GLP

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EXHIBIT 99.1

FOR

IMMEDIATE RELEASE

Contacts:

Gregory B. Hanson Kristin K. Seabrook

Chief Financial Officer Chief Legal Officer and Secretary

Global Partners LP Global Partners LP

(781) 894-8800 (781) 894-8800

Global Partners LP Reports Second-Quarter 2026 Financial Results

Newton, Mass., August 7, 2026 – Global Partners LP (NYSE: GLP) today reported financial results for the second quarter ended June 30, 2026.

CEO Commentary

“The second quarter was marked by strong contributions in all of our segments, with our business executing well in a dynamic market environment,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “The breadth of our liquid energy platform enables us to create and capture value across market conditions, as reflected in our performance this quarter.

Looking ahead, we remain committed to pursuing growth where it creates durable value, deploying capital with discipline and managing the business for the long term,” Slifka said. “The quality of our assets and the strength of our balance sheet provide flexibility and position us to deliver attractive returns for our unitholders.”

Second-Quarter

2026 Financial Highlights

Net income in the second quarter of 2026 was $71.0 million, or $1.86 per diluted common limited partner unit, compared with net income of $25.2 million, or $0.55 per diluted common limited partner unit, in the same period of 2025.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $146.0 million in the second quarter of 2026 compared with $95.7 million in the same period of 2025.

Adjusted EBITDA was $148.2 million in the second quarter of 2026 versus $98.2 million in the same period of 2025.

Distributable cash flow (DCF) was $92.6 million in the second quarter of 2026 compared with $52.0 million in the same period of 2025.

Adjusted DCF was $92.5 million in the second quarter of 2026 compared with $52.3 million in the same period of 2025.

EBITDA,

adjusted EBITDA, DCF and adjusted DCF for the second quarter of 2025 included a loss on early extinguishment of debt of $2.8 million related to the 2025 redemption of the Partnership’s 7.00% senior notes due 2027.

Gross profit in the second quarter of 2026 was $328.9 million compared with $272.4 million in the same period of 2025.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $362.2 million in the second quarter of 2026 compared with $305.7 million in the same period of 2025.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three and six months ended June 30, 2026, and 2025.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $245.2 million in the second quarter of 2026 compared with $207.9 million in the same period of 2025. Product margin from gasoline distribution increased to $175.0 million from $137.9 million in the year-earlier period, primarily due to higher fuel margins (cents per gallon). Product margin from station operations was $70.2 million compared with $70.0 million in the second quarter of 2025.

Wholesale segment product margin was $106.5 million in the second quarter of 2026 compared with $91.7 million in the same period of 2025. Gasoline and

gasoline blendstocks product margin increased to $78.4 million from $58.8 million in the same period of 2025, primarily reflecting more favorable market conditions in gasoline. Product margin from distillates and other oils decreased to $28.1 million in the second quarter of 2026 from $32.9 million in the same period of 2025, primarily due to less favorable market conditions in residual oil.

Commercial segment product margin increased to $10.5 million in the second quarter of 2026 from $6.1 million in the same period of 2025, primarily reflecting more favorable market conditions in bunkering.

Total sales were $6.8 billion in the second quarter of 2026 compared with $4.6 billion in the same period of 2025. Wholesale segment sales were $4.9 billion in the second quarter of 2026 compared with $3.1 billion in the same period of 2025. GDSO segment sales were $1.5 billion in the second quarter of 2026 compared with $1.2 billion in the same period of 2025. Commercial segment sales were $370.2 million in the second quarter of 2026 compared with $275.8 million in the same period of 2025.

Total volume was 2.0 billion gallons in the second quarters of 2026 and 2025. Wholesale segment volume was 1.5 billion gallons in the second quarters of 2026 and 2025. GDSO volume was 351.2 million gallons in the second quarter of 2026 compa

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EXHIBIT 99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts:

Gregory B. Hanson Kristin K. Seabrook

Chief Financial Officer Chief Legal Officer and Secretary

Global Partners LP Global Partners LP

(781) 894-8800 (781) 894-8800

Global Partners LP Reports First-Quarter 2026

Financial Results

Waltham, Mass., May 8, 2026 – Global Partners LP (NYSE: GLP) today reported financial results for the first quarter ended March 31, 2026.

CEO Commentary

“Solid execution across all operating segments drove strong first-quarter results for Global,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “Performance this quarter reflects the advantages of our integrated platform in a dynamic market environment.

“Our strategy is built to adapt to changing market conditions, optimize our assets and focus on maximizing returns,” Slifka said. “That disciplined approach continues to guide how we run the business and deliver value for our unitholders.”

First-Quarter 2026 Financial Highlights

Net income in the first quarter of 2026 was $70.1 million, or $1.85 per diluted common limited partner unit, compared with net income of $18.7 million, or $0.36 per diluted common limited partner unit, in the same period of 2025.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $142.1 million in the first quarter of 2026 compared with $91.9 million in the same period of 2025.

Adjusted EBITDA was $140.4 million in the first quarter of 2026 versus $91.3 million in the same period of 2025.

Distributable cash flow (DCF) was $96.4 million in the first quarter of 2026 compared with $45.7 million in the same period of 2025.

Adjusted DCF was $96.8 million in the first quarter of 2026 compared with $46.5 million in the same period of 2025.

Gross profit in the first quarter of 2026 was $332.2 million compared with $255.2 million in the same period of 2025.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $365.1 million in the first quarter of 2026 compared with $288.6 million in the same period of 2025.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months ended March 31, 2026, and 2025.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $199.3 million in the first quarter of 2026 compared with $187.9 million in the same period of 2025. Product margin from gasoline distribution increased to $136.7 million from $125.8 million in the year-earlier period, primarily due to higher fuel margins (cents per gallon). Product margin from station operations was $62.6 million compared with $62.1 million in the first quarter of 2025, due in part to an increase in sundries.

Wholesale segment product margin was $154.1 million in the first quarter of 2026 compared with $93.6 million in the same period of 2025. Gasoline and gasoline blendstocks product margin was $101.2 million compared with $57.1 million in the same period of 2025, primarily due to more favorable market conditions, largely in gasoline. Product margin from distillates and other oils was $52.9 million in the first quarter of 2026 compared with $36.5 million in the same period of 2025, primarily due to more favorable market conditions, largely in residual oil.

Commercial segment product margin was $11.7 million in the first quarter of 2026 compared with $7.1 million in the same period of 2025, in part due to more favorable market conditions.

Total sales were $5.3 billion in the first quarter of 2026 compared with $4.6 billion in the same period of 2025. Wholesale segment sales were $3.8 billion in the first quarter of 2026 compared with $3.2 billion in the same period of 2025. GDSO segment sales were $1.1 billion in the first quarters of 2026 and 2025. Commercial segment sales were $367.4 million in the first quarter of 2026 compared with $275.1 million in the same period of 2025.

Total volume was 2.1 billion gallons in the first quarter of 2026 compared with 1.9 billion gallons in the same period of 2025. Wholesale segment volume was 1.6 billion gallons in the first quarter of 2026 compared with 1.4 billion gallons in the same period of 2025. GDSO volume was 331.9 million gallons in the first quarter of 2026 compared with 357.6 million gallons in the same period of 2025. Commercial segment volume was 166.8 million gallons in the first quarter of 2026 compared with 124.8 million gallons in the same period of 2025.

Recent Developments

·Global Partners announced a cash distribution of $0.7650 per unit ($3.06 per unit on an annualized basis)

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EXHIBIT 99.1

Exhibit 99.1

Contacts:

Gregory B. Hanson

Kristin K. Seabrook

Chief Financial Officer

Chief Legal Officer and Secretary

Global Partners LP

Global Partners LP

(781) 894-8800

(781) 894-8800

Global Partners Reports Fourth-Quarter and Full-Year 2025

Financial Results

Waltham, Mass., February 27, 2026 – Global Partners LP (NYSE: GLP) (“Global Partners” or the “Partnership”) today reported financial results for the fourth quarter and full year ended December 31, 2025.

CEO Commentary

“We closed 2025 with a fourth quarter that reflected the strength and resilience of our integrated platform,” said Eric Slifka, President and Chief Executive Officer. “Built and refined over more than 90 years, our diversified business model and broad network provide a durable competitive advantage, positioning us to navigate market cycles and adapt to dynamic market conditions while meeting the needs of the markets, customers and communities we serve.

“The flexibility of our business model was reflected in the strong fourth-quarter performance of our Gasoline Distribution and Station Operations segment, which helped to offset less favorable market conditions in our Wholesale segment,” Slifka said. “As an owner, supplier, and operator of liquid energy terminals and retail fueling locations, our scale enables us to capture opportunities across the value chain, helping to balance segment variability and support consistent results over time.”

Slifka concluded, “Backed by a strong balance sheet and healthy cash flow generation, we enter 2026 focused on disciplined execution and continued investment in our diversified portfolio to enhance long-term value for our unitholders.”

