Global Partners Q2 Earnings Miss Estimates, Executes Strategic Priorities To Boost Competitive Position
Portfolio Pulse from Nabaparna Bhattacharya
Global Partners LP (GLP) reported Q2 2023 sales of $3.832 billion, missing the consensus of $4.09 billion. EPS of $1.05 also missed the consensus of $1.28. Adjusted EBITDA and product margin decreased compared to a year ago. The company exited the quarter with cash and equivalents worth $11.04 million. GLP shares are trading lower by 2.28% to $33.07.
August 04, 2023 | 4:14 pm
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NEGATIVE IMPACT
Global Partners LP's Q2 2023 sales and EPS missed estimates, leading to a decrease in stock price.
Global Partners LP reported lower than expected sales and EPS for Q2 2023. This negative financial performance is likely to negatively impact investor sentiment, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100