Global Partners (GLP) AI Stock Analysis

• Market Cap: $1.77B
• Dividend Yield: 5.76%
• Average Volume (3M): 50.46K
• Price to Earnings (P/E): 20.0
• Beta (1Y): 0.61
• Revenue Growth: 3.74%
• EPS Growth: -4.49%
• Country: US
• Employees: 3,300
• Sector: Energy
• Sector Strength: 67
• Industry: Oil & Gas Midstream
• EPS (TTM): 0.55
• Shares Outstanding: 33,995,564
• 10 Day Avg. Volume: 68,585
• 30 Day Avg. Volume: 50,457
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 2.18
• Enterprise Value/Revenue: 0.18
• Enterprise Value/Gross Profit: 4.10
• Enterprise Value/Ebitda: 9.63
• 1Y Price Target: $53.00
• Price Target Upside: 2.97% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2

• Rating: 61 Neutral
• Price Target: $53.00 ▲(2.97% Upside)

Global Partners' overall score reflects strong revenue growth and strategic initiatives, tempered by profitability challenges and high leverage. The attractive dividend yield and reasonable valuation provide some support, but technical indicators suggest a lack of strong momentum.

Positive Factors

Infrastructure Flexibility

Global's infrastructure system is flexible and can source crude from numerous supply points, such as the US, Canada, Europe, and the Caribbean.

Mergers and Acquisitions

Management believes the M&A market continues to be busy and will continue to look at deals that provide value to the partnership.

Stock Performance

GLP units have increased 23% compared to the AMZ's 10% increase.

Negative Factors

Canadian Tariffs

GLP is currently evaluating potential scenarios around Canadian tariffs, as increased costs are likely.

Earnings

GLP posted 4Q24 results below expectations, driven by lower fuel margins in GDSO.

Valuation

GLP is considered fairly valued, leading to a downgrade from Buy to Hold.

Global Partners Business Overview & Revenue Model

Company Description

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers in the New England states, Mid-Atlantic region, and New York. The company is also involved in the transportation of petroleum products and renewable fuels through rail from the mid-continent region of the United States and Canada. Its Wholesale segment sells home heating oil, branded and unbranded gasoline and gasoline blendstocks, diesel, kerosene, residual oil, and propane to home heating oil retailers and wholesale distributors. It also aggregates crude oil through truck or pipeline in the mid-continent region of the United States and Canada, as well as transports it through rail and ships it through barge to refiners. The company's Gasoline Distribution and Station Operations segment sells branded and unbranded gasoline to gasoline station operators and sub-jobbers; operates gasoline stations and convenience stores; and provides car wash, lottery, and ATM services, as well as leases gasoline stations. Its Commercial segment sells and delivers unbranded gasoline, home heating oil, diesel, kerosene, residual oil, and bunker fuel to customers in the public sector, as well as to commercial and industrial end-users; and sells custom blended fuels. As of December 31, 2021, the company had a portfolio of 1,595 owned, leased, and supplied gasoline stations, which included 295 directly operated convenience stores; and owned, leased, or maintained storage facilities at 26 bulk terminals with a collective storage capacity of 11.9 million barrels. Global GP LLC serves as the general partner of the company. The company was incorporated in 2005 and is based in Waltham, Massachusetts.

How the Company Makes Money

Global Partners generates revenue primarily through the sale of petroleum products, including gasoline, diesel, and heating oil. Key revenue streams include wholesale fuel distribution to convenience stores, commercial customers, and government entities. Additionally, GLP earns income from its extensive network of retail service stations, where it sells fuel directly to consumers. The company also benefits from terminal operations, which involve the storage and transportation of fuel products. Significant partnerships with major oil companies and local distributors enhance GLP's market reach and logistics capabilities, contributing to its overall earnings. Furthermore, GLP is expanding its revenue model by investing in renewable energy projects and offering cleaner energy alternatives, positioning itself for growth in the evolving energy landscape.

