Global Partners (GLP) Tops Q1 EPS by 8c, Revenues Beat

Global Partners (NYSE: GLP) reported Q1 EPS of $0.15, $0.08 better than the analyst estimate of $0.07. Revenue for the quarter came in at $2.98 billion versus the consensus estimate of $2.91 billion.

“Our first-quarter results reflect solid performance,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “Product margin in our Gasoline Distribution and Station Operations (GDSO) segment increased 22% from the same period in 2018 driven by strong fuel margins early in the quarter and contributions from the acquisitions of Champlain Oil and Cheshire Oil.”

Business Outlook

“We are off to a solid start in 2019,” Slifka said. “Our terminal network and retail locations continue to perform in line with our expectations, and we are on track to achieve our full-year EBITDA guidance.”

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

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