Global Partners grew total revenue to $4.7 billion in Q3 2025, driven by its Wholesale segment, though net income and gross margin declined due to weaker performance in GDSO and Commercial segments.
Net income fell to $29.0 million from $45.9 million in Q3 2024
Adjusted EBITDA dropped to $98.8 million from $114.0 million
Total revenue rose to $4.7 billion, led by growth in the Wholesale segment
Combined product margin declined to $303.9 million from $318.4 million
Management reaffirmed its focus on optimizing its terminal network and maintaining operational discipline, expressing confidence in long-term growth despite current margin pressure.
Visualization of income flow from segment revenue to net income
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