The massive earnings beat and strong cash flow generation support the increased distribution, making GLP units attractive for income-focused investors. Monitor the Q2 2026 earnings for sustainability of wholesale margin strength and any impact from potential changes in fuel demand or regulatory environment.
Price Chart
Executive Summary
Global Partners LP reported Q1 2026 net income of $70.1M ($1.85/diluted unit), a massive increase from $18.7M ($0.36/diluted unit) in Q1 2025, driven by strong performance across all segments, particularly Wholesale where product margin surged 65% to $154.1M. Total sales rose 15.9% to $5.32B, and Adjusted EBITDA jumped 54% to $140.4M, reflecting the benefits of the company's integrated platform and favorable market conditions.
Key Financial Metrics
Key Facts
- Net income of $70.1M vs $18.7M YoY, a 275% increase
- Diluted EPS of $1.85 vs $0.36 YoY, a 414% increase
- Total sales of $5.32B vs $4.59B YoY, up 15.9%
- Adjusted EBITDA of $140.4M vs $91.3M YoY, up 53.8%
- Wholesale segment product margin $154.1M vs $93.6M YoY, up 64.6%
- GDSO segment product margin $199.3M vs $187.9M YoY, up 6.1%
- Adjusted DCF of $96.8M vs $46.5M YoY, more than doubled
- Quarterly distribution increased to $0.7650 per unit ($3.06 annualized)
Financial Impact
Net income surged $51.4M YoY; Adjusted EBITDA up $49.1M; Adjusted DCF more than doubled to $96.8M
Risk Factors
- Wholesale segment margins are sensitive to market conditions and could revert
- Total debt of $1.75B (working capital + revolver + senior notes) remains elevated
- Working capital revolver drawn $308.3M, up significantly from $126.1M at year-end 2025
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-057571 |
| Document: tm2613603d1_8k.htm | 0001104659-26-057571 |
| Document: 0001104659-26-057571-index-headers.html | 0001104659-26-057571 |
| Document: 0001104659-26-057571-index.html | 0001104659-26-057571 |
| Document: 0001104659-26-057571.txt | 0001104659-26-057571 |
| 8-K Data (Synthetic) | 0001104659-26-057571 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 15-12G | $50.01 $53.47 | ▲ +6.92% | ▲ +7.98% | $46.63 (−6.76%) |
Aug 7, 2026 8w ago | 8-K | $50.18 $52.70 | ▲ +5.02% | ▲ +5.42% | $46.63 (−7.07%) |
Jul 30, 2026 9w ago | 25-NSE | $48.97 $50.40 | ▲ +2.92% | ▼ −1.05% | $46.63 (−4.78%) |
Jul 29, 2026 9w ago | 8-K | $48.46 $50.08 | ▲ +3.34% | ▼ −1.68% | $46.63 (−3.78%) |
Jun 29, 2026 13w ago | 8-K | $46.59 $48.22 | ▲ +3.50% | ▲ +4.53% | $46.63 (+0.09%) |
Jun 16, 2026 15w ago | Insider Buy | $43.40 $48.84 | ▲ +12.53% | ▲ +11.22% | $46.63 (+7.44%) |
Jun 11, 2026 16w ago | Insider Buy | $47.13 $48.33 | ▲ +2.55% | ▲ +0.77% | $46.63 (−1.06%) |
Jun 8, 2026 16w ago | Insider Buy | $48.22 $48.47 | ▲ +0.52% | ▼ −0.93% | $46.63 (−3.30%) |
May 8, 2026 21w ago | 8-K | $25.39 $25.51 | ▲ +0.49% | ▲ +0.46% | $46.63 (+83.68%) |
Apr 30, 2026 22w ago | 8-K | $25.31 $25.39 | ▲ +0.31% | ▼ −4.66% | $46.63 (+84.23%) |
US Market Status
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