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Financial Report Card and Business Updates at a Glance - Report on Global Partners LP


News provided by

www.aciassociation.com

Jul 30, 2015, 09:15 ET

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NEW YORK, July 30, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Global Partners LP (NYSE: GLP). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=GLP

Highlights from our GLP Report include:

  • First Quarter 2015 Financial Results - On May 7, 2015, Global Partners LP reported its Q1 2015 sales at $3.0 billion, vis-a-vis $5.1 billion in the prior year period. According to the Company, the decline was driven by primarily due to lower commodity prices. Net income attributable to Global Partners was $30.4 million, or $0.92 per diluted limited partner unit, compared with $57.0 million, or $2.03 per diluted limited partner unit, in Q1 2014.
  • Mixed results across Segments in Terms of Profitability Margins - Gross profit was $168.6 million, compared to $159.0 million in Q1 2014. Wholesale segment product margin (product sales minus product costs) was $80.1 million, versus $107.8 million in Q1 2014, this dip being due to favorable market opportunities in the gasoline blendstocks market in Q1 2014, which did not recur in Q1 2015. Product margin in the GDSO segment was $98.4 million, versus $53.1 million in Q1 2014, primarily due to the acquisition of Warren Equities along with favorable impact from declining gasoline prices. Commercial segment product margin was $11.6 million, compared to $12.3 million in Q1 2014. Combined product margin was $190.1 million, compared with $173.2 million in Q1 2014. EBITDA came in at $71.8 million, versus $86.5 million reported in Q1 2014. Distributable cash flow was $53.7 million, compared with $69.5 million in Q1 2014.
  • Recent Corporate and Business Updates - The release highlighted that Global has recently completed the acquisition of Warren Equities, Inc. from The Warren Alpert Foundation for c. $381 million. The Company noted that the acquisition increases its portfolio by 147 company-operated Xtra Mart convenience stores and related fuel operations, 53 commission agent locations and fuel supply rights for c. 320 dealers.
  • Guidance update & Upcoming Events - For FY 2015, the Company expects EBITDA in the range of $205 million to $225 million, which does not include the proposed acquisition of the Capitol Petroleum portfolio. Furthermore, Global Partners has scheduled to release its Q2 2015 financial results before the market opens on Thursday, August 6, 2015.  In conjugation with the earnings release, the Company will also host a conference call the same day at 10:00 a.m. ET.

To find out how this influences our rating on Global Partners LP, read the full report in its entirely here: http://www.aciassociation.com/?c=GLP

About ACI Association: 

Active Charter Investors Association ("ACI Association") produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. ACI Association has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

ACI Association has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:  

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer"). Rohit Tuli, a CFA® charter holder (the "CFA®"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on sound investment judgment and publicly available information which is believed to be reliable. The Reviewer and the CFA® have not performed any independent investigations or forensic audits to validate the information herein. Unless otherwise noted, any content outside of this document has no association with the Author, the Reviewer, or the CFA® (collectively referred to as the "Production Team") in any way. The Production Team is compensated on a fixed monthly basis and do not hold any positions of interest in any of the securities mentioned herein.

NO WARRANTY 

ACI Association, the Author, the Reviewer and the CFA® (collectively referred to as the "Publishers") are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, the Publishers do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING 

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither ACI Association nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.aciassociation.com/.

RESTRICTIONS 

ACI Association is not available to residents of Belarus, Cuba, Canada, Iran, North Korea, Sudan, Syria or Somalia. Do not send email to robottrap (at) aciassociation.com.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE www.aciassociation.com

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