Global Partners Lp Stock Price, News & Analysis

Global Partners LP (NYSE:GLP) has initiated a public offering of Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units, priced at $25.00 per unit. The offering is subject to market conditions and includes a 30-day option for underwriters to purchase additional units. Proceeds will be utilized to reduce debt under their credit agreement. Stifel, Nicolaus & Company and Morgan Stanley are the joint book-running managers for this offering, which is being conducted under an effective registration statement with the SEC.

Global Partners LP (NYSE: GLP) announces the retirement of Chief Financial Officer Daphne H. Foster, effective August 31, 2021, after 14 years. Gregory B. Hanson, currently Treasurer, will succeed her on September 1, 2021. Foster's tenure saw significant advancements in the company’s strategic goals, successful financial transactions, and a strengthened financial position. Hanson brings over 20 years of finance experience, having previously worked at G.E. Financial Services and Merrill Lynch. Global Partners operates 1,550 locations in the Northeast, dealing in gasoline and renewable fuels.

Global Partners LP (NYSE: GLP) filed its Annual Report on Form 10-K for the year ended December 31, 2020, with the U.S. SEC on March 5, 2021. The report is accessible for viewing or download on the Partnership's website and the SEC’s website. Global Partners operates approximately 1,550 gasoline stations and convenience stores mainly in the Northeast and maintains one of the largest terminal networks for petroleum distribution in New England and New York, indicating a significant presence in the energy sector.

Global Partners LP (NYSE: GLP) reported significant financial results for Q4 and the full year 2020, achieving $102.2 million in net income, $287.7 million in Adjusted EBITDA, and $156.4 million in distributable cash flow, all reflecting year-over-year increases. The fourth quarter net income stood at $4.4 million, a recovery from a loss in Q4 2019. Despite a decrease in total sales to $2.2 billion, driven by lower prices and volumes, gross profit increased to $166.2 million. The partnership announced a quarterly cash distribution of $0.55 per unit.

Global Partners LP (NYSE: GLP) is set to announce its fourth-quarter and full-year 2020 financial results on March 5, 2021, before market opening. A conference call will follow at 10:00 a.m. ET for investors and analysts, with dial-in options provided for both U.S. and international participants. With around 1,550 locations in the Northeast, Global is a major player in gasoline and convenience store operations, also managing a significant terminal network for fuel distribution. Details will be accessible on their Investor Relations website.

Global Partners LP (NYSE: GLP) announced an increase in its quarterly cash distribution by $0.05 per unit, raising it to $0.55 per unit ($2.20 annualized). This distribution will cover the period from October 1 to December 31, 2020, and will be paid on February 12, 2021, to unitholders of record as of February 8, 2021. The press release also outlines withholding tax implications for non-U.S. investors, indicating that 100% of distributions are taxable at the highest rate. Global Partners operates approximately 1,550 locations in the Northeast and has a significant terminal network.

Global Partners LP (NYSE: GLP) announced a quarterly cash distribution of $0.609375 per unit on its Series A preferred units, effective for the period from November 15, 2020 to February 14, 2021. This distribution totals $2.4375 per unit on an annualized basis and will be payable on February 16, 2021 to unitholders of record as of February 1, 2021.

Brokers should treat distributions to non-U.S. investors as connected to U.S. trade or business, subject to federal income tax withholding at the highest rate.

Global Partners LP (NYSE: GLP) has entered into an agreement to acquire the retail fuel and convenience store assets of Consumers Petroleum of Connecticut. This acquisition includes 27 company-operated gas stations with Wheels-branded convenience stores and fuel supply agreements for approximately 25 additional gas stations in Connecticut and New York. The deal is anticipated to enhance Global Partners' retail presence in Connecticut and is expected to be accretive within the first full year. Closing is set for the first half of 2021, pending regulatory approvals.

Global Partners LP (NYSE: GLP) has announced a quarterly cash distribution increase of 4.125 cents to $0.50 per unit, equivalent to $2.00 annually. This distribution pertains to the period from July 1 to September 30, 2020, and will be payable on November 13, 2020, to unitholders of record by November 9, 2020. The announcement indicates strong performance amid ongoing economic conditions. Furthermore, non-U.S. investors should be aware that distributions are subject to federal income tax withholding at applicable rates.