Filing Flows › Global Partners LP (GLP) › Q1 2026
Global Partners LP (GLP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Global Partners LP (GLP) reported revenue of $5.3B for the first quarter 2026 (Q1 2026), +16% from a year earlier and +14% from the quarter before. Operating margin was 2.0%, net earnings $70.1M (1.3% of revenue).
Global Partners LP, Q1 2026: revenue $5.3B (+16% year over year), operating margin 2.0%, net earnings $70.1M, operating cash flow −$105M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.3B | +14% | +16% |
| Gross profit | $332M | +26% | +30% |
| Operating profit | $106M | +85% | +89% |
| Net earnings | $70.1M | +180% | +275% |
| Operating cash flow | −$105M | -204% | — |
What changed
Revenue was $5.3B in Q1 2026, up 16% year over year and up 14% from the previous quarter. Wholesale segment was the largest line at 72% of revenue. Wholesale segment added $0.66B year over year (up 21%), 90% of the total change. GDSO declined 2%.
Gross margin was 6.2%, up 0.7 points from Q1 2025. Operating profit was $0.11B, a 2.0% margin (up 0.8 points year over year). Of the extra revenue versus Q1 2025, 7% reached operating profit, above the 1% margin then. Operating expenses grew 14% against revenue growth of 16%. The fastest-growing cost line was SG&A (+35%). Net earnings were $0.07B, up 275% year over year. The effective tax rate was 1.2%.
Operating cash flow was −$0.10B. Non-cash charges added back $0.01B of share-based compensation. Working capital and other items used $0.18B. Capital expenditures of $0.03B exceeded it, leaving free cash flow of −$0.14B.
Questions
What was Global Partners LP's revenue in the first quarter 2026?
Global Partners LP (GLP) reported revenue of $5.3B for the first quarter 2026 (Q1 2026), +16% from a year earlier and +14% from the quarter before.
Was Global Partners LP profitable in the first quarter 2026?
Operating profit was $106M (2.0% of revenue) and net earnings $70.1M.
Source: Global Partners LP 10-Q on SEC EDGAR.