Global Partners LP Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw strong financial and operational performance, with net income and EBITDA rising sharply year-over-year. All segments contributed to growth, supported by improved fuel margins and disciplined capital management. The balance sheet remains robust, and the company is well-positioned for continued returns.
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Q1 2026 saw exceptional financial performance with net income and EBITDA more than doubling year-over-year, driven by strong segment margins and favorable market conditions. Management remains focused on disciplined execution amid ongoing volatility and expects CapEx and SG&A to normalize for the rest of the year.
Fiscal Year 2025
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Disciplined execution and strategic acquisitions drove higher volumes and margins in 2025, despite mixed segment performance. Strong fuel margins and portfolio optimization supported results, while investments in analytics and infrastructure position the business for future growth.
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Q3 2025 saw strong wholesale performance and continued terminal network optimization, though net income and margins declined year-over-year. Retail initiatives and expansion into Houston's marine fuel market support long-term growth, while CapEx and distribution coverage remain robust.
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Second-quarter results showed year-to-date net income up 8% and adjusted EBITDA up 7% year-over-year, despite weather-related headwinds and lower site count. Recent terminal acquisitions and disciplined capital allocation supported long-term growth, with a 15th consecutive distribution increase.
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First quarter results showed strong year-over-year growth in profitability, led by the wholesale segment and successful terminal acquisitions. Net income, EBITDA, and distributable cash flow all increased significantly, while portfolio optimization and disciplined capital allocation supported long-term growth.
Fiscal Year 2024
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2024 saw transformative growth with major terminal acquisitions, doubling storage capacity and expanding market reach. Despite lower Q4 margins versus a strong prior year, full-year segment growth and disciplined capital allocation position the company for continued expansion.
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Year-over-year gains in all key metrics, driven by strong retail and wholesale performance, strategic terminal acquisitions, and disciplined capital allocation. Expansion CapEx for 2024 was revised down, and the company is accelerating EV charging initiatives.
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Year-over-year growth in all key profitability metrics was driven by strong wholesale and GDSO performance, strategic terminal acquisitions, and robust retail fuel margins. Distribution increased 6.7%, and leverage remains manageable as expansion and optimization continue.