Global Partners (NYSE:GLP) Releases Earnings Results, Beats Expectations By $1.52 EPS

Global Partners (NYSE:GLP) announced its quarterly earnings data on Friday. The energy company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.52, FiscalAI reports. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Global Partners had a net margin of 0.53% and a return on equity of 15.99%.

Here are the key takeaways from Global Partners’ conference call:

• Strong Q1 financials: Net income rose to $70.1M (vs. $18.7M), adjusted EBITDA was $140.4M (vs. $91.3M), and adjusted distributable cash flow was $96.8M (vs. $46.5M), driving materially higher cash generation year-over-year.
• Board approved a quarterly cash distribution of $0.7650 per common unit (annualized $3.06), the eighteenth consecutive quarterly increase, with distribution coverage of 1.96x (1.9x including preferred holders).
• Segment strength: GDSO product margin increased to $199.3M (gasoline margin up $0.06/gal to $0.41) and wholesale product margin rose to $154.1M, driven by favorable market conditions across gasoline and distillates.
• Market risks: steep backwardation in forward curves will raise the cost of carrying hedged inventory, prompting the company to draw down and tightly manage inventories to mitigate higher carrying costs and exposure.
• Capital allocation and balance sheet: 2026 guidance calls for $60–70M maintenance CapEx and $75–85M expansion CapEx (ex‑acquisitions); leverage was 3.1x funded debt/EBITDA at quarter end with ample revolver capacity.

Global Partners Trading Up 1.5%

Shares of GLP opened at $48.49 on Friday. Global Partners has a 1-year low of $39.58 and a 1-year high of $56.51. The company has a 50-day moving average of $46.57 and a 200 day moving average of $45.25. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 13.47 and a beta of 1.04. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.14 and a quick ratio of 0.63.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 11th will be issued a dividend of $0.765 per share. This represents a $3.06 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Monday, May 11th. This is a positive change from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s dividend payout ratio (DPR) is 85.00%.

Insider Activity at Global Partners

In other news, COO Mark Romaine sold 2,020 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $48.19, for a total value of $97,343.80. Following the completion of the sale, the chief operating officer owned 141,609 shares in the company, valued at approximately $6,824,137.71. The trade was a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 24,063 shares of company stock valued at $1,146,471. Insiders own 41.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Global Partners by 4.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock worth $93,019,000 after buying an additional 85,347 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Global Partners by 12.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company’s stock worth $25,457,000 after buying an additional 67,337 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Global Partners by 13.1% in the 4th quarter. JPMorgan Chase & Co. now owns 440,167 shares of the energy company’s stock worth $18,421,000 after buying an additional 50,890 shares during the last quarter. UBS Group AG grew its position in shares of Global Partners by 26.6% in the 3rd quarter. UBS Group AG now owns 235,024 shares of the energy company’s stock worth $11,281,000 after buying an additional 49,319 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Global Partners by 0.9% in the 2nd quarter. Bank of America Corp DE now owns 137,822 shares of the energy company’s stock worth $7,267,000 after buying an additional 1,227 shares during the last quarter. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GLP shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Partners in a research note on Friday, March 27th. Stifel Nicolaus lifted their price objective on shares of Global Partners from $45.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, March 2nd. Zacks Research raised shares of Global Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen raised shares of Global Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Global Partners presently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Global Partners Company Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.