Global Partners (NYSE: GLP) reported Q3 EPS of $0.38, $0.18 better than the analyst estimate of $0.20. Revenue for the quarter came in at $3.25 billion versus the consensus estimate of $3.33 billion.

“We delivered strong third-quarter results highlighted by product margin increases,” said President and Chief Executive Officer Eric Slifka. “In our Gasoline Distribution and Station Operations segment (GDSO), we benefited from higher retail fuel margins and a full quarter of results from our Champlain and Cheshire Oil portfolio of retail stations and convenience stores, which we acquired in July of last year. In our Wholesale segment, product lines primarily benefited from favorable market conditions.”

Business Outlook

“We had a strong performance through the first nine months of 2019, and our terminal network and retail assets provide us with a solid foundation as we move forward,” Slifka said.

For full-year 2019, Global has raised its EBITDA guidance to a range of $225 million to $240 million, before recognition of a $13.1 million loss on the early extinguishment of debt expense in the third quarter of 2019, compared with prior EBITDA guidance of $200 million to $225 million. Global’s guidance excludes gains or losses on the sale and disposition of assets and goodwill and long-lived asset impairment charges.

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