GLOBAL PARTNERS LP
For the period ended May 8, 2026. Filed May 8, 2026.
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May 8, 2026 · Filed May 8, 2026
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Contents
EX-99.1 · (In thousands, except per unit data)
(In thousands, except per unit data)
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2026 | 2025 | |
| Sales | $5,321,800 | $4,592,197 |
| Cost of sales | 4,989,633 | 4,336,956 |
| Gross profit | 332,167 | 255,241 |
| Costs and operating expenses: | ||
| Selling, general and administrative expenses | 99,350 | 73,717 |
| Operating expenses | 129,234 | 126,715 |
| Amortization expense | 1,270 | 1,412 |
| Net gain on sale and disposition of assets | (3,426) | (2,490) |
| Total costs and operating expenses | 226,428 | 199,354 |
| Operating income | 105,739 | 55,887 |
| Other income (expense): | ||
| Income from equity method investments | 739 | 66 |
| Interest expense | (35,503) | (36,039) |
| Income before income tax expense | 70,975 | 19,914 |
| Income tax expense | (839) | (1,230) |
| Net income | 70,136 | 18,684 |
| Less: General partner's interest in net income, including incentive distribution rights | 5,393 | 4,412 |
| Less: Preferred limited partner interest in net income | 1,781 | 1,781 |
| Net income attributable to common limited partners | $62,962 | $12,491 |
| Basic net income per common limited partner unit (1) | $1.86 | $0.37 |
| Diluted net income per common limited partner unit (1) | $1.85 | $0.36 |
| Basic weighted average common limited partner units outstanding | 33,888 | 33,887 |
| Diluted weighted average common limited partner units outstanding | 34,048 | 34,299 |
(1) Under the Partnership's partnership agreement, for any quarterly period, the incentive distribution rights ("IDRs") participate in net income only to the extent of the amount of cash distributions actually declared, thereby excluding the IDRs from participating in the Partnership's undistributed net income or losses. Accordingly, the Partnership's undistributed net income or losses is assumed to be allocated to the common unitholders and to the General Partner's general partner interest. Net income attributable to common limited partners is divided by the weighted average common units outstanding in computing the net income per limited partner unit.
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