Every 10-Q that Global Partners LP (GLP) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow GLP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GLP filings page.
Global Partners LP, a master limited partnership operating fuel terminals, wholesale distribution and gasoline stations, reported sharply higher results for the three and six months ended June 30, 2026. Q2 sales were $ 6,792,088 (in thousands) versus $ 4,626,925 (in thousands) a year earlier, with gross profit of $ 328,941 (in thousands). Net income rose to $ 70,985 (in thousands), and net income attributable to common limited partners was $ 63,328 (in thousands), or basic earnings of $ 1.87 per unit, compared with $ 0.55.
For the first half of 2026, sales reached $ 12,113,888 (in thousands) and net income was $ 141,121 (in thousands). Net cash provided by operating activities increased to $ 204,722 (in thousands). Total assets were $ 4,021,551 (in thousands) and partners’ equity grew to $ 748,567 (in thousands). Total available commitments under the senior secured credit facility were $ 1,800,000 (in thousands), with $ 1,437,100 (in thousands) of remaining availability for borrowings and letters of credit, and required covenants were met. The board declared a Q2 2026 common distribution of $ 0.7800 per unit, payable August 14, 2026, and all 3,000,000 9.50% Series B preferred units were redeemed on July 30, 2026 at $ 25.00 per unit plus a final cash distribution.
Global Partners LP reported strong first-quarter 2026 results, with sales of $5.32 billion and net income of $70.1 million, up from $18.7 million a year earlier. Basic net income per common unit rose to $1.86 from $0.37.
Gross profit increased to $332.2 million, driven by higher product margins in the Wholesale, Gasoline Distribution and Station Operations, and Commercial segments. Operating cash flow was a use of $104.7 million, reflecting large swings in receivables and inventories typical of this fuel logistics business.
The partnership expanded its senior secured credit facility from $1.5 billion to $1.8 billion by exercising an accordion feature, ending the quarter with $511.8 million of borrowings and $1.13 billion of remaining availability. It remained in compliance with leverage and coverage covenants.
Partners’ equity grew to $711.8 million, and 33.99 million common units were outstanding. A quarterly cash distribution of $0.7600 per common unit was paid in February 2026, and a higher distribution of $0.7650 per unit was declared for payment in May, alongside ongoing 9.50% preferred distributions on the Series B units.
Global Partners LP reported Q3 2025 results with sales of $4,694.4 million, gross profit of $271.4 million, operating income of $61.4 million, and net income of $29.0 million. Basic and diluted net income per common limited partner unit were $0.66.
For the nine months, sales were $13,913.5 million and operating cash flow was $183.8 million, while investing used $64.8 million and financing used $109.2 million. The GDSO segment contributed 72% of Q3 product margin; Wholesale was 26% and Commercial 2%.
Capital structure actions included issuing $450.0 million of 7.125% senior notes due 2033, and redeeming all $400.0 million of 7.00% notes due 2027, leading to a loss on early extinguishment of $0.2 million in Q3 ($3.0 million YTD). The credit agreement was amended, extending maturity to March 20, 2028, lifting the working capital revolver to $1.0 billion and setting the revolving credit facility at $500.0 million. As of September 30, total borrowings under the facilities were $365.4 million with remaining availability of $1,069.7 million. Common units outstanding were 33,995,563 as of November 5, 2025.
Global Partners LP (GLP) Q2-25 10-Q highlights:
- Sales up 4.9% YoY to $4.63 bn; six-month sales up 7.8% to $9.22 bn.
- Gross profit fell 5.4% to $272 m and operating income declined 28% to $60 m as opex and SG&A outpaced revenue.
- Net income dropped 45% to $25 m ($0.55/unit) versus $46 m ($1.11) last year; common unitholder income down 50% to $19 m. YTD net income rose 8% to $44 m, EPS to $0.92 (vs $0.74).
- Operating cash flow swung to +$165 m from -$158 m, driven by inventory and receivable reductions.
- Balance sheet: cash $16 m (vs $8 m YE-24); inventories $496 m (-$98 m YTD); total debt $1.56 bn (senior notes $1.27 bn) against partners’ equity $686 m.
- Capital events: issued $450 m 7.125% notes due 2033, used proceeds to tender/ redeem $360 m of 7.00% 2027 notes and repay revolver, booking a $2.8 m extinguishment loss; remaining $39.7 m of 2027 notes redeemed 1 Aug 25.
- Credit Agreement 11th amendment: maturity extended to Mar-2028; working-capital revolver raised to $1.0 bn, corporate revolver cut to $500 m. Liquidity available: $1.13 bn.
- Product mix: gasoline 70% of Q2 sales; GDSO generated 68% of product margin, Wholesale 30%, Commercial 2%.
Operations remain highly seasonal; no customer exceeds 10% of sales.