billion consensus estimate. Although earnings benefited from stronger profitability, the sales miss and the partnership’s thin net margin of 0.77% remain risks for investors.

About Global Partners

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.