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Jun 30, 2025
Global Partners Q2 2025 Earnings Report
Global Partners reported its financial results for the second quarter ended June 30, 2025, showing a decrease in net income and adjusted EBITDA compared to the same period last year, despite an increase in total sales and volume.
Key Takeaways
Global Partners experienced a decline in profitability in the second quarter of 2025, with net income falling to $25.2 million from $46.1 million in Q2 2024, and adjusted EBITDA decreasing to $98.2 million from $121.1 million. However, the company saw an increase in total sales to $4.6 billion and total volume to 2.0 billion gallons, driven primarily by growth in the wholesale segment.
Net income for Q2 2025 was $25.2 million, a significant decrease from $46.1 million in Q2 2024.
Adjusted EBITDA for the quarter was $98.2 million, down from $121.1 million in the prior year.
Total sales increased to $4.6 billion in Q2 2025 from $4.4 billion in Q2 2024, primarily due to higher wholesale segment sales.
Total volume grew to 2.0 billion gallons in Q2 2025, up from 1.6 billion gallons in the same period last year.
Revenue by Segment
Forward Guidance
The company did not provide specific forward-looking financial guidance for future quarters or the full year in this report. However, the CEO's commentary highlighted solid year-over-year growth in earnings and cash flow for the first half of 2025, and the strategic acquisition of key terminals is expected to strengthen the foundation for long-term value.
Positive Outlook
- Solid year-over-year growth in earnings and cash flow for the first half of 2025.
- Effectiveness of the diversified asset base and disciplined execution.
- Pleased with the second-quarter performance of retail, terminal, and wholesale liquid energy portfolio.
- Strategic acquisition of key terminals expanded reach and enhanced market presence.
- Strengthened foundation for delivering long-term value to unitholders.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- Uncertainty around the timing of an economic recovery in the United States.
- Economic recovery will impact the demand for products sold and services provided.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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