Stock of the Day

July 9, 2021

Global Partners (GLP)

$51.40
+$0.90 (+1.8%)
Market Cap: $1.72B

About Global Partners

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. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial. The Wholesale segment sells home heating oil, branded and unbranded gasoline and gasoline blendstocks, diesel, kerosene, and residual oil to home heating oil and propane retailers and wholesale distributors. This segment also transports the products by railcars, barges, trucks and/or pipelines. Its 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. The 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. 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. Global Partners LP was founded in 2005 and is based in Waltham, Massachusetts.

Today's Trend

Global Partners LP (NYSE: GLP) shares have increased as investors react to a strong second-quarter earnings report, plans for expansion and continued cash returns.

  • Results substantially exceeded expectations. Global Partners reported second-quarter adjusted EPS of $1.86, compared with the $1.24 consensus estimate. Management highlighted record net income and strong contributions across all business segments, supporting the view that the company is executing effectively in a dynamic energy market. Global Partners LP Reports Second-Quarter 2026 Financial Results
  • Expansion spending and capital returns provide additional support. The partnership outlined $75 million to $85 million of 2026 expansion capital expenditures and plans to redeem its Series B preferred units. The investments could expand future earnings capacity, while the redemption may simplify the capital structure and reduce preferred-unit obligations. Global Partners outlines 2026 expansion CapEx of $75M-$85M as it redeems Series B preferred units
  • Cash-return efforts remain a favorable investor signal. Coverage of the quarterly update emphasized strong earnings and cash returns, reinforcing the appeal of GLP’s income-oriented investment case. Global Partners Reports Strong Quarterly Earnings and Cash Returns
  • Analyst sentiment remains constructive but not uniformly bullish. Wall Street Zen changed its rating to Buy, which is supportive overall but may represent a reduction from a stronger prior rating. Global Partners Cut to Buy at Wall Street Zen
  • Revenue fell short of expectations. Quarterly revenue was $6.79 billion versus the $7.51 billion consensus estimate. Although earnings benefited from stronger profitability, the sales miss and the partnership’s thin net margin of 0.77% remain risks for investors.
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