Fourth-Quarter

and Full-Year 2025 Financial Highlights

Net income was $25.1 million, or $0.54 per diluted common limited partner unit, for the fourth quarter of 2025, compared with net income of $23.9 million, or $0.52 per diluted common limited partner unit, in the same period of 2024. Net income was $98.0 million, or $2.11 per diluted common limited partner unit, for full-year 2025 compared with net income of $110.3 million, or $2.41 per diluted common limited partner unit, for full-year 2024.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $94.1 million in the fourth quarter of 2025 compared with $94.6 million in the same period of 2024. EBITDA was $378.8 million for full-year 2025 compared with $389.4 million for full-year 2024.

Adjusted EBITDA was $94.8 million in the fourth quarter of 2025 versus $97.8 million in the same period of 2024. Adjusted EBITDA was $383.0 million for full-year 2025 versus $389.1 million for full-year 2024.

Distributable cash flow (DCF) was $38.4 million in the fourth quarter of 2025 compared with $45.7 million in the same period of 2024. DCF was $189.1 million for full-year 2025 compared with $205.8 million for full-year 2024.

Adjusted DCF was $38.8 million in the fourth quarter of 2025 compared with $46.1 million in the same period of 2024. Adjusted DCF was $190.9 million for full-year 2025 compared with $208.2 million for full-year 2024.

Gross profit was $263.1 million in the fourth quarter of 2025 compared with $268.8 million in the same period of 2024. Gross profit was $1.1 billion for full-year 2025 and 2024.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $295.7 million in the fourth quarter of 2025 compared with $302.0 million in the same period of 2024. Combined product margin was $1.2 billion for full-year 2025 and 2024.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months and 12 months ended December 31, 2025, and 2024.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $231.3 million in the fourth quarter of 2025 compared with $213.6 million in the same period of 2024. Product margin from gasoline distribution was $165.6 million compared with $145.7 million in the year-earlier period, primarily reflecting higher fuel margins (cents per gallon). Product margin from station operations was $65.7 million in the fourth quarter of 2025 compared with $67.9 million in the fourth quarter of 2024.

Wholesale segment product margin was $58.3 million in the fourth quarter of 2025 compared with $79.8 million in the same period of 2024. Gasoline and gasoline blendstocks product margin decreased to $28.1 million in the fourth quarter of 2025 from $38.6 million in the same period of 2024, driven primarily by less favorable market conditions in gasoline. Product margin from disti

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EXHIBIT 99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts:

Gregory B. Hanson Sean T. Geary

Chief Financial Officer Chief Legal Officer and Secretary

Global Partners LP Global Partners LP

(781) 894-8800 (781) 894-8800

Global Partners Reports Third-Quarter 2025 Financial Results

Waltham, Mass., November 7, 2025 – Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the third quarter ended September 30, 2025.

CEO Commentary

“Global performed well in the third quarter, consistent with our expectations, reflecting our operational strength, focused execution, and the disciplined way we continue to grow and optimize our business,” said Eric Slifka, Global Partners’ President and Chief Executive Officer. “We delivered a strong performance in our Wholesale segment, fueled by the continued growth and scale of our terminal network, an investment that’s enhancing how we move energy and products across our footprint. While our Gasoline Distribution and Station Operations segment experienced lower fuel margins compared with the strong margin environment in Q3 2024, our focus remains clear: operate with discipline, invest wisely, and keep optimizing our assets to drive sustainable growth and long-term value for our unitholders. We’re proud of the progress we’ve made and confident in the opportunities ahead as we continue to put our energy to work across every part of our business.”

Third-Quarter 2025 Financial Highlights

Net income was $29.0 million, or $0.66 per diluted common limited partner unit, for the third quarter of 2025, compared with $45.9 million, or $1.17 per diluted common limited partner unit, in the same period of 2024.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $97.1 million in the third quarter of 2025 compared with $119.1 million in the same period of 2024.

Adjusted EBITDA was $98.8 million in the third quarter of 2025 versus $114.0 million in the same period of 2024.

Distributable cash flow (DCF) was $53.0 million in the third quarter of 2025 compared with $71.1 million in the same period of 2024.

Adjusted DCF was $53.3 million in the third quarter of 2025 compared with $71.6 million in the same period of 2024.

Gross profit was $271.4 million in the third quarter of 2025 compared with $286.0 million in the same period of 2024.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $303.9 million in the third quarter of 2025 compared with $318.3 million in the same period of 2024.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months and nine months ended September 30, 2025, and 2024.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $218.9 million in the third quarter of 2025 compared with $237.7 million in the same period of 2024. Product margin from gasoline distribution was $144.8 million compared with $164.1 million in the year-earlier period, reflecting lower retail fuel volume and margin. Product margin from station operations was $74.1 million in the third quarter of 2025 compared with $73.6 million in the third quarter of 2024.

Wholesale segment product margin was $78.0 million in the third quarter of 2025 compared with $71.1 million in the same period of 2024. Gasoline and gasoline blendstocks product margin was $61.5 million in the third quarter of 2025 compared with $43.0 million in the same period of 2024. Product margin from distillates and other oils was $16.5 million in the third quarter of 2025 compared with $28.1 million in the same period of 2024.

Commercial segment product margin was $7.0 million in the third quarter of 2025 compared with $9.5 million in the same period of 2024.

Total sales were $4.7 billion in the third quarter of 2025 compared with $4.4 billion in the same period of 2024. Wholesale segment sales were $3.1 billion in the third quarter of 2025 compared with $2.7 billion in the same period of 2024. GDSO segment sales were $1.3 billion in the third quarter of 2025 compared with $1.4 billion in the same period of 2024. Commercial segment sales were $297.8 million in the third quarter of 2025 compared with $277.1 million in the third quarter of 2024.

Total volume was 1.9 billion gallons in the third quarter of 2025 compared with 1.7 billion gallons in the same period of 2024. Wholesale segment volume was 1.4 billion gallons in the third quarter of 2025 compared with 1.2 billion gallons in the same period of 2024. GDSO volume was 390.8 million gallons in the third quarter of 2025

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EXHIBIT 99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts:

Gregory B. Hanson Sean T. Geary

Chief Financial Officer Chief Legal Officer and Secretary

Global Partners LP Global Partners LP

(781) 894-8800 (781) 894-8800

Global Partners Reports Second-Quarter 2025 Financial Results

Waltham, Mass., August 7, 2025 – Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the second quarter ended June 30, 2025.

CEO Commentary

“For the first half of 2025, we delivered solid year-over-year growth in earnings and cash flow, highlighting the effectiveness of our diversified asset base and disciplined execution. For the first six months of 2025, year-over-year net income increased by 8%, adjusted EBITDA increased by 7% and adjusted DCF increased by 9%,” said Eric Slifka, President and CEO of Global Partners. “We are pleased with the second-quarter performance of our retail, terminal, and wholesale liquid energy portfolio. The strategic acquisition of key terminals has expanded our reach, enhanced our market presence, and strengthened our foundation for delivering long-term value to unitholders.”

Second-Quarter 2025 Financial Highlights

Net income was $25.2 million, or $0.55 per diluted common limited partner unit, for the second quarter of 2025, compared with $46.1 million, or $1.10 per diluted common limited partner unit, in the same period of 2024.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $95.7 million in the second quarter of 2025 compared with $118.8 million in the same period of 2024.

Adjusted EBITDA was $98.2 million in the second quarter of 2025 versus $121.1 million in the same period of 2024.

Distributable cash flow (DCF) was $52.0 million in the second quarter of 2025 compared with $73.1 million in the same period of 2024.

Adjusted DCF was $52.3 million in the second quarter of 2025 compared with $74.2 million in the same period of 2024.

EBITDA, adjusted EBITDA, DCF and adjusted DCF include a loss on early extinguishment of debt of $2.8 million for the three months ended June 30, 2025 related to the redemption of the Partnership’s 7.00% senior notes due 2027.

Gross profit was $272.4 million in the second quarter of 2025 compared with $287.9 million in the same period of 2024.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $305.7 million in the second quarter of 2025 compared with $319.6 million in the same period of 2024.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months and six months ended June 30, 2025, and 2024.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $207.9 million in the second quarter of 2025 compared with $221.5 million in the same period of 2024. Product margin from gasoline distribution was $137.9 million compared with $147.3 million in the year-earlier period, reflecting lower fuel volume due in part to decreased site count year-over-year. Product margin from station operations was $70.0 million in the second quarter of 2025 compared with $74.2 million in the second quarter of 2024, also due in part to decreased site count.

Wholesale segment product margin was $91.7 million in the second quarter of 2025 compared with $91.9 million in the same period of 2024. Gasoline and gasoline blendstocks product margin was $58.8 million in the second quarter of 2025 compared with $70.4 million in the same period of 2024. Product margin from distillates and other oils was $32.9 million in the second quarter of 2025 compared with $21.5 million in the same period of 2024.

Commercial segment product margin was $6.1 million in the second quarter of 2025 compared with $6.2 million in the same period of 2024.

Total sales were $4.6 billion in the second quarter of 2025 compared with $4.4 billion in the same period of 2024. Wholesale segment sales were $3.1 billion in the second quarter of 2025 compared with $2.6 billion in the same period of 2024. GDSO segment sales were $1.2 billion in the second quarter of 2025 compared with $1.5 billion in the same period of 2024. Commercial segment sales were $275.8 million in the second quarter of 2025 compared with $280.9 million in the second quarter of 2024.

