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Global Partners (GLP)

With approximately 1,550 locations primarily in the Northeast, Global Partners is one of the region's largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol 'GLP.'

Company profile

Ticker
GLP, GLP-PA, GLP-PB
Exchange
Website
CEO
Eric Slifka
Employees
Location
Fiscal year end
SEC CIK
Subsidiaries
Alliance Energy LLC • Basin Transload, LLC • Cascade Kelly Holdings LLC • Drake Petroleum Company, Inc. • Global Companies LLC • Global Montello Group Corp. • Global Operating LLC • GLP Finance Corp. • Warex Terminals Corporation • Warren Equities, Inc. ...
IRS number
743140887

GLP stock data

Calendar

5 Aug 22
4 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 7.38M 7.38M 7.38M 7.38M 7.38M 7.38M
Cash burn (monthly) 1.15M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 3.62M n/a n/a n/a n/a n/a
Cash remaining 3.76M n/a n/a n/a n/a n/a
Runway (months of cash) 3.3 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
2 Aug 22 Global GP Common units representing limited partner interests Other Acquire J No No 27.78 55,899 1.55M 103,259
2 Aug 22 Global GP Common units representing limited partner interests Other Dispose J No No 27.78 92,274 2.56M 47,360
2 Aug 22 Global GP Common units representing limited partner interests Other Acquire J No No 27.78 55,899 1.55M 47,360
2 Aug 22 Global GP Common units representing limited partner interests Other Dispose J No No 27.78 148,173 4.12M 0
24 Jun 22 Global GP Common units representing limited partner interests Buy Acquire P No No 23.01 5,000 115.05K 139,634
23 Jun 22 Global GP Common units representing limited partner interests Buy Acquire P No No 22.05 5,433 119.8K 134,634
22 Jun 22 Global GP Common units representing limited partner interests Buy Acquire P No No 23.01 7,500 172.58K 129,201
21 Jun 22 Global GP Common units representing limited partner interests Buy Acquire P No No 22.51 2,900 65.28K 121,701
17 Jun 22 Global GP Common units representing limited partner interests Buy Acquire P No No 20.46 6,545 133.91K 118,801
16 Jun 22 Global GP Common units representing limited partner interests Buy Acquire P No No 21.37 5,000 106.85K 112,256
1.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 23 27 -14.8%
Opened positions 1 4 -75.0%
Closed positions 5 2 +150.0%
Increased positions 8 6 +33.3%
Reduced positions 5 7 -28.6%
13F shares Current Prev Q Change
Total value 1.8B 13.94M +12796.7%
Total shares 475.96K 511.06K -6.9%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
GS Goldman Sachs 193.52K $4.55M +42.2%
BNP Paribas Arbitrage 76.08K $1.79B +334.0%
Bramshill Investments 62.2K $1.46M +5.6%
Tortoise Capital Advisors, L.L.C. 33.7K $792K -13.6%
Tortoise Index Solutions 25.1K $590K +7.5%
Jump Financial 15.84K $372K +80.2%
Janney Montgomery Scott 14.98K $362K 0.0%
Raymond James Trust N.a. 13.52K $318K 0.0%
Russell Investments 9.19K $215K 0.0%
BCS Barclays 8.05K $190K +94.5%
Largest transactions Shares Bought/sold Change
Cerity Partners 0 -100K EXIT
BNP Paribas Arbitrage 76.08K +58.55K +334.0%
GS Goldman Sachs 193.52K +57.42K +42.2%
Greenwich Investment Management 0 -25.1K EXIT
Spinnaker Trust 0 -12.45K EXIT
Cutler Capital Management 0 -11.6K EXIT
Oxbow Advisors 0 -10K EXIT
Jump Financial 15.84K +7.05K +80.2%
Tortoise Capital Advisors, L.L.C. 33.7K -5.31K -13.6%
BCS Barclays 8.05K +3.91K +94.5%

Financial report summary

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Management Discussion
  • Our management uses a variety of financial and operational measurements to analyze our performance. These measurements include: (1) product margin, (2) gross profit, (3) earnings before interest, taxes, depreciation and amortization (“EBITDA”) and Adjusted EBITDA, (4) distributable cash flow, (5) selling, general and administrative expenses (“SG&A”), (6) operating expenses and (7) degree days.
  • We view product margin as an important performance measure of the core profitability of our operations. We review product margin monthly for consistency and trend analysis. We define product margin as our product sales minus product costs. Product sales primarily include sales of unbranded and branded gasoline, distillates, residual oil, renewable fuels and crude oil, as well as convenience store and prepared food sales, gasoline station rental income and revenue generated from our logistics activities when we engage in the storage, transloading and shipment of products owned by others. Product costs include the cost of acquiring products and all associated costs including shipping and handling costs to bring such products to the point of sale as well as product costs related to convenience store items and costs associated with our logistics activities. We also look at product margin on a per unit basis (product margin divided by volume). Product margin is a non-GAAP financial measure used by management and external users of our consolidated financial statements to assess our business. Product margin should not be considered an alternative to net income, operating income, cash flow from operations, or any other measure of financial performance presented in accordance with GAAP. In addition, our product margin may not be comparable to product margin or a similarly titled measure of other companies.
  • We define gross profit as our product margin minus terminal and gasoline station related depreciation expense allocated to cost of sales.

Content analysis

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