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Last $39.55 USD
Change Today +0.18 / 0.46%
Volume 46.9K
GLP On Other Exchanges
Symbol
Exchange
Berlin
As of 3:30 PM 05/6/15 All times are local (Market data is delayed by at least 15 minutes).

global partners lp (GLP) Snapshot

Open
$39.81
Previous Close
$39.37
Day High
$40.01
Day Low
$39.38
52 Week High
11/21/14 - $45.75
52 Week Low
12/16/14 - $30.45
Market Cap
1.2B
Average Volume 10 Days
182.1K
EPS TTM
$3.96
Shares Outstanding
31.0M
EX-Date
05/4/15
P/E TM
10.0x
Dividend
$2.72
Dividend Yield
6.66%
Current Stock Chart for GLOBAL PARTNERS LP (GLP)

global partners lp (GLP) Related Businessweek News

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global partners lp (GLP) Details

Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, renewable fuels, crude oil, natural gas, and propane to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial. The Wholesale segment sells unbranded gasoline blendstocks, such as ethanol and naphtha, as well as diesel to unbranded gasoline customers and other resellers of transportation fuels; home heating oil, diesel, kerosene, residual oil, and propane to home heating oil retailers and wholesale distributors; and crude oil to refiners. The Gasoline Distribution and Station Operations segment sells branded and unbranded gasoline to gasoline stations and other sub-jobbers; operates gasoline stations and convenience stores; and provides car wash and other ancillary services, as well as leases gasoline stations. As of December 31, 2014, this segment had a portfolio of approximately 1,000 owned, leased, and/or supplied gasoline stations, including 134 convenience stores, primarily in the Northeast. The Commercial segment sells and deliveries unbranded gasoline, home heating oil, diesel, kerosene, residual oil, renewable fuels, and natural gas to end user customers in the public sector, and to large commercial and industrial end users, as well as sells custom blended fuels. As of December 31, 2014, the company owned, leased, or maintained 25 refined petroleum product bulk terminals with the capacity of approximately 50,000 barrels. Global GP LLC serves as the general partner of the company. Global Partners LP was founded in 2005 and is based in Waltham, Massachusetts.

Founded in 2005

global partners lp (GLP) Top Compensated Officers

Chief Executive Officer of Global GP LLC, Pre...
Total Annual Compensation: $1.4M
Chief Financial Officer of Global Gp Llc
Total Annual Compensation: $600.0K
Chief Operating Officer of Global Gp Llc
Total Annual Compensation: $1.0M
Executive Vice President of Global GP LlC, Pr...
Total Annual Compensation: $625.0K
Executive Vice President of Global GP LLC, Ge...
Total Annual Compensation: $776.0K
Compensation as of Fiscal Year 2014.

global partners lp (GLP) Key Developments

Global Partners LP Announces Third Amendment to Second Amended and Restated Credit Agreement

On April 27, 2015, Global Partners LP (the Partnership) and certain of its subsidiaries entered into the Third Amendment to the Second Amended and Restated Credit Agreement, which amends the Second Amended and Restated Credit Agreement dated December 16, 2013 (as amended, the Credit Agreement). The Third Amendment amends certain terms, provisions and covenants to take into account (i) the Partnership's previously announced proposed acquisition of certain owned and/or leased retail gas stations and dealer supply contracts in New York City and Prince George's County, Maryland and (ii) future acquisitions of similar assets. In addition, the Third Amendment permits the Partnership to use proceeds from a sale of its units to a third party in order to repurchase units from Original Investors.

Global Partners LP Declares Cash Distribution for the First Quarter of 2015, Payable on May 15, 2015

Global Partners LP announced that the Board of Directors of its general partner, Global GP LLC, has declared a quarterly cash distribution of $0.68 per unit ($2.72 per unit on an annualized basis) on all of its outstanding common units for the period from January 1 through March 31, 2015. The distribution will be paid May 15, 2015 to unitholders of record as of the close of business on May 6, 2015. The distribution to be paid in May 2015 represents an increase of 2.26% over the quarterly distribution of $0.6650 per unit paid in February 2015 and an increase of 8.80% over the quarterly distribution of $0.6250 per unit paid in May 2014.

Global Partners LP Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Global Partners LP reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. The company reported fourth quarter revenue of $3.53 billion, down from $4.80 billion last year. Net income attributable to the company was $27.9 million compared with $34 million in the fourth quarter of the prior year, reflecting higher depreciation from additional investments in business and higher interest expense due to the issuance of high-yield bonds midyear. Diluted net income per limited partner unit was $0.93, compared to $1.20 last year. The company’s results benefited in part from significantly colder weather and an unusually favorable gasoline blend stocks market in the first quarter and from the steep decline in gasoline prices during the second half of 2014. Operating income was $40.872 million, down from $44.42 million in the prior-year period. Income before income tax was $28.785 million, down from $32.996 million in the prior-year period. EBITDA was $61.9 million, a decrease of approximately $3 million from the prior year period, reflecting higher expenses associated with investments in Wholesale and GDSO businesses which offset the increase in gross margin. Maintenance capital expenditures were $5.648 million compared to $1.785 million for the same period last year. Distributable cash flow was $44.359 million compared to $52.504 million for the same period last year. Total capex was approximately $21.5 million For the year, the company reported sales was $17,269.954 million compared to $19,589.608 million for the same period last year. Operating income was $165.707 million compared to $85.409 million for the same period last year. Income before income tax was $17.9436 million compared to $41.872 million for the same period last year. Net income attributable to Global Partners LP was $14.709 million compared to $42.615 million for the same period last year. Diluted net income per limited partner unit was $3.95, compared to $1.42 last year. EBITDA was $242.279 million compared to $157.394 million for the same period last year. Maintenance capital expenditures were $34.115 million compared to $10.977 million for the same period last year. Distributable cash flow was $161.224 million compared to $105.254 million for the same period last year. The company’s EBITDA guidance range for 2015 is $205 million to $225 million. The guidance is based on assumptions regarding market conditions such as demand for petroleum products and renewable fuel, commodity prices, weather, credit market, the regulatory and permitting environment and the forward product pricing curve, which could influence quarterly financial results.

 

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Industry Analysis

GLP

Industry Average

Valuation GLP Industry Range
Price/Earnings 10.1x
Price/Sales 0.1x
Price/Book 2.1x
Price/Cash Flow 9.7x
TEV/Sales 0.0x
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