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 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 November 15, 2021 to February 14, 2022. Payments will be made on February 15, 2022 to holders of record as of February 1, 2022. Additionally, distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable rate.
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 $0.609375 per unit ($2.4375 annually) and the Series B at $0.59375 per unit ($2.375 annually), both payable on November 15, 2021, to holders of record as of November 1, 2021. Additionally, non-U.S. investors' distributions will be subject to federal income tax withholding at the highest applicable rates as per Treasury Regulation.
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.