Total volume was 2.0 billion gallons in the second quarter of 2025 compared with 1.6 billion gallons in the same period of 2024. Wholesale segment volume was 1.5 billion gallons in the second quarter of 2025 compared with 1.1 billion gallons in the same period of 2024. GDSO volume was 382.4 million gallons in

EX-99.1

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EXHIBIT 99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts:

Gregory B. Hanson Sean T. Geary

Chief Financial Officer Chief Legal Officer and Secretary

Global Partners LP Global Partners LP

(781) 894-8800 (781) 894-8800

Global Partners LP Reports First-Quarter 2025

Financial Results

Waltham, Mass., May 8, 2025 – Global Partners LP (NYSE: GLP) today reported financial results for the first quarter ended March 31, 2025.

CEO Commentary

“Global delivered solid first-quarter results, highlighting the strength of our integrated assets and the creativity of our team,” said Eric Slifka, President and CEO of Global Partners. “Our diversified portfolio of terminals, retail assets, and supply capabilities continues to demonstrate its value, particularly during periods of market volatility and regulatory uncertainty.”

“Our Wholesale segment performed well, driven by the successful integration of additional terminal assets, strong execution across the team, and a favorable market backdrop. Our Gasoline Distribution business also benefited from healthy fuel margins, further strengthening our performance.”

“At Global, the power of our scale, the resiliency of our integrated model, and the ingenuity of our people position us to not just weather disruption—but to find opportunity within it,” Slifka said. “We remain focused on delivering long-term growth through disciplined execution, operational excellence, and the strong foundation built over decades of partnership and service.”

First-Quarter 2025 Financial Highlights

Net income in the first quarter of 2025 was $18.7 million, or $0.36 per diluted common limited partner unit, compared with a net loss of $5.6 million, or $0.37 per common limited partner unit, in the same period of 2024.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $91.9 million in the first quarter of 2025 compared with $56.9 million in the same period of 2024.

Adjusted EBITDA was $91.1 million in the first quarter of 2025 versus $56.0 million in the same period of 2024.

Distributable cash flow (DCF) was $45.7 million in the first quarter of 2025 compared with $15.8 million in the same period of 2024.

Adjusted DCF was $46.4 million in the first quarter of 2025 compared with $16.0 million in the same period of 2024.

Gross profit in the first quarter of 2025 was $255.2 million compared with $215.1 million in the same period of 2024.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $288.6 million in the first quarter of 2025 compared with $244.1 million in the same period of 2024.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months ended March 31, 2025, and 2024.

GDSO

segment product margin was $187.9 million in the first quarter of 2025 compared with $187.7 million in the same period of 2024. Product margin from gasoline distribution increased to $125.8 million from $121.6 million in the year-earlier period, primarily due to higher fuel margins (cents per gallon). Product margin from station operations decreased to $62.1 million from $66.1 million in the first quarter of 2024, due in part to the sales and conversions of certain company-operated sites and to a decrease in sundries.

Wholesale segment product margin was $93.6 million in the first quarter of 2025 compared with $49.4 million in the same period of 2024. Gasoline and gasoline blendstocks product margin was $57.1 million compared with $29.7 million in the same period of 2024, primarily due to more favorable market conditions, largely in gasoline, and to the addition of terminal assets acquired in 2024. Product margin from distillates and other oils was $36.5 million in the first quarter of 2025 compared with $19.7 million in the same period of 2024, primarily due to more favorable market conditions in distillates.

Commercial segment product margin was $7.1 million in the first quarter of 2025 compared with $7.0 million in the same period of 2024, in part due to more favorable market conditions.

Total sales were $4.6 billion in the first quarter of 2025 compared with $4.1 billion in the same period of 2024. Wholesale segment sales were $3.2 billion in the first quarter of 2025 compared with $2.6 billion in the same period of 2024. GDSO segment sales were $1.1 billion in the first quarter of 2025 versus $1.2 billion in the same period of 2024. Commercial segment sales were $275.1 million in the first quarter of 2025 compared with $278.6 million in the same period of 2024.

Total volume was 1.9 billion gallons in the first quarter

EX-99.1

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EXHIBIT 99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts:

Gregory B. Hanson Sean T. Geary

Chief Financial Officer Chief Legal Officer and Secretary

Global Partners LP Global Partners LP

(781) 894-8800 (781) 894-8800

Global Partners Reports Fourth-Quarter and Full-Year 2024 Financial Results

Waltham, Mass., February 28, 2025 – Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the fourth quarter and full year ended December 31, 2024.

CEO Commentary

“2024 has been a transformative year of growth for Global Partners, strengthening our position in the U.S. liquid energy market and expanding our ability to serve our growing wholesale, retail, and commercial customer base,” said Eric Slifka, President and Chief Executive Officer. “Since late 2023, we have more than doubled our terminal count and capacity, integrating 30 additional terminals and increasing our total storage capacity by 12.1 million barrels to 22 million barrels.

“The acquisition of 25 terminals in December 2023 extended our network into Maryland, the Carolinas, Georgia, Florida, and Texas, expanding our operations to 18 states,” Slifka said. “This acquisition also included a significant 25-year take-or-pay contract with Motiva, a subsidiary of Saudi Aramco. In April 2024, we further strengthened our Northeast presence with the acquisition and integration of four additional terminals. In November, we expanded again, acquiring a 959,730-barrel liquid energy terminal in East Providence, Rhode Island, enhancing our capacity to handle larger cargo-sized vessels.

“Our diverse assets continue to perform well,” Slifka added. “With an expanded operating footprint, greater access to critical pipeline and marine networks, and a strong balance sheet, Global is well-positioned to leverage its supply, terminaling, and marketing expertise to seize growth opportunities and create long-term value for our unitholders.”

Fourth-Quarter and Full-Year 2024 Financial Highlights

Net income was $23.9 million, or $0.52 per diluted common limited partner unit, for the fourth quarter of 2024, compared with net income of $55.3 million, or $1.41 per diluted common limited partner unit, in the same period of 2023. Net income was $110.3 million, or $2.41 per diluted common limited partner unit, for full-year 2024 compared with net income of $152.5 million, or $3.76 per diluted common limited partner unit, in the same period of 2023.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $94.6 million in the fourth quarter of 2024 compared with $110.9 million in the same period of 2023. EBITDA was $389.4 million for full-year 2024 compared with $356.4 million in the same period of 2023.

Adjusted EBITDA was $97.8 million in the fourth quarter of 2024 versus $112.1 million in the same period of 2023. Adjusted EBITDA was $388.9 million for full-year 2024 versus $356.3 million in the same period of 2023.

Distributable cash flow (DCF) was $45.7 million in the fourth quarter of 2024 compared with $59.4 million in the same period of 2023. DCF was $205.8 million for full-year 2024 compared with $202.7 million in the same period of 2023.

Adjusted DCF was $46.1 million in the fourth quarter of 2024 compared with $58.8 million in the same period of 2023. Adjusted DCF was $208.0 million for full-year 2024 compared with $201.7 million in the same period of 2023.

Gross profit was $268.8 million in the fourth quarter of 2024 compared with $280.4 million in the same period of 2023. Gross profit was $1.1 billion for full-year 2024 compared with $973.6 million in the same period of 2023.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $302.0 million in the fourth quarter of 2024 compared with $305.7 million in the same period of 2023. Combined product margin was $1.2 billion for full-year 2024 compared with $1.1 billion in the same period of 2023.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months and 12 months ended December 31, 2024, and 2023.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $213.6 million in the fourth quarter of 2024 compared with $245.4 million in the same period of 2023. Product margin from gasoline distribution was $145.7 million compared with $177.8 million in the year-earlier period, primarily reflecting lower fuel margins (cents per gallon). Product margin from station operations was $67.9 million in the fourth quarter of 2024 compared with $67.6 million in the fourth quarter of

EX-99.1

2 tm2427619d1_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts:

Gregory B. Hanson Sean T. Geary

Chief Financial Officer Chief Legal Officer and Secretary

Global Partners LP Global Partners LP

(781) 894-8800 (781) 894-8800

Global Partners Reports Third-Quarter 2024 Financial Results

Waltham, Mass., November 8, 2024 – Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the third quarter ended September 30, 2024.

CEO Commentary

“Global’s solid financial and operational performance in the third quarter highlights the continued growth and diversification of our retail, terminal, and wholesale liquid energy portfolio,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “We delivered year-over-year gains across our key financial metrics, demonstrating the effectiveness of our strategy to acquire, invest in and optimize assets that drive operating returns.

“We continue to integrate the 29 new terminals acquired over the past 11 months, adding business and growing volumes,” Slifka said. “In our Gasoline Distribution and Station Operations segment, our retail assets are exceeding expectations. In our Wholesale and Commercial segments, supply market dynamics enabled us to capitalize on favorable conditions in the quarter. Our integrated business model provides the potential to enhance our market leadership and long-term growth.

“On November 1, we acquired the ExxonMobil terminal in East Providence, Rhode Island. This transaction complements our existing terminal network with the addition of 959,730 barrels of storage and deep-water dock access,” Slifka concluded.

Third-Quarter 2024 Financial Highlights

Net income was $45.9 million, or $1.17 per diluted common limited partner unit, for the third quarter of 2024, compared with net income of $26.8 million, or $0.60 per diluted common limited partner unit, in the same period of 2023.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $119.1 million in the third quarter of 2024 compared with $76.7 million in the same period of 2023.

