This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Global Partners Reports Third-Quarter 2012 Financial Results

Global Partners LP (NYSE: GLP) today reported financial results for the quarter ended September 30, 2012.

Third-Quarter 2012 Financial Summary

Net income for the third quarter of 2012 was $6.9 million, or $0.24 per diluted limited partner unit, compared with net income of $1.9 million, or $0.08 per diluted limited partner unit, for the third quarter of 2011.

Earnings before interest, taxes, depreciation and amortization (EBITDA) for the third quarter of 2012 were $29.5 million, compared with $18.7 million for the same period of 2011.

Distributable cash flow (DCF) for the third quarter of 2012 was $15.0 million, compared with $8.6 million for the third quarter of 2011.

EBITDA and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under "Use of Non-GAAP Financial Measures." Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months ended September 30, 2012 and 2011.

“Our year-over-year improvement reflects the success of our strategy, as we continue to strengthen our business through organic growth and strategic acquisitions,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “The combination of our Alliance Energy acquisition, which was completed in the first quarter of this year, our growing crude oil business and our fuel supply and services agreement with Getty Realty helped to drive our year-over-year results for Global Partners. In addition to volume of 1.6 billion gallons of petroleum products – the largest single quarter in our history – we generated record third-quarter net income, EBITDA and distributable cash flow.”

“As we expected, our third quarter results did not match the performance we achieved in the second quarter due to the significant increase in gasoline prices from the end of June to the end of September, which adversely affected our margin results.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs