Global Partners (NYSE: GLP) reported Q4 EPS of $0.93, versus $1.20 reported last year. Revenue for the quarter came in at $3.5 billion, versus $4.8 billion reported last year.

Business Outlook

“Our fundamental bias remains that supply and demand patterns favor the movement of mid-continent light crude to the East and West Coasts,” Slifka said. “Although current market conditions are drawing a portion of those light crude barrels to empty storage at the Cushing, Oklahoma oil hub, that demand is temporary. Once storage in Cushing is full, we expect to see much of this mid-continent sweet crude volume again move East and West. Our wholesale supply and logistics operations are well positioned to handle those volumes.”

“Looking ahead, we have several key organic projects on the horizon,” Slifka said. “We continue to expand our network of gathering, pipeline and storage assets in the mid-continent region. In Port Arthur, Texas we are pursuing permits to develop our waterborne rail terminal project, which remains on target to open in early 2017 and is a key milestone in the build-out of our system. At our CPBR terminal in Oregon we are pursuing plans to build additional storage, enlarge the dock and increase rail capacity. Our goal at CPBR is to concurrently offload crude trains and operate the ethanol manufacturing facility, creating additional product flexibility. We expect to complete this expansion next year.”

In Global’s GDSO segment, the integration of the Warren Equities acquisition is proceeding on plan and achieving anticipated synergies. The acquisition is expected to be accretive in the first full year of operations and generate $50 million to $60 million of EBITDA in the second full year of operations.

Global’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 fuels, weather, credit markets, the regulatory and permitting environment, and the forward product pricing curve, which could influence quarterly financial results. The guidance does not take into account unusually favorable market conditions such as Global experienced with respect to gasoline blendstocks in the first quarter of 2014, and with respect to rapidly declining gasoline prices in the second half of 2014.

For earnings history and earnings-related data on Global Partners (GLP) click here.