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 reports developments for a master limited partnership that owns, supplies, and operates liquid energy terminals, retail fueling locations, and convenience destinations. Its updates focus on gasoline, distillates, residual oil, renewable fuels, and related logistics across a terminal network connected to rail, pipeline, and marine assets, with retail and supplied locations in the Northeast, Mid-Atlantic, Texas, and other markets.
Recurring news includes quarterly and annual financial results, segment commentary for Wholesale, Gasoline Distribution and Station Operations, and Commercial activities, and cash distributions on common units and Series B preferred units. Company announcements also address annual report filings, qualified tax notices for non-U.S. unitholders, and conference-call scheduling tied to operating results.
Global Partners LP (NYSE: GLP) has announced the acquisition of Tidewater Convenience, Inc., enhancing its retail presence in the mid-Atlantic region. This purchase includes 15 locations, 14 of which are company-operated, in southeast Virginia. Mark Cosenza, SVP of Gasoline, Distribution and Station Operations, emphasized the strategic importance of Virginia in expanding their network. Global Partners operates around 1,700 retail locations and delivers essential products to local communities.
Global Partners LP (NYSE: GLP) has made its 2021 Schedule K-3 available online for unitholders needing international tax information. This tax document is essential for certain foreign unitholders and corporate partners for accurate reporting. While the Partnership will not mail copies, investors can access the document electronically by calling Tax Package Support. With around 1,700 locations mainly in the Northeast, Global Partners is a key player in gasoline and convenience store operations, and it maintains a significant terminal network in New England and New York.
Global Partners LP (NYSE: GLP) reported strong Q2 2022 results with a net income of $162.8 million ($4.61 per share), a significant increase from $12.1 million ($0.23 per share) in Q2 2021. EBITDA rose to $211.8 million from $58.5 million, while distributable cash flow jumped to $178.2 million compared to $26.6 million year-over-year. Gross profit reached $281.5 million, supported by strong performance in the Gasoline Distribution segment and favorable Wholesale market conditions. Additionally, the Partnership completed the $150 million sale of its Revere terminal, retaining key operational leases.
Global Partners LP (NYSE: GLP) announced a quarterly cash distribution of $0.6050 per unit, equating to an annualized $2.42 per unit, for the period from April 1 to June 30, 2022. This distribution is set to be paid on August 12, 2022, to unitholders recorded by August 8, 2022. The press release notes that distributions to non-U.S. investors will be subject to the highest federal income tax withholding rate. Global operates approximately 1,700 locations in the Northeast and has a significant terminal network for fuel distribution.
Global Partners LP (NYSE: GLP) will announce its Q2 2022 financial results before market opening on August 5, 2022. A conference call will follow at 10:00 a.m. ET, featuring Eric Slifka (CEO), Gregory B. Hanson (CFO), and Mark Romaine (COO). Investors can listen to the call by dialing (877) 709-8155 (U.S. and Canada) or (201) 689-8881 (International). The call will also be available for replay on Global Partners' website under the “Events & Presentations” section.
Global Partners LP (NYSE: GLP) declared a cash distribution of $0.609375 per unit ($2.4375 annualized) for its Series A preferred units and $0.59375 per unit ($2.375 annualized) for its Series B preferred units. Both distributions cover the period from May 15, 2022 to August 14, 2022 and will be payable on August 15, 2022 to holders of record as of the opening of business on August 1, 2022. The release provides essential non-U.S. withholding tax information applicable to these distributions.
Global Partners LP (NYSE: GLP) reported a strong first quarter for 2022, with net income of $30.5 million or $0.76 per diluted unit, reversing a net loss of $4.3 million in Q1 2021. EBITDA rose to $79.8 million from $40.9 million a year ago. Significant growth in product margin was seen across segments, particularly a 33% increase in Gasoline Distribution and Station Operations, driven by recent acquisitions. Total sales jumped to $4.5 billion, compared to $2.6 billion in the prior year. A cash distribution of $0.5950 per unit is scheduled for May 13, 2022.
Global Partners LP (NYSE: GLP) announced a quarterly cash distribution of $0.5950 per unit for the period from January 1 to March 31, 2022, equating to an annualized rate of $2.38 per unit. This distribution will be paid on May 13, 2022 to unitholders of record as of May 9, 2022. The announcement indicates a stable cash return to investors amidst ongoing operations in a competitive market.
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.