Global Partners Lp Stock Price, News & Analysis

Global Partners LP (NYSE: GLP) announced a cash distribution of $0.609375 per unit for its Series A preferred units and $0.59375 per unit for Series B preferred units, both covering the period from August 15, 2022 to November 14, 2022. Payments will be made on November 15, 2022 to holders of record as of the opening of business on November 1, 2022. The release includes information for non-U.S. investors regarding federal income tax withholding implications.

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.