Global Partners LP (GLP) Releases Earnings Results, Misses Expectations By $-0.02 EPS

Global Partners LP (GLP) reported quarterly earnings results on Monday, May-9-2016. The company reported $-0.21 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $-0.19. The company posted revenue of $1751.00 million in the period, compared to analysts expectations of $2254.29 million. The company’s revenue was down -41.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS.

Many Wall Street Analysts have commented on Global Partners LP. Global Partners LP was Initiated by Stifel to “Hold” on Feb 23, 2016.

Global Partners LP opened for trading at $12.71 and hit $13.43 on the upside on Friday, eventually ending the session at $13.38, with a gain of 5.35% or 0.68 points. The heightened volatility saw the trading volume jump to 1,07,005 shares. Company has a market cap of $455 M.

In a different news, on Sep 4, 2015, Daphne H. Foster (CFO) purchased 2,000 shares at $31.17 per share price. According to the SEC, on Aug 14, 2015, Kenneth I Watchmaker (director) purchased 3,800 shares at $31.60 per share price.

Global Partners LP is a midstream logistics and marketing company that engages in the purchasing selling and logistics of transporting petroleum and related products including domestic and Canadian crude oil gasoline and gasoline blendstocks distillates residual oil renewable fuels natural gas and propane. The Company operates through three segments: Wholesale Gasoline Distribution and Station Operations (GDSO) and Commercial. The Wholesale segment engages in the logistics of selling gathering storage and transportation of refined petroleum products renewable fuels crude oil and propane. The GDSO segment is engaged in gasoline distribution and station operations such as convenience store car wash and other ancillary sales. The Commercial segment includes sales and deliveries of unbranded gasoline home heating oil diesel kerosene residual oil bunker fuel and natural gas. The Company’s product brands include Global Diesel One and Heating Oil Plus.

Global Partners LP

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