Adjusted EBITDA was $114.0 million in the third quarter of 2024 versus $77.7 million in the same period of 2023.

Distributable cash flow (DCF) was $71.1 million in the third quarter of 2024 compared with $42.2 million in the same period of 2023.

Adjusted DCF was $71.6 million in the third quarter of 2024 compared with $43.3 million in the same period of 2023.

Gross profit was $286.0 million in the third quarter of 2024 compared with $228.5 million in the same period of 2023.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $318.3 million in the third quarter of 2024 compared with $252.1 million in the same period of 2023.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months and nine months ended September 30, 2024, and 2023.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $237.7 million in the third quarter of 2024 compared with $206.5 million in the same period of 2023. Product margin from gasoline distribution increased to $164.1 million from $132.0 million in the year-earlier period, primarily reflecting higher fuel margins (cents per gallon). Product margin from station operations decreased to $73.6 million in the third quarter of 2024 from $74.5 million in the third quarter of 2023.

Wholesale segment product margin was $71.1 million in the third quarter of 2024 compared with $37.2 million in the same period of 2023. Gasoline and gasoline blendstocks product margin increased to $43.0 million in the third quarter of 2024 from $20.4 million in the same period of 2023, driven primarily by the acquisition of liquid energy terminals from Motiva Enterprises LLC in December 2023 and by more favorable market conditions. Product margin from distillates and other oils was $28.1 million in the third quarter of 2024 compared with $16.8 million in the same period of 2023, primarily due to more favorable market conditions in residual oil and distillates.

Commercial segment product margin was $9.5 million in the third quarter of 2024 compared with $8.4 million in the same period of 2023 primarily due to more favorable market conditions in bunkering.

Total sales were $4.4 billion in the third quarter of 2024 compared with $4.2 billion in the same period of 2023, primarily due to an increase in volume sold, partially offset by a decrease in prices. Wholesale segment sales were $2.7 billion in the third quarter of 2024 compared with $2.3 billi

EX-99.1

2 tm2420898d1_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts:

Gregory B. Hanson Sean T. Geary

Chief Financial Officer Chief Legal Officer and Secretary

Global Partners LP Global Partners LP

(781) 894-8800 (781) 894-8800

Global Partners Reports Second-Quarter 2024 Financial Results

Waltham, Mass., August 7, 2024 – Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the second quarter ended June 30, 2024.

CEO Commentary

“Global Partners achieved year-over-year growth across all key financial metrics in the second quarter,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “These results underscore the effectiveness of our integrated business model and the strategic advantages of our diversified portfolio of liquid energy terminals, fueling stations and convenience markets.

“Over the past nine months, we have invested more than $500 million to significantly expand our Wholesale segment footprint through the strategic acquisition of a combined 29 terminals from Motiva Enterprises and Gulf Oil, more than doubling our storage capacity to 21.4 million barrels,” Slifka said. “We’re pleased with the performance of these assets. Our expanded network bolsters our terminal operations and opens new avenues for growth, further enhancing our earnings power and driving sustained value for our unitholders.”

Second-Quarter 2024 Financial Highlights

Net income was $46.1 million, or $1.10 per diluted common limited partner unit, for the second quarter of 2024, compared with net income of $41.4 million, or $1.05 per diluted common limited partner unit, in the same period of 2023.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $118.8 million in the second quarter of 2024 compared with $90.7 million in the same period of 2023.

Adjusted EBITDA was $121.1 million in the second quarter of 2024 versus $90.4 million in the same period of 2023.

Distributable cash flow (DCF) was $73.1 million in the second quarter of 2024 compared with $54.8 million in the same period of 2023.

Adjusted DCF was $74.2 million in the second quarter of 2024 compared with $53.3 million in the same period of 2023.

Gross profit was $287.9 million in the second quarter of 2024 compared with $242.7 million in the same period of 2023.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $319.6 million in the second quarter of 2024 compared with $265.6 million in the same period of 2023.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months and six months ended June 30, 2024, and 2023.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $221.5 million in the second quarter of 2024 compared with $199.1 million in the same period of 2023. Product margin from gasoline distribution increased to $147.3 million from $127.9 million in the year-earlier period, reflecting higher fuel margins (cents per gallon). Product margin from station operations increased to $74.2 million in the second quarter of 2024 from $71.2 million in the second quarter of 2023.

Wholesale segment product margin was $91.9 million in the second quarter of 2024 compared with $59.7 million in the same period of 2023. Gasoline and gasoline blendstocks product margin increased to $70.4 million in the second quarter of 2024 from $39.0 million in the same period of 2023, driven primarily by the acquisition of liquid energy terminals from Motiva Enterprises LLC in December 2023 and by more favorable market conditions in gasoline. Product margin from distillates and other oils was $21.5 million in the second quarter of 2024 compared with $20.7 million in the same period of 2023, primarily due to more favorable market conditions in distillates offset by less favorable market conditions in residual oil.

Commercial segment product margin was $6.2 million in the second quarter of 2024 compared with $6.8 million in the same period of 2023 primarily due to less favorable market conditions.

Total sales were $4.4 billion in the second quarter of 2024 compared with $3.8 billion in the same period of 2023, primarily due to an increase in volume sold. Wholesale segment sales were $2.6 billion in the second quarter of 2024 compared with $2.1 billion in the same period of 2023. GDSO segment sales were $1.5 billion in each of the second quarters of 2024 and 2023. Commercial segment sales were $280.9 million in the second quarter of 2024 compared with $226.5 million in the second quarter of 2023.

Total volume

EX-99.1

2 tm2413766d1_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts:

Gregory B. Hanson Sean T. Geary

Chief Financial Officer Chief Legal Officer and Secretary

Global Partners LP Global Partners LP

(781) 894-8800 (781) 894-8800

Global Partners LP Reports First-Quarter 2024 Financial Results

Waltham, Mass., May 8, 2024 – Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the first quarter ended March 31, 2024.

CEO Commentary

Eric Slifka, the Partnership’s President and Chief Executive Officer, said, “Our Gasoline Distribution and Station Operations segment performed well in the first quarter, posting healthy margins that partly offset less favorable market conditions in our Wholesale and Commercial segments. Specific to our Wholesale segment, certain products were negatively impacted by the timing of mark-to-market valuations, which have largely recovered in the month of April. In the first quarter, we successfully completed the integration of liquid energy terminals acquired in December from Motiva Enterprises, and those assets performed in line with our expectations for the quarter.

“In April, we closed on the purchase of four liquid energy terminals in the Northeast from Gulf Oil Limited Partnership. This acquisition, which will be reflected in our results beginning in the second quarter of this year, further demonstrates our commitment to increasing the scale and strength of our growing energy distribution network,” Slifka said. “We are excited about the new opportunities the Gulf and Motiva transactions create to build on our strategic advantage and serve customers in these high-demand markets.”

First-Quarter 2024 Financial Highlights

Net loss was $5.6 million, or $0.37 per common limited partner unit, for the first quarter of 2024 compared with net income of $29.0 million, or $0.70 per diluted common limited partner unit, in the same period of 2023.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $56.9 million in the first quarter of 2024 compared with $78.1 million in the same period of 2023.

Adjusted EBITDA was $56.0 million in the first quarter of 2024 versus $76.0 million in the same period of 2023.

Distributable cash flow (DCF) was $15.8 million in the first quarter of 2024 compared with $46.3 million in the same period of 2023.

Adjusted DCF was $16.0 million in the first quarter of 2024 compared with $46.3 million in the same period of 2023.

Gross profit in the first quarter of 2024 was $215.1 million compared with $222.1 million in the same period of 2023.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $244.1 million in the first quarter of 2024 compared with $244.8 million in the same period of 2023.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months ended March 31, 2024, and 2023.

GDSO segment product margin was $187.7 million in the first quarter of 2024 compared with $183.5 million in the same period of 2023. Product margin from gasoline distribution increased to $121.6 million from $120.8 million in the year-earlier period, primarily due to higher fuel margins (cents per gallon). Product margin from station operations totaled $66.1 million compared with $62.7 million in the first quarter of 2023.

Wholesale segment product margin was $49.4 million in the first quarter of 2024 compared with $53.1 million in the same period of 2023. Gasoline and gasoline blendstocks product margin was $29.7 million compared with $20.4 million in the same period of 2023, largely due to the acquisition of 25 refined product terminals and related assets from Motiva Enterprises in December 2023, partially offset by less favorable market conditions in gasoline. Product margin from distillates and other oils was $19.7 million in the first quarter of 2024 compared with $32.7 million in the same period of 2023, primarily due to less favorable market conditions in residual oil.

Commercial segment product margin was $7.0 million in the first quarter of 2024 compared with $8.1 million in the same period of 2023, primarily due to less favorable market conditions.

Total sales were $4.1 billion in the first quarter of 2024 compared with $4.0 billion in the same period of 2023. Wholesale segment sales were $2.6 billion in the first quarter of 2024 compared with $2.5 billion in the same period of 2023. GDSO segment sales were $1.2 billion in the first quarter of 2024 versus $1.3 billion in the same period of 2023. Commercial segment sales were $278.6 million in th

EX-99.1

2 tm247043d1_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

News Release

Gregory B. Hanson Sean T. Geary

Chief Financial Officer Chief Legal Officer and Secretary

Global Partners LP Global Partners LP

(781) 894-8800 (781) 894-8800

Global Partners LP Reports Fourth-Quarter and Full-Year 2023 Financial Results

WALTHAM,

Mass., February 28, 2024 -- Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the fourth quarter and full year ended December 31, 2023.

