Global Partners LP (NYSE:GLP) is reporting third quarter financial results on Thursday 5th November 2020, before market open.
According to analysts surveyed by Thomson Reuters, GLP is expected to report 3Q20 income of $ 0.11 per share from revenue of $ 3022.87 million.
For the full year, analysts anticipate top line of $ 10489.80 million, while looking forward to income of $ 2.30 per share bottom line.
Previous Quarter Performance
Global Partners LP reported income for the second quarter of $ 2.21 per share, from the revenue of $ 1,470.00 million. The quarterly earnings elevated 513.89 percent while revenues shrunk 58.10 percent compared with the same quarter last year.
Street analysts expected Global Partners LP to report loss of $ 0.79 per share on revenue of $ 2548.77 million for the second quarter. The bottom line results beat street analysts by $ 3 or 379.75 percent, at the same time, top line results fell short of analysts by $ 1 million or 42.33 percent.
Stock Performance
Shares of Global Partners LP traded up $ 0.67 or 4.43 percent on Wednesday, reaching $ 15.78 with volume of 135.30 thousand shares. Global Partners LP has traded high as $ 15.91 and has cracked $ 15.06 on the downward trend
The closing price of $ 15.78, representing a 139.84 % increase from the 52 week low of $ 6.30 and a 27.11 % decrease over the 52 week high of $ 20.73.
The company has a market capital of $ 536.45 million and is part of the Energy sector and Oil & Gas Midstream industry.
Recent Stock Dividend Announcement
On August 6, 2020, the board of directors authorized quarterly dividend of $ 0.4587 per share to holders of record as of the close of business on August 10, 2020, with payment date of August 14, 2020 and ex-dividend date on August 7, 2020.
Conference Call
Global Partners LP will be hosting a conference call at 10:00 AM eastern time on 5th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.globalp.com
Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers in the New England states and New York. The company is also involved in the transportation of petroleum products and renewable fuels through rail from the mid-continent region of the United States and Canada. Its Wholesale segment sells home heating oil, branded and unbranded gasoline and gasoline blendstocks, diesel, kerosene, residual oil, and propane to home heating oil and propane retailers, and wholesale distributors.