Global Partners Financial Statement Overview

Summary

Global Partners exhibits a mixed financial landscape. While there is robust revenue growth, profitability margins and leverage pose potential risks. The company's ability to manage debt and generate consistent free cash flow will be crucial for sustaining financial health. Strategic focus on reducing debt levels and improving profit margins could enhance overall financial stability.

Income Statement

Global Partners shows a mixed performance in their income statement. Gross profit margin and EBIT margin have experienced fluctuations over the years, with the TTM figures indicating some recovery. However, net profit margin has decreased significantly compared to previous years. Revenue growth from the previous year to TTM is strong at 26.71%, indicating a positive trajectory in revenue generation.

Balance Sheet

The balance sheet reveals a stable yet concerning position with a high debt-to-equity ratio, indicating significant leverage risk. The equity ratio is relatively low, showing limited equity relative to total assets. Return on equity has been declining, suggesting challenges in generating returns for shareholders.

Cash Flow

Cash flow analysis indicates volatility with free cash flow showing significant fluctuations. The operating cash flow to net income ratio is strong, suggesting effective cash generation from operations relative to net income. However, free cash flow growth has been inconsistent, which could pose challenges for future investments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	21.96B	17.16B	16.49B	18.88B	13.25B	8.32B
Gross Profit	941.84M	1.06B	513.83M	1.10B	719.26M	721.14M
EBITDA	401.26M	389.39M	356.36M	565.08M	244.46M	285.24M
Net Income	109.06M	107.69M	152.51M	362.21M	60.80M	102.21M
Balance Sheet
Total Assets	3.78B	3.79B	3.45B	3.16B	2.83B	2.54B
Cash, Cash Equivalents and Short-Term Investments	16.10M	8.21M	19.64M	4.04M	10.85M	9.71M
Total Debt	2.01B	2.03B	1.54B	1.43B	1.57B	1.49B
Total Liabilities	3.10B	3.07B	2.65B	2.37B	2.30B	2.05B
Stockholders Equity	683.00M	713.52M	798.83M	788.44M	-1.90M	1.60M
Cash Flow
Free Cash Flow	256.02M	-286.78M	110.42M	373.20M	-51.50M	236.19M
Operating Cash Flow	360.14M	31.60M	512.44M	480.00M	50.22M	312.53M
Investing Cash Flow	-89.13M	-276.87M	-492.38M	-236.19M	-115.05M	-69.73M
Financing Cash Flow	-263.57M	233.84M	-4.46M	-250.61M	65.97M	-245.13M

Global Partners Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 51.47
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GLP, the sentiment is Positive. The current price of 51.47 is above the 20-day moving average (MA) of 51.21, above the 50-day MA of 51.12, and above the 200-day MA of 50.95, indicating a bullish trend. The MACD of 0.42 indicates Negative momentum. The RSI at 50.10 is Neutral, neither overbought nor oversold. The STOCH value of 64.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GLP.

Global Partners Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DKL	73 Outperform	$2.31B	14.65	542.39%	10.25%	-12.08%	1.44%
Sector *	65 Neutral	$15.28B	7.48	3.19%	5.33%	4.10%	-60.58%
GLP	61 Neutral	$1.77B	20.04	13.89%	5.76%	3.74%	-4.49%
NGL	61 Neutral	$741.52M	―	8.32%	―	-33.19%	81.02%
GEL	56 Neutral	$2.04B	―	-14.68%	3.97%	-28.72%	-1173.53%
MMLP	46 Neutral	$130.44M	33.55	-6.93%	0.63%	-1.06%	-340.61%
SMC	44 Neutral	$436.32M	5.86	-25.85%	―	2.91%	-432.03%

Global Partners Corporate Events

Global Partners Reports Q2 2025 Financial Results

On August 7, 2025, Global Partners LP reported its financial results for the second quarter of 2025, showing a decline in net income and adjusted EBITDA compared to the same period in 2024. Despite the decrease, the company highlighted strategic acquisitions and a diversified asset base as key factors in maintaining growth in earnings and cash flow for the first half of 2025. The company completed an upsized private offering of $450 million of senior unsecured notes and announced a cash distribution to unitholders, indicating a focus on strengthening its financial position and delivering long-term value.

