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Global Partners (GLP) Tops Q2 EPS by 7c, Revenues Beat

August 9, 2018 8:11 AM

Global Partners (NYSE: GLP) reported Q2 EPS of $0.19, $0.07 better than the analyst estimate of $0.12. Revenue for the quarter came in at $3.13 billion versus the consensus estimate of $2.57 billion.

“We completed the first half of 2018 with a solid second quarter,” said President and CEO Eric Slifka. “We continue to execute on our strategy to expand our retail gasoline business with the July acquisitions of Champlain and Cheshire, which added 136 sites, including 62 owned properties. The location of these stations in Vermont and New Hampshire allow us to leverage our terminal assets in Albany, N.Y. and Burlington, Vt. and drive economies of scale.”

“Through organic investments and strategic M&A, we are leveraging our expertise in acquiring, integrating and operating assets,” Slifka said. “We begin the second half of 2018 well positioned financially and operationally to expand our asset base and continue to execute on our growth objectives.”

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

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