Global Partners Q3 net income $26.8M ($0.60/unit), down 76%; acquires 25 terminals from Motiva for $305.8M

GLOBAL PARTNERS LP

Net income of $26.8M ($0.60 diluted EPS) vs $111.4M ($3.12) in Q3 2022; adjusted EBITDA $77.7M vs $168.5M.
Gross profit $228.5M vs $328.4M; distributable cash flow $42.2M vs $128.0M.
Signed agreement to acquire 25 liquid energy terminals (8.4M bbl capacity) from Motiva for $305.8M cash.
Acquisition includes 25-year take-or-pay throughput agreement; expected close by year-end pending regulatory approvals.
CEO Eric Slifka says Q3 results in line with expectations in a more normalized market.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GLOBAL PARTNERS LP reported third quarter ended September 30, 2023 results: net income $26.8 million, EPS $0.60 per diluted common limited partner unit.

Period: third quarter ended September 30, 2023
Net income: $26.8 million
EPS: $0.60 per diluted common limited partner unit
Result: reported results

Exact text from the filing

Net income was $26.8 million, or $0.60 per diluted common limited partner unit, for the third quarter of 2023, compared with net income of $111.4 million, or $3.12 per diluted common limited partner unit, in 2022.

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GLOBAL PARTNERS LP filing history →

Source: SEC EDGAR

accession 0001157523-23-001699

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