CEO Commentary

“2023 was a transformational year for Global, as we completed the strategic acquisition of 25 liquid energy terminals from Motiva Enterprises and completed the first acquisition in our retail joint venture with ExxonMobil,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “The Motiva transaction creates an exciting opportunity for our supply, storage, terminalling and retail networks in some of the fastest-growing regions of the country. The acquisition nearly doubles our terminal storage capacity, supported by a 25-year take-or-pay throughput agreement with Motiva that includes minimum annual revenue commitments.

“On the retail side, our joint venture acquisition with ExxonMobil of 64 convenience and fueling facilities in Greater Houston enables us to apply our operational and management expertise in one of the nation’s largest cities,” Slifka said. “With these two deals, our market diversification and growth potential have never been stronger.

“We capped the year with a solid fourth-quarter performance, highlighted by higher retail fuel margins compared with the fourth quarter of 2022,” Slifka said. “Our ability to deliver strong performance in a less volatile market environment demonstrates the value of our integrated asset base, diverse portfolio of liquid energy products and the operational skill of our exceptional team.”

Fourth-Quarter 2023 Financial Highlights

Net income was $55.3 million, or $1.41 per diluted common limited partner unit, for the fourth quarter of 2023 compared with net income of $57.5 million, or $1.54 per diluted common limited partner unit, in the same period of 2022.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $110.9 million in the fourth quarter of 2023 compared with $105.3 million in the same period of 2022.

Adjusted EBITDA was $112.1 million in the fourth quarter of 2023 versus $106.9 million in the same period of 2022.

1

Distributable cash flow (DCF) was $59.4 million in the fourth quarter of 2023 compared with $57.3 million in the same period of 2022.

Adjusted DCF was $58.8 million in the fourth quarter of 2023 compared with $57.3 million in 2022.

Gross profit in the fourth quarter of 2023 was $280.4 million compared with $281.6 million in the same period of 2022.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $305.7 million in the fourth quarter of 2023 compared with $303.8 million in the same period of 2022.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three and twelve months ended December 31, 2023, and 2022.

GDSO segment product margin was $245.4 million in the fourth quarter of 2023 compared with $223.2 million in the same period of 2022. Product margin from gasoline distribution increased to $177.8 million from approximately $156.0 million in the year-earlier period, primarily due to higher fuel margins (cents per gallon). Product margin from station operations totaled $67.6 million compared with $67.2 million in the fourth quarter of 2022.

Wholesale segment product margin was $51.9 million in the fourth quarter of 2023 compared with $70.7 million in the same period of 2022. The decrease is primarily due to less favorable market conditions in distillates, partially offset by more favorable market conditions in gasoline and residual oil.

Commercial segment product margin was $8.4 million in the fourth quarter of 2023 compared with $9.9 million in the same period of 2022, primarily due to less favorable market conditions in bunkering.

Total sales were $4.4 billion in the fourth quarters of 2023 and 2022. Wholesale segment sales were $2.7 billion in the fourth quarter of 2023 compared with $2.6 billion in the same period of 2022. GDSO segment sales were $1.4 billion in the fourth quarter of 2023 versus $1.5 billion in the same period of 2022. Commercial segment sales were $0.3 billion in the fourth quarters of 2023 and 2022.

Total volume was 1.6 billion gallons in the fourth quarter of 2023 compared with 1.4 billion gallons in the same period of

EX-99.1

2 a53796668_ex991.htm

EXHIBIT 99.1

Exhibit 99.1

Global Partners Reports Third-Quarter 2023 Financial Results

WALTHAM, Mass.--(BUSINESS WIRE)--November 9, 2023--Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the third quarter ended September 30, 2023.

“Our team delivered solid results in Q3, which was in line with our expectations in a more normalized market compared with last year,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “We continue to deliver value across the midstream and downstream liquid energy markets, providing customers with essential products and services through our integrated fuel storage, distribution and retail assets.”

In a separate news release issued today, Global announced the signing of an asset purchase agreement with Motiva Enterprises LLC (“Motiva”) to acquire 25 liquid energy terminals along the Atlantic Coast, in the Southeast and in Texas. The purchase is underpinned by a 25-year take-or-pay throughput agreement. Global has agreed to purchase the terminals, which have a shell capacity of 8.4 million barrels, for $305.8 million in cash. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close by year-end.

“This transaction will significantly strengthen and diversify our terminalling assets and allow Global to deliver additional value to wholesale, commercial and retail customers in new and existing markets,” Mr. Slifka said. “These strategically located terminals support our strategy to acquire, invest in and optimize assets that drive operating synergies.”

Third-Quarter 2023 Financial Highlights

Net income was $26.8 million, or $0.60 per diluted common limited partner unit, for the third quarter of 2023, compared with net income of $111.4 million, or $3.12 per diluted common limited partner unit, in 2022.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $76.7 million in the third quarter of 2023 compared with $168.2 million in 2022.

Adjusted EBITDA was $77.7 million in the third quarter of 2023 versus $168.5 million in 2022.

Distributable cash flow (DCF) was $42.2 million in the third quarter of 2023 compared with $128.0 million in 2022.

Adjusted DCF was $43.3 million in the third quarter of 2023 compared with $128.0 million in 2022.

Gross profit was $228.5 million in the third quarter of 2023 compared with $328.4 million in 2022.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $252.1 million in the third quarter of 2023 compared with $351.3 million in 2022.

Combined product margin, EBITDA, adjusted EBITDA, DCF and adjusted DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three and nine months ended September 30, 2023, and 2022.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $206.5 million in the third quarter of 2023 compared with $261.6 million in 2022. Product margin from gasoline distribution decreased to $132.0 million from $188.0 million in the year-earlier period, partly due to lower fuel margins (cents per gallon) in 2023 compared with significantly higher fuel margins in 2022 due to especially favorable market conditions experienced last year. Product margin from station operations increased to $74.5 million from $73.6 million in the same period last year. GDSO product margins in both gasoline distribution and station operations were negatively impacted during the third quarter of 2023 due to excessive amounts of rain in the Northeast, particularly in July.

Wholesale segment product margin decreased to $37.2 million in the third quarter of 2023 compared with $79.3 million in 2022, primarily due to less favorable market conditions in gasoline, distillates and residual oil compared with the same period in 2022. Gasoline and gasoline blendstocks product margin was $20.4 million compared with $54.2 million in the year-earlier period. Product margin from distillates and other oils was $16.8 million compared with $25.1 million in the same period last year.

Commercial segment product margin was $8.4 million in the third quarter of 2023 compared with $10.4 million in 2022, primarily due to less favorable market conditions in bunkering.

Total sales were $4.2 billion in the third quarter of 2023 compared with $4.6 billion in 2022. Wholesale segment sales were $2.3 billion in the third quarter of 2023 compared with $2.5 billion in 2022. GDSO segment sales were $1.6 billion in the third quarter of 2023 versus $1.8 billion in 2022. Commercial segment sales were $273.8 million in the third quar

EX-99.1

2 a53507352ex99_1.htm

EXHIBIT 99.1

Exhibit 99.1

Global Partners Reports Second-Quarter 2023 Financial Results

WALTHAM, Mass.--(BUSINESS WIRE)--August 4, 2023--Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the second quarter ended June 30, 2023.

“We delivered solid second-quarter results with Wholesale and GDSO performing above our expectations,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “In June, we began operating the 64 Houston-area convenience and fueling facilities acquired in our previously disclosed joint venture with ExxonMobil, expanding our presence into Texas. The expansion of our retail footprint reflects the continued execution of our overall growth strategy: to acquire, invest and optimize.”

Financial Highlights

Net income was $41.4 million, or $1.05 per diluted common limited partner unit, for the second quarter of 2023, compared with net income of $162.8 million, or $4.61 per diluted common limited partner unit, in the same period of 2022.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $90.7 million in the second quarter of 2023 compared with $211.8 million in the same period of 2022.

Adjusted EBITDA was $91.6 million in the second quarter of 2023 versus $134.9 million in the same period of 2022.

Distributable cash flow (DCF) was $54.8 million in the second quarter of 2023 compared with $178.2 million in the same period of 2022.

Net income, EBITDA and DCF for the second quarter of 2022 included a net gain on sale and disposition of assets of $76.8 million, primarily related to the sale of the Partnership’s terminal in Revere, Massachusetts in June 2022.

Gross profit in the second quarter of 2023 was $242.7 million compared with $281.5 million in the same period of 2022.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $265.6 million in the second quarter of 2023 compared with $301.9 million in the same period of 2022.

Combined product margin, EBITDA, Adjusted EBITDA, and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months ended June 30, 2023, and 2022.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $199.1 million in the second quarter of 2023 compared with $198.9 million in the same period of 2022. Product margin from gasoline distribution decreased to $127.9 million from $129.9 million in the year-earlier period, reflecting a slight decrease in volume sold. Product margin from station operations increased to $71.2 million from $69.0 million in the second quarter of 2022, in part due to the acquisition of Tidewater Convenience in the third quarter of 2022.

