Global Partners LP reported its financial results for the third quarter of 2025, revealing a total revenue of $4.7 billion, a 6% increase from $4.4 billion in the same period last year. The increase was primarily driven by a rise in the volume of products sold, which reached 1.9 billion gallons, up from 1.7 billion gallons in the prior year. However, the company experienced a decrease in gross profit, which fell to $271.4 million from $286.0 million year-over-year, reflecting a decline in fuel margins in its Gasoline Distribution and Station Operations (GDSO) segment.
For the nine months ending September 30, 2025, Global Partners LP reported total sales of $13.9 billion, a 7% increase from $12.9 billion in the same period of 2024. The company attributed this growth to a significant increase in product volume sold, which rose to 5.9 billion gallons from 4.9 billion gallons. The Wholesale segment contributed notably to this growth, bolstered by the acquisition of four refined-product terminals from Gulf Oil Limited Partnership in April 2024 and a liquid energy terminal from ExxonMobil in November 2024.
Operationally, the company’s GDSO segment saw a decrease in gasoline distribution sales, which fell to $1.1 billion from $1.2 billion year-over-year, primarily due to lower prices and volume sold. Conversely, the Wholesale segment's sales of gasoline and gasoline blendstocks increased to $2.1 billion, up from $1.8 billion, driven by favorable market conditions. The company also reported a decrease in its product margin from distillates and other oils, which fell to $16.5 million from $28.1 million, attributed to less favorable market conditions in residual oil.
In terms of strategic developments, Global Partners LP completed a significant refinancing effort, issuing $450 million in senior notes due 2033 and redeeming its 2027 notes. This move is expected to enhance the company’s liquidity and financial flexibility. The company also amended its credit agreement, extending the maturity date to March 2028 and increasing its working capital revolving credit facility to $1 billion. Looking ahead, Global Partners LP anticipates continued challenges from fluctuating commodity prices and market conditions but remains focused on leveraging its operational strengths and strategic acquisitions to drive future growth.
About GLOBAL PARTNERS LP
Global Partners LP is a master limited partnership engaged in the logistics, distribution, and sale of refined petroleum products, renewable fuels, and crude oil. It operates a large network of terminals, owns and supplies gasoline stations and convenience stores primarily in the U.S. Northeast, and provides transportation via rail, pipeline, truck, and marine assets. The company focuses on energy supply, distribution, and retail services with a competitive edge in logistics and strategic assets.
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