GLPNYSEWholesale-Petroleum Bulk Stations & TerminalsUS GAAP · USD

Global Partners LP

Global Partners LP is a U.S. master limited partnership that buys, stores, blends, transports and distributes refined petroleum products and renewable fuels. It also owns and supplies a large network of gasoline stations and convenience stores, with a concentration in the Northeast and additional terminal, rail, pipeline and marine-linked logistics assets across the U.S. East Coast and Gulf States.

Kysy yhtiöstä
Liikevaihto18,6mrd USD
+8,1 %v/v
Liikevoitto (EBIT)235milj. USD
−6,6 %v/v
EBIT-marginaali1,3%
−0,2 %-yks.v/v
Nettotulos98,0milj. USD
−11,2 %v/v
Vapaa kassavirta285milj. USD
+801,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

05101520mrd USD2020: 8,3 mrd USD2020: EBIT 0,19 mrd USD20202021: 13,2 mrd USD2021: EBIT 0,14 mrd USD20212022: 18,9 mrd USD2022: EBIT 0,46 mrd USD20222023: 16,5 mrd USD2023: EBIT 0,24 mrd USD20232024: 17,2 mrd USD2024: EBIT 0,25 mrd USD20242025: 18,6 mrd USD2025: EBIT 0,23 mrd USD202518,60,23
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Global Partners LP

Liiketoiminta

Osuus liikevaihdosta
Wholesale fuels55 %

Sales and distribution of gasoline, distillates, residual oil, renewable fuels and propane to retail and commercial customers.

Retail fuel and convenience25 %

Owned, leased and supplied gasoline stations plus directly operated convenience stores and related rental income.

Terminal and logistics services12 %

Storage, blending, terminalling and transportation services supported by rail, pipeline and marine assets.

Commercial and marine supply8 %

Fuel deliveries to public sector, industrial customers and bunkering activity for ships.

Tuotteet

Raportoitu · osuus liikevaihdosta
94,7%FY2025100 %
  • Refined Petroleum Products Renewable Fuels Crude Oil and Propane94,7 %
  • Station Operations5,3 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Global Partners sells to a mix of retail motorists, independent dealers, wholesalers, commercial end users and public-sector buyers. Its customer base is shaped by fuel type and delivery channel: station operators and dealers buy branded or unbranded gasoline, while industrial, municipal and marine customers buy distillates, heating oil, bunker fuel and custom blends.

Retail gasoline consumers

Drivers purchasing fuel and convenience items at company-operated or supplied stations, where traffic and fuel margins drive performance.

Independent dealers and distributors

Dealer-leased stations, cobranding partners and distributors in New England that buy branded gasoline supply and related services.

Commercial and industrial end users

Large users of diesel, heating oil, kerosene and residual oil that buy on contract or through bidding processes.

Public sector customers

Government and municipal buyers that source fuel through competitive bids and term contracts.

Marine and bunkering customers

Ships and marine operators buying custom blended fuels and bunker fuel delivered through terminals or barges.

Strategia

Global Partners is focused on maintaining and upgrading its fuel distribution and retail network while funding selective expansion capital in stations and terminals. It also relies on logistics connectivity and supply relationships to secure product flow, manage seasonal demand swings and support cash distributions to unitholders.

Expand and refresh station and terminal assetsKeskipitkä aikaväli

Keeps the retail network competitive and supports throughput, storage and distribution capacity.

Protect supply chain and logistics flexibilityLyhyt aikaväli

The business depends on reliable access to refined products, renewable fuels and transport capacity.

Preserve distributable cash flowLyhyt aikaväli

As a master limited partnership, cash generation and capital discipline are central to investor returns.

Maantiede

The company’s core footprint is the U.S. Northeast, especially Massachusetts, Maine, Connecticut, Vermont, New Hampshire, Rhode Island, New York, New Jersey and Pennsylvania. Its terminal and logistics network extends from Maine to Florida and into the U.S. Gulf States, with additional station exposure in Texas through a joint venture and rail supply links from the mid-continent U.S. and Canada.

Riskit

The business is exposed to fuel price volatility, demand swings, logistics cost inflation and strong competition from integrated refiners, wholesalers and retail chains. It also faces seasonal heating demand, credit and counterparty risk, tariff and trade restrictions, and operational or cyber disruptions that could affect supply continuity and cash available for distributions.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Commodity price and demand volatility1Trade credit and counterparty nonperformance2Seasonality of heating oil and related products3Competitive pressure from larger fuel distributors and retailers4Cybersecurity and operational disruption5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Commodity price and demand volatilityVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Margins depend on spreads, volumes and customer demand for refined products and renewable fuels.

    KohdistuuWholesale fuelsRetail fuelLogistics
  2. Trade credit and counterparty nonperformanceVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company extends credit and uses derivative and supply counterparties that may fail to pay or perform.

    Kohdistuu: Wholesale and hedging activities

  3. Seasonality of heating oil and related productsVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Winter weather drives demand and can cause large quarter-to-quarter swings in results.

    KohdistuuHome heating oilDistillatesResidual oil
  4. Competitive pressure from larger fuel distributors and retailersVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Larger competitors may undercut prices or secure better supply economics.

    KohdistuuRetail stationsWholesale distributionLogistics
  5. Cybersecurity and operational disruptionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Terminal, retail and logistics operations depend on secure IT and control systems.

    KohdistuuNetworkPaymentSupply chain systems
Kysy Clarifolta: Global Partners LP

Kirjanpito

Harkinnanvaraiset erät
Physical forward derivative contracts

These are measured at fair value and can materially affect reported gains or losses as fuel prices move.

Vaikutus: Derivative assets and liabilities, earnings volatility

Goodwill valuation

Acquisitions and reporting units in retail and terminal businesses may require impairment testing.

Vaikutus: Potential non-cash impairment charges

Environmental liabilities

Fuel storage, terminals and retail sites can create remediation obligations that require estimation.

Vaikutus: Accrued liabilities and expense recognition

Financing obligations from sale-leasebacks

Some historical sale-leaseback transactions are accounted for as financing obligations rather than sales.

Vaikutus: Debt-like liabilities and interest expense presentation

Seasonality and interim comparability

Heating demand and weather can materially change quarterly revenue and margins.

Vaikutus: Quarterly results and cash flow timing

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 24.9.2026