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 (GLP) announced a $2 million donation to provide heating oil to low-income households in seven Northeastern states amidst rising energy costs. This initiative aims to assist approximately 4,000 homes this winter, particularly in Massachusetts and New York, which will each receive $650,000 of the donation. The increase in energy prices has been attributed to international factors, including reduced Russian gas supply due to the war in Ukraine. The donation underscores Global's commitment to community support during challenging economic conditions.
Global Partners LP (NYSE: GLP) reported strong financial results for Q3 2022, showing a net income of $111.4 million ($3.12 per unit), significantly up from $33.6 million ($0.86 per unit) in Q3 2021. Total revenue reached $4.6 billion, a substantial increase from $3.3 billion year-over-year. The Gasoline Distribution and Station Operations segment thrived, driven by higher retail fuel margins and strategic acquisitions, increasing its footprint with the acquisition of Tidewater Convenience. Adjusted EBITDA rose to $168.5 million, up from $79.2 million in Q3 2021.
Global Partners LP (NYSE: GLP) has declared a quarterly cash distribution of $0.6250 per unit, amounting to $2.50 annually, for the period from July 1, 2022 to September 30, 2022. This distribution will be paid on November 14, 2022, to unitholders of record as of November 8, 2022. The press release also notes that distributions to non-U.S. investors will be subject to federal income tax withholding at the highest applicable effective tax rate.
Global Partners LP (NYSE: GLP) announced it will release its third-quarter 2022 financial results on November 4, 2022, before the market opens. A conference call will follow at 10:00 a.m. ET, featuring key executives including CEO Eric Slifka and CFO Gregory B. Hanson. Investors can access the call via phone or through the Global Partners website’s ‘Events & Presentations’ section.
Global Partners is a prominent independent operator of gasoline stations and convenience stores in the Northeast, boasting around 1,700 locations and a vast terminal network.
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.