Wholesale segment product margin was $59.7 million in the second quarter of 2023 compared with $90.5 million in the same period of 2022, primarily due to less favorable market conditions in distillates and residual oil.

Commercial segment product margin was $6.8 million in the second quarter of 2023 compared with $12.5 million in the same period of 2022, primarily due to less favorable market conditions in bunkering.

Total sales were $3.8 billion in the second quarter of 2023 compared with $5.3 billion in the same period of 2022. Wholesale segment sales were $2.1 billion in the second quarter of 2023 compared with $3.0 billion in the same period of 2022. GDSO segment sales were $1.5 billion in the second quarter of 2023 versus $1.9 billion in the same period of 2022. Commercial segment sales were $226.5 million in the second quarter of 2023 compared with $363.4 million in the second quarter of 2022.

Total volume was 1.3 billion gallons in the second quarter of 2023 and 2022. Wholesale segment volume was 809.6 million gallons in the second quarter of 2023 compared with 792.6 million gallons in the same period of 2022. GDSO volume was 417.4 million gallons in the second quarter of 2023 compared with 422.3 million gallons in the same period of 2022. Commercial segment volume was 102.5 million gallons in the second quarter of 2023 compared with 95.4 million gallons in the same period of 2022.

Recent Developments

In June, a joint venture owned by subsidiaries of Global and ExxonMobil Corporation completed its previously disclosed acquisition of 64 Houston-area convenience and fueling facilities. Global manages and operates the facilities.

Global announced a quarterly cash distribution of $0.6750 ($2.70 on an annualized basis) on all of its outstanding common units for the period from April 1 to June 30, 2023. The distribution will be paid on August 14, 2023 to unitholders of record as of the close o

EX-99.1

2 a53394038ex99_1.htm

EXHIBIT 99.1

Exhibit 99.1

Global Partners Reports First-Quarter 2023 Financial Results

WALTHAM, Mass.--(BUSINESS WIRE)--May 5, 2023--Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the first quarter ended March 31, 2023.

“The Global team executed well in the first quarter, posting results in line with our expectations,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “Continued momentum in our Gasoline Distribution and Station Operations segment helped to more than offset the effects of warmer-than-normal temperatures on our winter-sensitive products. Our performance underscores the strength of our diversified business model, which focuses on creating value for unitholders and delivering quality products and superior service to our customers and guests across our network of liquid energy terminals and convenience markets.

“Through organic initiatives and strategic transactions, we continue to advance our leadership role in the energy distribution network,” Slifka said. “During the first quarter we signed a joint venture agreement with ExxonMobil to acquire 64 convenience and fueling facilities in Greater Houston. We are excited about the opportunity to expand our footprint into the fast-growing Texas market and look forward to operating these sites on behalf of the joint venture.”

Financial Highlights

Net income was $29.0 million, or $0.70 per diluted common limited partner unit, for the first quarter of 2023, compared with net income of $30.5 million, or $0.76 per diluted common limited partner unit, in the same period of 2022.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $78.1 million in the first quarter of 2023 compared with $79.8 million in the same period of 2022.

Adjusted EBITDA was $76.0 million in the first quarter of 2023 versus $74.9 million in the same period of 2022.

Distributable cash flow (DCF) was $46.3 million in the first quarter of 2023 compared with $49.9 million in the same period of 2022.

EBITDA, Adjusted EBITDA and DCF include a net gain on sale and disposition of assets of $2.1 million and $4.9 million for the three months ended March 31, 2023 and 2022, respectively.

Gross profit in the first quarter of 2023 was $222.1 million compared with $206.2 million in the same period of 2022.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $244.8 million in the first quarter of 2023 compared with $228.2 million in the same period of 2022.

Combined product margin, EBITDA, Adjusted EBITDA, and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months ended March 31, 2023, and 2022.

Gasoline Distribution and Station Operations (GDSO) segment product margin was $183.5 million in the first quarter of 2023 compared with $173.0 million in the same period of 2022. Product margin from gasoline distribution increased to $120.8 million from $114.9 million in the year-earlier period, primarily due to higher fuel margins (cents per gallon) and an increase in volume sold due to acquisitions completed in 2022. Product margin from station operations increased to $62.7 million from $58.1 million in the first quarter of 2022, primarily due to increased convenience store sales in part as a result of the 2022 acquisitions.

Wholesale segment product margin was $53.1 million in the first quarter of 2023 compared with $47.1 million in the same period of 2022. The increase was primarily driven by more favorable conditions in gasoline and gasoline blendstocks, which more than offset less favorable market conditions in distillates and other oils.

Commercial segment product margin was $8.1 million in the first quarter of 2023 and 2022.

Total sales were $4.0 billion in the first quarter of 2023 compared with $4.5 billion in the same period of 2022. Wholesale segment sales were $2.5 billion in the first quarter of 2023 compared with $2.8 billion in the same period of 2022. GDSO segment sales were $1.3 billion in the first quarter of 2023 versus $1.4 billion in the same period of 2022. Commercial segment sales were $257.9 million in the first quarter of 2023 compared with $330.0 million in the first quarter of 2022.

Total volume was 1.4 billion gallons in the first quarter of 2023 compared with 1.5 billion gallons in the same period of 2022. Wholesale segment volume was 928.6 million gallons in the first quarter of 2023 compared with 976.8 million gallons in the same period of 2022. GDSO volume was 379.2 million gallons in the first quarter of 2023 compared with 376.5 million gallons in the same per

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EXHIBIT 99.1

Exhibit 99.1

Global Partners Reports Fourth-Quarter and Full-Year 2022 Financial Results

WALTHAM, Mass.--(BUSINESS WIRE)--February 27, 2023--Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the fourth quarter and full year ended December 31, 2022.

“Our fourth-quarter and full-year 2022 performance demonstrates the resilience of our business model, the strength of our assets and the value that our team delivers for customers at our gas stations, convenience markets and liquid energy terminals every day,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “We navigated a constrained supply chain and steep commodity price volatility throughout the year. Diligent planning, effective fuel inventory management and solid execution by the entire team allowed us to drive increased profitability, highlighted by healthy margin contributions from all three segments of our business.

“For the fourth quarter, our Wholesale segment product margin more than doubled from the same period in 2021, as market conditions and effective management of our inventories amid sustained backwardation in the distillates markets combined to drive strong margin capture. In our Gasoline Distribution and Station Operations (GDSO) segment, we continued to benefit from higher retail fuel margins and increased activity at our convenience stores, in part as a result of our recent acquisitions. Our Commercial segment also capped 2022 with a strong fourth quarter, as bunkering activity remained robust.”

Financial Highlights

Net income was $57.5 million, or $1.54 per diluted common limited partner unit, for the fourth quarter of 2022 compared with net income of $19.3 million, or $0.44 per diluted common limited partner unit, in the same period of 2021.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $105.3 million in the fourth quarter of 2022 compared with $65.7 million in the same period of 2021.

Adjusted EBITDA was $106.9 million in the fourth quarter of 2022 versus $66.0 million in the same period of 2021.

Distributable cash flow (DCF) was $57.3 million in the fourth quarter of 2022 compared with $30.5 million in the same period of 2021.

Gross profit in the fourth quarter of 2022 was $281.6 million compared with $193.1 million in the same period of 2021, driven primarily by increases in the GDSO and Wholesale segments.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $303.8 million in the fourth quarter of 2022 compared with $214.4 million in the same period of 2021.

Combined product margin, EBITDA, Adjusted EBITDA, and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three and twelve months ended December 31, 2022, and 2021.

GDSO segment product margin was $223.2 million in the fourth quarter of 2022 compared with $177.0 million in the same period of 2021. Product margin from gasoline distribution increased to approximately $156.0 million from $119.7 million in the year earlier period, primarily due to higher fuel margins (cents per gallon) and an increase in volume sold due to our recent acquisitions. Product margin from station operations increased to $67.2 million from $57.3 million in the fourth quarter of 2021, primarily due to increased convenience store sales in part as a result of the Partnership’s recent acquisitions.

Wholesale segment product margin was $70.7 million in the fourth quarter of 2022 compared with $32.6 million in the same period of 2021. The increase was primarily driven by more favorable market conditions in other oils and related products, primarily in distillates, partly offset by less favorable market conditions in gasoline and gasoline blendstocks, largely ethanol.

Commercial segment product margin was $9.9 million in the fourth quarter of 2022 compared with $4.8 million in the same period of 2021, primarily reflecting an increase in bunkering activity.

Total sales were $4.4 billion in the fourth quarter of 2022 compared with $4.1 billion in the same period of 2021. Wholesale segment sales were $2.6 billion in the fourth quarter of 2022 compared with $2.5 billion in the same period of 2021. GDSO segment sales were $1.5 billion in the fourth quarter of 2022 versus $1.3 billion in the same period of 2021. Commercial segment sales were $0.3 billion in each of the fourth quarters of 2022 and 2021.

Total volume was 1.4 billion gallons in the fourth quarter of 2022 compared with 1.5 billion gallons in the same period of 2021. Wholesale segment volume was 860.1 million gallons in the fourth quarter

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EXHIBIT 99.1

Exhibit 99.1

Global Partners Reports Third-Quarter 2022 Financial Results

WALTHAM, Mass.--(BUSINESS WIRE)--November 4, 2022--Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the third quarter ended September 30, 2022.

