Global Partners reports Q3 EPS $3.12 vs. 86c last year

Reports Q3 revenue $4.6B vs. $3.3B last year. Volume was 1.3 billion gallons in each of the third quarters of 2022 and 2021. "We delivered strong third-quarter results, driven by growth across all three segments of our business," said Eric Slifka, the Partnership’s President and CEO. "Our Gasoline Distribution and Station Operations segment continued to perform well in the third quarter, reflecting increased activity at our convenience stores as a result of our recent acquisitions and higher retail fuel margins year-over-year. In our Wholesale segment, we continued to effectively manage our fuel inventory amid sustained backwardation in the gasoline and distillates markets. Our Commercial segment saw a year-over-year increase in bunkering activity. During the third quarter we expanded our GDSO footprint in the mid-Atlantic with the acquisition of Tidewater Convenience, a transaction that included 15 retail fuel and convenience store locations in Virginia. At the end of the quarter, our GDSO portfolio totaled 1,684 sites, including 356 company-operated locations. Our portfolio of company-operated locations has grown more than 20 percent year over year. The M&A pipeline remains very active across all areas of our business, and we continue to evaluate potential opportunities that align with our strategic growth objectives."