Global Partners (GLP) Misses Q1 EPS by 12c

Global Partners (NYSE: GLP) reported Q1 EPS of $0.05, $0.12 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $2.6 billion versus the consensus estimate of $3.08 billion.

Business Outlook:

“While the near-term outlook remains uncertain, we believe that our diversified product portfolio and significant storage capacity provide operating and financial flexibility that will enable us to weather the current market challenges and capitalize on opportunities as market conditions improve,” Slifka said.

Given the uncertainty about the impact of COVID-19 on operations and demand, Global Partners is withdrawing its previously issued full-year 2020 EBITDA guidance, which was originally provided on March 6, 2020.

There is a continuing uncertainty surrounding the short and long-term impact of COVID-19 to the national and state economies. Any of those COVID-19 related events or conditions, or other unforeseen consequences of COVID-19 could significantly adversely affect our business and financial condition and the business and financial condition of our customers, suppliers and counterparties. The ultimate extent of the impact of COVID-19 on our business, financial condition and results of operations depends in large part on future developments which are uncertain and cannot be predicted at this time. That uncertainty includes the duration (including its potential return) of the COVID-19 pandemic, the geographic regions so impacted, the extent of said impact within specific boundaries of those areas and, lastly, the impact to the local, state and national economies.

For earnings history and earnings-related data on Global Partners (GLP) click here.

You May Also Be Interested In

• onsemi downgraded by TD Cowen after Synaptics deal clouds growth story
• American Outdoor Brands (AOUT) Tops Q4 EPS by 14c
• Qualcomm CFO: have an opportunity to scale our annual revenue to $100 billion