Global Partners (NYSE:GLP – Get Free Report) announced its quarterly earnings data on Friday. The energy company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.35), FiscalAI reports. The company had revenue of $6.68 billion during the quarter, compared to analyst estimates of $7.41 billion. Global Partners had a return on equity of 30.87% and a net margin of 0.91%.
Here are the key takeaways from Global Partners’ conference call:
- Profitability and cash flow improved: Third-quarter adjusted EBITDA rose to $122.9 million from $98.8 million a year earlier, while adjusted distributable cash flow increased to $70.3 million from $53.3 million.
- Wholesale strength more than offset retail weakness: Wholesale product margin increased $33.4 million to $111.4 million on more favorable market conditions, while GDSO product margin fell $8.3 million, primarily because of lower gasoline volumes.
- Higher retail fuel prices weighed on customer fuel consumption and gasoline distribution volumes. Management also expects steep backwardation in forward pricing to raise the cost of carrying hedged inventory in future periods.
- Distribution increased for the 20th consecutive quarter to $0.785 per unit, or $3.14 annualized; quarter-end distribution coverage was 2.3 times.
- The company reported leverage of approximately 2.8 times, redeemed its $75 million of Series B preferred units, and extended its credit agreement maturity to October 2031. It raised its 2026 maintenance capital expenditure outlook by $5 million, to $65 million–$75 million.
Global Partners Price Performance
Shares of GLP stock traded up $2.46 during mid-day trading on Friday, reaching $44.13. The company’s stock had a trading volume of 160,159 shares, compared to its average volume of 53,423. Global Partners has a 1-year low of $39.58 and a 1-year high of $54.29. The company has a market cap of $1.50 billion, a P/E ratio of 8.99 and a beta of 1.10. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.71 and a current ratio of 1.19. The firm’s 50-day moving average is $48.87 and its two-hundred day moving average is $47.97.
Global Partners Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 9th will be issued a $0.7850 dividend. This is a boost from Global Partners’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 9th. This represents a $3.14 annualized dividend and a yield of 7.1%. Global Partners’s payout ratio is presently 63.54%.
Wall Street Analyst Weigh In
GLP has been the topic of several research analyst reports. Wall Street Zen lowered shares of Global Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings raised Global Partners from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Global Partners currently has a consensus rating of “Hold” and an average price target of $46.00.
View Our Latest Stock Report on Global Partners
Global Partners Company Profile
Global Partners LP (NYSE: GLP) is an integrated energy company that owns, supplies, stores, transports and markets energy products. The company’s activities include the wholesale distribution of gasoline, diesel, distillates, residual oil, renewable fuels and other petroleum products, as well as the terminaling and storage of these products.
Global Partners serves customers primarily across the northeastern and mid-Atlantic United States. Its wholesale operations supply gasoline stations, commercial and industrial users, utilities, distributors and other energy customers.
Read More
- Five stocks we like better than Global Partners
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Receive News & Ratings for Global Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Partners and related companies with MarketBeat.com's FREE daily email newsletter.