“We delivered strong third-quarter results, driven by growth across all three segments of our business,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “Our Gasoline Distribution and Station Operations (GDSO) 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,” Slifka continued. “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.”

Financial Highlights

Net income was $111.4 million, or $3.12 per diluted common limited partner unit, for the third quarter of 2022 compared with net income of $33.6 million, or $0.86 per diluted common limited partner unit, in the same period of 2021.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $168.2 million in the third quarter of 2022 compared with $79.4 million in the same period of 2021.

Adjusted EBITDA was $168.5 million in the third quarter of 2022 versus $79.2 million in the same period of 2021.

Distributable cash flow (DCF) was $128.0 million in the third quarter of 2022 compared with $49.7 million in the same period of 2021.

Gross profit in the third quarter of 2022 was $328.4 million compared with $203.1 million in the same period of 2021, driven primarily by the GDSO and Wholesale segments.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $351.3 million in the third quarter of 2022 compared with $223.9 million in the same period of 2021.

Combined product margin, EBITDA, Adjusted EBITDA, and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three and nine months ended September 30, 2022 and 2021.

GDSO segment product margin was $261.6 million in the third quarter of 2022 compared with $177.7 million in the same period of 2021. Product margin from gasoline distribution increased to $188.0 million from $112.4 million in the year earlier period, primarily due to higher fuel margins (cents per gallon) and an increase in volume sold due to recent acquisitions. Product margin from station operations increased to $73.6 million from $65.3 million in the third quarter of 2021, primarily due to recent acquisitions.

Wholesale segment product margin was $79.3 million in the third quarter of 2022 compared with $42.3 million in the same period of 2021. The increase was primarily driven by more favorable market conditions, largely in gasoline and distillates.

Commercial segment product margin was $10.4 million in the third quarter of 2022 compared with $3.9 million in the same period of 2021, reflecting an increase in bunkering activity.

Sales were $4.6 billion in the third quarter of 2022 compared with $3.3 billion in the same period of 2021. Wholesale segment sales were $2.5 billion in the third quarter of 2022 compared with $1.8 billion in the third quarter of 2021. GDSO segment sales were $1.8 billion in the third quarter of 2022 versus $1.3 billion in the same period of 2021. Commercial segment sales were $326.2 million in the third quarter of 2022 compared with $202.5 million in the same period of 2021.

Volume was 1.3 billion gallons in each of the third quarters of 2022 and 2021. Wholesale segment volume was 779.2 million gallons in the third quarter of 2022 compared with 813.4 million gallons in the same period of 2021. GDSO volume was 430.0 million gallons in the third quarter of 2022 compared with 416.8 million gallons in the same period of 2021. Commercial segment volume was 102.1 million gallons in the third quarter of 2022 compared with 10

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EXHIBIT 99.1

Exhibit 99.1

Global Partners Reports Second-Quarter 2022 Financial Results

WALTHAM, Mass.--(BUSINESS WIRE)--August 5, 2022--Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the second quarter ended June 30, 2022.

“We believe our strategy of building integrated supply, storage, marketing and retail assets creates a competitive advantage that enables us to drive results, as evidenced by our strong second-quarter performance,” said President and CEO Eric Slifka. “Our performance reflected outstanding execution across our business. We benefited from continued momentum in our Gasoline Distribution Station Operations segment, including our newly acquired retail sites, favorable market conditions in the Wholesale segment and an increase in bunkering activity in the Commercial segment.

“During the second quarter, we completed the sale of our Revere terminal on Boston Harbor for a purchase price of $150 million,” Slifka said. “In conjunction with the closing, we entered into a leaseback agreement with the buyer, retaining the use of certain tanks, dock access rights and loading rack infrastructure that allow us to continue our operations at the terminal.”

Financial Highlights

Net income was $162.8 million, or $4.61 per diluted common limited partner unit, for the second quarter of 2022 compared with net income of $12.1 million, or $0.23 per diluted common limited partner unit, in the same period of 2021.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $211.8 million in the second quarter of 2022 compared with $58.5 million in the same period of 2021.

Adjusted EBITDA was $134.9 million in the second quarter of 2022 versus $58.7 million in the same period of 2021.

Distributable cash flow (DCF) was $178.2 million in the second quarter of 2022 compared with $26.6 million in the same period of 2021.

Net income, EBITDA and DCF for the second quarter of 2022 include a net gain on sale and disposition of assets of $76.8 million, primarily related to the sale of the Partnership’s terminal in Revere, Massachusetts.

Gross profit in the second quarter of 2022 was $281.5 million compared with $178.0 million in the same period of 2021, driven primarily by the Wholesale and Gasoline Distribution and Station Operations (GDSO) segments.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $301.9 million in the second quarter of 2022 compared with $198.6 million in the same period of 2021.

Combined product margin, EBITDA, Adjusted EBITDA, and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three and six months ended June 30, 2022 and 2021.

GDSO segment product margin was $198.9 million in the second quarter of 2022 compared with $162.4 million in the same period of 2021. Product margin from gasoline distribution increased to $129.9 million from $101.3 million in the year earlier period, primarily due to higher fuel margins (cents per gallon) and an increase in volume sold due to recent acquisitions. Product margin from station operations increased to $69.0 million from $61.1 million in the second quarter of 2021, primarily due to recent acquisitions.

Wholesale segment product margin was $90.5 million in the second quarter of 2022 compared with $33.5 million in the same period of 2021. The increase was primarily driven by more favorable market conditions, largely in distillates and gasoline.

Commercial segment product margin was $12.5 million in the second quarter of 2022 compared with $2.7 million in the same period of 2021, reflecting an increase in bunkering activity.

Sales were $5.3 billion in the second quarter of 2022 compared with $3.3 billion in the same period of 2021. Wholesale segment sales were $3.0 billion in the second quarter of 2022 compared with $2.0 billion in the second quarter of 2021. GDSO segment sales were $1.9 billion in the second quarter of 2022 versus $1.1 billion in the same period of 2021. Commercial segment sales were $363.4 million in the second quarter of 2022 compared with $135.2 million in the same period of 2021.

Volume in the second quarter of 2022 was 1.3 billion gallons compared with 1.4 billion gallons in the same period of 2021. Wholesale segment volume was 792.6 million gallons in the second quarter of 2022 compared with 943.6 million gallons in the same period of 2021. GDSO volume was 422.3 million gallons in the second quarter of 2022 compared with 395.1 million gallons in the same period of 2021. Commercial segment volume was 95.4 million gallons in the second quarter of 2022 compared with 68.

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EXHIBIT 99.1

Exhibit 99.1

Global Partners Reports First-Quarter 2022 Financial Results

WALTHAM, Mass.--(BUSINESS WIRE)--May 6, 2022--Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the first quarter ended March 31, 2022.

“Volume and margin gains in each segment of our business highlighted a strong first-quarter performance for Global, as we continued to navigate a dynamic and volatile operating environment,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “Our results underscore the benefits of our vertically integrated liquid energy distribution system, which is designed to achieve synergies and enhance margins across each step of the value chain.

“Our strategy to drive growth through M&A and organic investments continues to generate positive results for Global,” Slifka said. “Product margin in our Gasoline Distribution and Station Operations segment increased 33% to $173 million in the first quarter. The segment benefitted from our recently completed acquisition of a combined 105 sites from Consumers Petroleum of Connecticut and Miller’s Neighborhood Market.”

Financial Highlights

Net income was $30.5 million, or $0.76 per diluted common limited partner unit, for the first quarter of 2022 compared with a net loss of $4.3 million, or $0.20 per common limited partner unit, in the same period of 2021.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $79.8 million in the first quarter of 2022 compared with $40.9 million in the same period of 2021.

Adjusted EBITDA was $74.9 million in the first quarter of 2022 versus $40.4 million in the same period of 2021.

Distributable cash flow (DCF) was $49.9 million in the first quarter of 2022 compared with $14.0 million in the same period of 2021.

EBITDA, Adjusted EBITDA and DCF include a net gain on sale and disposition of assets of $4.9 million and $0.5 million for the three months ended March 31, 2022 and 2021, respectively.

Gross profit in the first quarter of 2022 was $206.2 million compared with $145.0 million in the same period of 2021, driven primarily by the Gasoline Distribution and Station Operations (GDSO) segment.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $228.2 million in the first quarter of 2022 compared with $165.1 million in the same period of 2021.

Combined product margin, EBITDA, Adjusted EBITDA, and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three months ended March 31, 2022 and 2021.

GDSO segment product margin was $173.0 million in the first quarter of 2022 compared with $130.4 million in the same period of 2021. The increase was driven primarily by stronger retail fuel and convenience store margins and contributions from recent acquisitions.

Wholesale segment product margin was $47.1 million in the first quarter of 2022 compared with $30.5 million in the same period of 2021, driven by more favorable market conditions in other oils and related products, partially offset by less favorable market conditions in gasoline and gasoline blendstocks.

Commercial segment product margin was $8.1 million in the first quarter of 2022 compared with $4.2 million in the same period of 2021, reflecting an increase in bunkering activity.

