GLP 8-K SEC Filing Analysis

Latest settled — T+20d

GLP-PB ▲ +0.49% at T+20d

LONG call ✓ call won +0.49% · α vs SPY +0.46% · entry $25.39 → $25.51

Next anchor: T+60d in 7w

Currently $47.13 · +85.65% from $25.39 entry

Entry anchored
May 8, 2026
via day open

T+1d

-0.26%

call -0.26% · α -0.49%

$25.32

settled 5w ago

T+5d

-0.03%

call -0.03% · α -1.49%

$25.38

settled 29d ago

T+20d

+0.49%

call +0.49% · α +0.46%

$25.51

settled 5d ago

T+60d

—

call — · α —

—

in 7w

Price Chart

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Executive Summary

Global Partners LP reported Q1 2026 net income of $70.1M ($1.85/diluted unit), a massive increase from $18.7M ($0.36/diluted unit) in Q1 2025, driven by strong performance across all segments, particularly Wholesale where product margin surged 65% to $154.1M. Total sales rose 15.9% to $5.32B, and Adjusted EBITDA jumped 54% to $140.4M, reflecting the benefits of the company's integrated platform and favorable market conditions.

Key Financial Metrics

Free Cash Flow

-$114.7M

Gross Margin

6.24%

Actionable Insight

The massive earnings beat and strong cash flow generation support the increased distribution, making GLP units attractive for income-focused investors. Monitor the Q2 2026 earnings for sustainability of wholesale margin strength and any impact from potential changes in fuel demand or regulatory environment.

Key Facts

Net income of $70.1M vs $18.7M YoY, a 275% increase
Diluted EPS of $1.85 vs $0.36 YoY, a 414% increase
Total sales of $5.32B vs $4.59B YoY, up 15.9%
Adjusted EBITDA of $140.4M vs $91.3M YoY, up 53.8%
Wholesale segment product margin $154.1M vs $93.6M YoY, up 64.6%
GDSO segment product margin $199.3M vs $187.9M YoY, up 6.1%
Adjusted DCF of $96.8M vs $46.5M YoY, more than doubled
Quarterly distribution increased to $0.7650 per unit ($3.06 annualized)

Financial Impact

Net income surged $51.4M YoY; Adjusted EBITDA up $49.1M; Adjusted DCF more than doubled to $96.8M

net incomeepsrevenueebitdadistributable cash flowproduct margin

Risk Factors

Wholesale segment margins are sensitive to market conditions and could revert
Total debt of $1.75B (working capital + revolver + senior notes) remains elevated
Working capital revolver drawn $308.3M, up significantly from $126.1M at year-end 2025

Market Snapshot

Exchange

NYSE

Sector

Wholesale-Petroleum Bulk Stations & Terminals

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001104659-26-057571
Document: tm2613603d1_8k.htm	0001104659-26-057571
Document: 0001104659-26-057571-index-headers.html	0001104659-26-057571
Document: 0001104659-26-057571-index.html	0001104659-26-057571
Document: 0001104659-26-057571.txt	0001104659-26-057571
8-K Data (Synthetic)	0001104659-26-057571

5 reports for GLP

T+1T+5T+20T+60

Filters

Reports for GLP — sortable, filterable
	Type				Now
Jun 11, 2026 1d ago	Insider Buy BULLISH ★ 6/10	$49.33 awaiting T+20	awaiting T+20	—	$47.13 (−4.45%)
Jun 8, 2026 4d ago	Insider Buy BULLISH ★ 6/10	$48.72 awaiting T+20	awaiting T+20	—	$47.13 (−3.26%)
May 8, 2026 5w ago	8-K BULLISH ★ 7/10	$25.39 $25.51	▲ +0.49%	▲ +0.46%	$47.13 (+85.65%)
Apr 30, 2026 6w ago	8-K NEUTRAL ★ 2/10	$25.31 $25.39	▲ +0.31%	▼ −4.66%	$47.13 (+86.20%)
Apr 13, 2026 8w ago	8-K NEUTRAL ★ 3/10	$24.96 $25.32	▲ +1.44%	▼ −6.28%	$47.13 (+88.83%)

US Market Status

Market Closed — Opens Mon (47h 37m)

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