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
TheStreet Open House

Global Partners Reports Record Fourth-Quarter And Full-Year 2012 Financial Results

Full Year 2012 Financial SummaryNet income for the 12 months ended December 31, 2012 was $46.7 million, or $1.71 per diluted limited partner unit, compared with $19.4 million, or $0.87 per diluted limited partner unit, for the same period in 2011. The Partnership had approximately 26.6 million and 21.5 million diluted weighted average limited partner units outstanding for the 12 months ended December 31, 2012 and 2011, respectively.

Combined net product margin for 2012 was $370.2 million, compared with $234.0 million for 2011.

EBITDA for the 12 months ended December 31, 2012 increased 58% to $135.8 million from $85.7 million for the same period in 2011.

Distributable cash flow for 2012 was $80.8 million, compared with $46.7 million for the comparable period in 2011.

Sales for the 12 months ended December 31, 2012 increased 19% to $17.6 billion, compared with $14.8 billion for the same period in 2011, reflecting the contributions of crude oil activity and the Alliance acquisition. Wholesale segment sales were $13.8 billion, or 78% of total sales, for 2012, compared with $12.6 billion, or 85% of total sales, for 2011. Sales from the Gasoline Distribution and Station Operations segment were $3.1 billion, or 18% of total sales, for 2012, compared with $1.5 billion, or 10% of total sales, for 2011. Commercial segment sales were $716.2 million, or 4% of total sales, for 2012, compared with $775.0 million, or 5% of total sales, for 2011.

Combined product volume totaled 6.1 billion gallons in 2012, compared with 5.2 billion gallons in 2011. Wholesale segment volume increased to 4.8 billion gallons versus 4.4 billion gallons in 2011. Volume in the Gasoline Distribution and Station Operations segment was up 115% to 954.3 million gallons in 2012 from 442.9 million gallons in 2011 . Commercial segment volume increased to 352.2 million gallons in 2012, compared with 338.2 million gallons in 2011.

Combined gross profit increased 59% to $333.5 million in 2012 from $209.6 million in 2011. Total wholesale net product margin grew 17% to $145.4 million in 2012, compared with $123.8 million for the same period in 2011. In the Gasoline Distribution and Station Operations segment, net product margin increased 134% to $206.1 million from $88.2 million in 2011. Commercial segment net product margin decreased to $18.7 million in 2012 compared with $22.0 million in 2011.

3 of 10

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs