Global Partners (GLP)
NYSE:GLP
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Earnings Data
Report Date
Jul 31, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.24Last Year’s EPS
0.55Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial quarter with very large year-over-year increases in income, EBITDA and distributable cash flow and robust segment-level performance. Management highlighted disciplined capital allocation, active inventory management and continued investment in growth. Notable caveats include a large SG&A increase driven by incentive compensation, risks from steep backwardation raising inventory carrying costs, geopolitical-driven market volatility, low inventories heading into the driving season, and meaningful revolver borrowings. On balance, the positives materially outweigh the risks in this quarter.Company Guidance
Strong YoY Profit and Cash Flow Growth
Net income rose to $70.1M from $18.7M (≈+274.9% YoY). EBITDA increased to $142.1M from $91.9M (+54.7% YoY) and adjusted EBITDA to $140.4M from $91.3M (+53.8% YoY). Distributable cash flow was $96.4M versus $45.7M (+110.9% YoY) and adjusted DCF was $96.8M versus $46.5M (+108.2% YoY).
Distribution Increase with Strong Coverage
Board approved a quarterly cash distribution (reported as $76.50 per common unit, or $3.06 annualized) — the eighteenth consecutive quarterly increase — with distribution coverage of 1.96x (1.9x including preferred unit distributions).
GDSO Segment Margin Expansion and Retail Footprint
GDSO segment product margin increased by $11.4M to $199.3M (+6.1% YoY). Product margin from gasoline distribution rose $10.9M to $136.7M (+8.7% YoY). Fuel margin per gallon improved by 6¢ to 41¢ from 35¢ (+17.1%). Sundries and rental income grew $0.5M to $62.6M. Retail portfolio totaled 1,513 sites (excludes 68 JV sites).
Wholesale Segment Outperformance
Wholesale product margin increased $60.5M to $154.1M (+64.6% YoY). Gasoline and blendstocks margin rose $44.1M to $101.2M (+77.3% YoY); distillates and other oils margin increased $16.4M to $52.9M (+44.9% YoY). Management attributes this to favorable market conditions and executed well amid commodity volatility.
Operational Flexibility in Inventory Management
Management emphasized the ability to tailor inventory levels (drawing down inventories in backwardated markets and building in contango) and has actively reduced inventories in the current backwardated environment to capture margin and mitigate risk.
CapEx Investment Plan and Market Participation
Q1 CapEx was $31.9M (maintenance $10.0M; expansion $21.9M). Full-year 2026 guidance: maintenance CapEx $60–$70M and expansion CapEx (ex-acquisitions) $75–$85M, reflecting ongoing investment in gasoline station business and growth initiatives.
Balance Sheet Liquidity and Access to Credit
Leverage (funded debt/EBITDA per credit agreement) was 3.1x at March 31, 2026, with management noting ample excess capacity in credit facilities. Outstanding borrowings were $408.3M on the working capital revolver and $103.5M on the revolving credit facility.
GLP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GLP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 08, 2026 | $47.00 | $47.98 | +2.10% |
Feb 27, 2026 | $47.61 | $46.24 | -2.87% |
Nov 07, 2025 | $42.33 | $40.10 | -5.26% |
Jun 30, 2025 | $49.23 | $49.40 | +0.34% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Global Partners (GLP) report earnings?
Global Partners (GLP) is schdueled to report earning on Jul 31, 2026, Before Open (Confirmed).
What is Global Partners (GLP) earnings time?
Global Partners (GLP) earnings time is at Jul 31, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GLP EPS forecast?
GLP EPS forecast for the fiscal quarter 2026 (Q2) is 1.24.