Stock Track | Global Partners LP Plummets 5.85% in Pre-Market on Q4 Earnings Disappointment

Stock Track
02-28

Shares of Global Partners LP (NYSE: GLP), a Fortune 500 integrated energy company, plummeted 5.85% in pre-market trading on Friday, February 28, 2025, following the release of the company's fourth-quarter and full-year 2024 financial results.

Global Partners reported a significant decline in its profitability metrics for the fourth quarter of 2024 compared to the same period in 2023. Net income fell to $23.9 million, or $0.52 per diluted common limited partner unit, from $55.3 million, or $1.41 per unit, in the prior-year quarter. The company's adjusted EBITDA also decreased to $97.8 million from $112.1 million in Q4 2023.

While Global Partners' revenue for the quarter was $4.2 billion, down slightly from $4.4 billion a year earlier, the company's gross profit and combined product margin both declined year-over-year. Gross profit was $268.8 million, compared to $280.4 million in Q4 2023, and combined product margin fell to $302.0 million from $305.7 million in the prior-year period.

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