Sales were $4.5 billion in the first quarter of 2022 compared with $2.6 billion in the same period of 2021. Wholesale segment sales were $2.8 billion in the first quarter of 2022 compared with $1.6 billion in the first quarter of 2021. GDSO segment sales were $1.4 billion in the first quarter of 2022 versus $0.9 billion in the same period of 2021. Commercial segment sales were $330.0 million in the first quarter of 2022 compared with $145.7 million in the same period of 2021.

Volume in the first quarter of 2022 was 1.5 billion gallons compared with 1.3 billion gallons in the same period of 2021. Wholesale segment volume was 976.8 million gallons in the first quarter of 2022 compared with 885.4 million gallons in the same period of 2021. GDSO volume was 376.5 million gallons in the first quarter of 2022 compared with 334.1 million gallons in the same period of 2021. Commercial segment volume was 116.8 million gallons in the first quarter of 2022 compared with 81.4 million gallons in the same period of 2021.

Recent Developments

Global announced a quarterly cash distribution of $0.5950 per unit, or $2.38 per unit on an annualized basis, on all of its outstanding common units for the period from January 1 to March 31, 2022. The distribution will be paid May 13, 2022 to unitholders of record as of the close

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EXHIBIT 99.1

Exhibit 99.1

Global Partners Reports Fourth-Quarter and Full-Year 2021 Financial Results

WALTHAM, Mass.--(BUSINESS WIRE)--February 28, 2022--Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) today reported financial results for the fourth quarter and full year ended December 31, 2021.

“Sustained momentum in our Gasoline Distribution and Station Operations (GDSO) segment contributed to a strong fourth-quarter performance for Global,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “Retail fuel volume and margins increased year-over-year in the quarter while demand across our convenience store portfolio continued to improve amid the recovery in the U.S. economy.

“We had a solid year in 2021, successfully navigating the pandemic and the related macroeconomic challenges that affected virtually all industries during the past year,” Slifka continued. “Our performance speaks to the scale and reliability of our vertically integrated assets and businesses, which enable us to deliver significant value for our customers, consumers and unitholders.”

Financial Highlights

Net income was $19.3 million, or $0.44 per diluted common limited partner unit, for the fourth quarter of 2021 compared with $4.4 million, or $0.06 per diluted common limited partner unit, for the same period in 2020.

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) was $65.7 million for the fourth quarter of 2021 compared with $50.2 million for the year-earlier period.

Adjusted EBITDA for the fourth quarter of 2021 was $66.0 million compared with $49.9 million for the fourth quarter of 2020.

Distributable cash flow (“DCF”) was $30.5 million for the fourth quarter of 2021 compared with $7.3 million for the 2020 period.

Gross profit in the fourth quarter of 2021 increased to $193.1 million from $166.2 million a year earlier.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $214.4 million in the fourth quarter of 2021 compared with $186.2 million in the fourth quarter of 2020.

Combined product margin, EBITDA, Adjusted EBITDA, and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three and 12 months ended December 31, 2021 and 2020.

GDSO segment product margin was $177.0 million in the fourth quarter of 2021 compared with $143.6 million in the fourth quarter of 2020, primarily reflecting higher fuel volume and margin (cents per gallon) and an increase in activity at the Partnership’s convenience stores.

Wholesale segment product margin was $32.6 million in the fourth quarter of 2021 compared with $39.7 million in the fourth quarter of 2020, primarily reflecting less favorable market conditions in other oils and related products, partly offset by more favorable market conditions in gasoline and gasoline blendstocks, largely ethanol.

Commercial segment product margin was $4.8 million compared with $2.9 million in the fourth quarter of 2020, primarily due to an increase in volume sold and improved margins.

Total sales were $4.1 billion in the fourth quarter of 2021 compared with $2.2 billion in the same period of 2020, primarily due to an increase in prices. Wholesale segment sales increased to $2.5 billion in the fourth quarter of 2021 from $1.3 billion in the year-earlier period. GDSO segment sales were $1.3 billion in the fourth quarter of 2021 versus $0.8 billion in the fourth quarter of 2020. Commercial segment sales were $0.3 billion in the fourth quarter of 2021 compared with $0.1 billion in the fourth quarter of 2020.

Total volume in the fourth quarter of 2021 was 1.5 billion gallons, essentially unchanged from the same period of 2020. Wholesale segment volume was 1.0 billion gallons in each of the fourth quarters of 2021 and 2020. GDSO volume was 400.5 million gallons in the fourth quarter of 2021 compared with 354.0 million gallons in the fourth quarter of 2020. Commercial segment volume was 118.9 million gallons in the fourth quarter of 2021 compared with 69.9 million gallons in the year-earlier period.

Recent Highlights

Executed an agreement to sell its Boston Harbor terminal in Revere, Massachusetts. In connection with the closing of the transaction, Global will lease back from the buyer key infrastructure that will allow the Partnership to continue operations at the terminal post-closing. The transaction is expected to close in the first half of 2022, subject to customary closing conditions.

Completed the purchase of retail fuel and convenience store assets from Consumers Petroleum of Connecticut, Inc. The transaction included 26 company-owned Wheels conven

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EXHIBIT 99.1

Exhibit 99.1

Global Partners Reports Third-Quarter 2021 Financial Results

WALTHAM, Mass.--(BUSINESS WIRE)--November 5, 2021--Global Partners LP (NYSE: GLP) today reported financial results for the third quarter ended September 30, 2021.

“Margin growth in all three segments highlighted a solid third quarter that demonstrated the resilience of our integrated business model, from our terminal network to our retail portfolio,” said Eric Slifka, the Partnership’s President and CEO. “With COVID-19 restrictions eased, we continued to see improved demand across our portfolio.

“GDSO (Gasoline Distribution and Station Operations) margins and volume posted double-digit percentage growth in the quarter, despite a significant increase in wholesale fuel prices year-over-year,” Slifka continued. “In addition, we benefited from favorable market conditions in gasoline and distillates in our Wholesale segment and increased volume and improved margins in our Commercial segment.

“Our Q3 performance underscores our role as a critical infrastructure company. Every day, we provide the essential products and services people need to fuel their vehicles, heat their homes, run their businesses, and add convenience to their lives,” Slifka said. “Like other businesses, we encountered spot supply chain disruptions and labor shortages. We were able to mitigate these issues where possible, minimizing impacts, and our third-quarter results were strong.”

Financial Highlights

Net income attributable to the Partnership was $33.6 million, or $0.86 per diluted common limited partner unit, for the third quarter of 2021 compared with $18.2 million, or $0.47 per diluted common limited partner unit, for the same period in 2020.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $79.4 million for the third quarter of 2021 compared with $65.0 million for the year-earlier period.

Adjusted EBITDA for the three months ended September 30, 2021 was $79.2 million compared with $65.9 million for the third quarter of 2020.

Distributable cash flow (DCF) totaled $49.7 million for the third quarter of 2021 compared with $31.3 million for the 2020 period.

Gross profit in the third quarter of 2021 increased to $203.1 million from $169.2 million a year earlier, primarily reflecting higher product margins in the GDSO segment and more favorable market conditions in the Wholesale segment, primarily in gasoline and gasoline blendstocks and other oils and related products.

Combined product margin, which is gross profit adjusted for depreciation allocated to cost of sales, was $223.9 million in the third quarter of 2021 compared with $189.3 million in the third quarter of 2020.

Combined product margin, EBITDA, Adjusted EBITDA, and DCF are non-GAAP (Generally Accepted Accounting Principles) financial measures, which are explained in greater detail below under “Use of Non-GAAP Financial Measures.” Please refer to Financial Reconciliations included in this news release for reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for the three and nine months ended September 30, 2021 and 2020.

GDSO segment product margin was $177.7 million in the third quarter of 2021 compared with $158.9 million in the third quarter of 2020, primarily reflecting an increase in fuel volume and increases in activity at the Partnership’s convenience stores.

Wholesale segment product margin was $42.3 million in the third quarter of 2021 compared with $28.9 million in the third quarter of 2020, primarily reflecting more favorable market conditions in gasoline and distillates in the 2021 period.

Commercial segment product margin was $3.9 million compared with $1.5 million in the third quarter of 2020, primarily driven by an increase in volume sold and improved margins.

Sales were $3.3 billion in the third quarter of 2021 compared with $2.0 billion in the same period of 2020, primarily due to an increase in prices. Wholesale segment sales increased to $1.8 billion in the third quarter of 2021 from $1.2 billion in the year-earlier period. GDSO segment sales were $1.3 billion in the third quarter of 2021 versus $0.8 billion in the third quarter of 2020. Commercial segment sales were $202.5 million in the third quarter of 2021 compared with $83.5 million in the third quarter of 2020.

Volume in the third quarter of 2021 was 1.3 billion gallons compared with 1.4 billion gallons in the same period of 2020. Wholesale segment volume was 813.4 million gallons in the third quarter of 2021 and 916.7 million gallons in the third quarter of 2020. GDSO volume was 416.8 million gallons in the third quarter of 2021 compared with 376.3 million gallons in the third quarter of 2020. Commercial segment volume was 101.2 million gallons in the third quarter of 2021 compared with 60.9 million gallons in the year-earlier period.

Recent Highlights

During the third quarter, the Part