Global Partners Lp Stock Price, News & Analysis

Global Partners LP (NYSE: GLP) has announced a cash distribution of $0.6550 per unit, amounting to $2.62 annually, for all outstanding common units covering January 1, 2023 to March 31, 2023. This distribution will be paid on May 15, 2023 to unitholders of record by May 9, 2023. The press release also highlights that 100% of GLP’s distributions to non-U.S. investors are subject to federal income tax withholding. Global Partners operates one of the largest networks of gasoline stations and convenience stores in the Northeast, and is engaged in the transportation of petroleum products and renewable fuels.

Global Partners LP (NYSE: GLP) will release its first-quarter 2023 financial results before the market opens on May 5, 2023. A conference call for investors and analysts will be held at 10:00 a.m. ET, featuring President and CEO Eric Slifka, CFO Gregory B. Hanson, and COO Mark Romaine. Investors can access the call via phone or the company’s website. Global Partners operates approximately 1,700 gasoline stations and convenience stores in the Northeast and manages one of the largest terminal networks in New England and New York for distributing fuels. The Partnership focuses on the transportation of petroleum products and renewable fuels by rail from the U.S. and Canada.

Global Partners LP (NYSE: GLP) has announced a cash distribution of $0.609375 per unit for its Series A preferred units for the period from February 15, 2023 to May 14, 2023. This amounts to $2.4375 on an annualized basis and will be payable on May 15, 2023, to holders of record as of May 1, 2023.

Additionally, a cash distribution of $0.59375 per unit will be made on the Series B preferred units for the same period, translating to $2.375 on an annualized basis, also payable on May 15, 2023.

Non-U.S. investors will face federal income tax withholding at the highest applicable rate on these distributions.

Global Partners LP has entered a joint venture with ExxonMobil to acquire 64 convenience and fueling facilities in Houston from the Landmark Group. The deal, expected to close in Q2 2023 pending regulatory approvals, positions Global as the management operator through Spring Partners Retail LLC.

In 2022, Global expanded its reach by acquiring 120 retail sites across the Northeast and mid-Atlantic, showcasing its operational strengths. CEO Eric Slifka emphasized the acquisition as part of their strategy to invest in growing markets. With around 1,700 locations, Global is a key player in the region's fuel and convenience market.

Global Partners LP (NYSE: GLP) appointed Clare McGrory to its Board of Directors effective March 1. McGrory, CFO and CCO at Atairos, brings extensive experience from her prior role as CFO at Sunoco, LP (NYSE: SUN), where she contributed to long-term growth initiatives. This addition increases the board to 7 members, 5 of whom are independent. McGrory's finance expertise is expected to align with Global's strategic goals, enhancing leadership and operational execution. Global Partners operates approximately 1,700 gas stations across the Northeast and mid-Atlantic, making it a major player in regional petroleum distribution.

Global Partners LP (NYSE: GLP) announced that it has filed its Annual Report on Form 10-K for the year ending December 31, 2022, with the U.S. Securities and Exchange Commission (SEC) on February 27, 2023. The report is accessible for viewing and download on Global's website and the SEC's website. Global Partners, a significant player in the Northeast with approximately 1,700 locations, operates gasoline stations and convenience stores, and has a vast terminal network for distributing petroleum products. For more details, stakeholders can contact Global Partners Investor Relations.

Global Partners LP (NYSE: GLP) reported strong financial results for Q4 and full year 2022, achieving a net income of $57.5 million ($1.54 per diluted unit), compared to $19.3 million ($0.44) in Q4 2021. EBITDA reached $105.3 million, up from $65.7 million, with distributable cash flow rising to $57.3 million from $30.5 million. Wholesale segment margins more than doubled, driven by effective inventory management amidst market volatility. Total sales for Q4 increased to $4.4 billion from $4.1 billion year-over-year. The company also announced a cash distribution of $1.5725 per unit for Q4, reflecting robust operational performance.

Global Partners LP (NYSE: GLP) will announce its fourth-quarter and full-year 2022 financial results on February 27, 2023, before the market opens. A conference call for investors and analysts will follow at 10:00 a.m. ET, featuring key executives, including President Eric Slifka and CFO Gregory B. Hanson. The call can be accessed via phone or through the Global Partners website, where both live and archived audio will be available. With around 1,700 locations in the Northeast, Global Partners is a major supplier and operator in gasoline and convenience retailing, as well as a significant player in petroleum transportation.