Global Partners Announces Quarterly Cash Distribution

On July 25, 2025, Global Partners LP announced a quarterly cash distribution of $0.7500 per unit for the period from April 1, 2025, through June 30, 2025. This distribution, payable on August 14, 2025, reflects the company’s ongoing commitment to its unitholders and may impact its financial positioning and stakeholder interests, particularly concerning federal income tax withholding for non-U.S. investors.

Global Partners Announces Quarterly Cash Distribution

On July 14, 2025, Global Partners LP announced a quarterly cash distribution of $0.59375 per unit for its 9.50% fixed-rate Series B preferred units, covering the period from May 15, 2025, through August 14, 2025. This distribution will be paid on August 15, 2025, to unitholders of record as of August 1, 2025. The announcement also included information for brokers and nominees holding units on behalf of non-U.S. investors, indicating that distributions are subject to federal income tax withholding.

Global Partners Completes $450M Senior Notes Placement

On June 23, 2025, Global Partners LP and GLP Finance Corp. completed a private placement of $450 million in senior notes due 2033, with an interest rate of 7.125% per annum. The proceeds from this issuance were used to fund a cash tender offer for the company’s outstanding 7.00% senior notes due 2027 and to repay part of the borrowings under the company’s credit agreement. This strategic financial maneuver is expected to optimize the company’s debt structure and potentially improve its financial stability.

Global Partners Announces Tender Offer Results

On June 17, 2025, Global Partners LP announced the expiration and results of its cash tender offer to purchase outstanding 7.00% senior notes due 2027, which expired on June 16, 2025. The company received valid tenders for 90.08% of the principal amount, amounting to $360.316 million. Global Partners plans to use proceeds from the issuance of new 7.125% senior unsecured notes due 2033 to finance the purchase of the tendered notes, with the transaction expected to close on June 23, 2025. This move is part of Global’s strategic financial management to optimize its debt structure.

Global Partners Announces Cash Tender Offer Pricing

On June 16, 2025, Global Partners LP announced the pricing terms of a cash tender offer to purchase all outstanding 7.00% senior notes due 2027. The offer, which was scheduled to expire on the same day, is part of a strategic move to manage the company’s debt, with potential implications for its financial stability and market positioning. The company plans to fund the purchase with proceeds from a contemporaneous senior notes offering, and if not all notes are purchased, intends to redeem any remaining notes by August 1, 2025.

Global Partners Announces $450M Senior Notes Sale

On June 10, 2025, Global Partners LP announced a purchase agreement to sell $450 million in senior notes due 2033, with the proceeds aimed at funding a tender offer for its existing $400 million senior notes due 2027 and repaying part of its credit agreement borrowings. This strategic financial maneuver is expected to optimize the company’s debt profile and potentially enhance its market positioning by addressing its outstanding obligations.

Global Partners Announces $400M Senior Notes Offering

On June 10, 2025, Global Partners LP announced its intention to initiate a private offering of $400 million in senior unsecured notes due 2033. The proceeds from this offering, along with cash on hand, are intended to fund a cash tender offer to purchase all outstanding $400 million of its 7.00% senior notes due 2027. If the tender offer is not fully completed, Global plans to use the remaining proceeds to redeem any outstanding 2027 notes by August 1, 2025. This strategic financial move is aimed at optimizing the company’s debt structure and potentially improving its financial flexibility.

Global Partners Appoints New Vice Chairman

On May 25, 2025, Global Partners LP, a company involved in the energy industry, announced the appointment of Thomas P. Jalkut to its Board following the passing of Richard Slifka. Mr. Jalkut, a partner at Nutter McClennen and Fish LLP, brings extensive experience in estate planning and trust administration. Eric Slifka has been appointed as the new Chairman, while Mr. Jalkut will serve as Vice Chairman, potentially impacting the company’s governance and strategic direction.