Filing Flows › Global Partners LP (GLP) › Q2 2025
Global Partners LP (GLP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Global Partners LP (GLP) reported revenue of $4.6B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +0.8% from the quarter before. Operating margin was 1.3%, net earnings $25.2M (0.5% of revenue).
Global Partners LP, Q2 2025: revenue $4.6B (+5% year over year), operating margin 1.3%, net earnings $25.2M, operating cash flow $216M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +0.8% | +5% |
| Gross profit | $272M | +7% | -5% |
| Operating profit | $60.1M | +7% | -28% |
| Net earnings | $25.2M | +35% | -45% |
| Operating cash flow | $216M | — | +789% |
| Free cash flow | $201M | — | 23× |
What changed
Revenue was $4.6B in Q2 2025, up 5% year over year and up 1% from the previous quarter. Wholesale segment was the largest line at 68% of revenue. Wholesale segment added $0.47B year over year (up 18%), 216% of the total change. GDSO declined 17%.
Gross margin was 5.9%, down 0.6 points from a year earlier. Operating profit was $0.06B, a 1.3% margin (down 0.6 points year over year). Operating profit fell $0.02B even though revenue rose $0.22B versus a year earlier, so costs grew faster than sales. Operating expenses grew 4% against revenue growth of 5%. Net earnings were $0.03B, down 45% year over year. The effective tax rate was -0.4%.
Operating cash flow was $0.22B (up 789% year over year), 858% of net earnings. Non-cash charges added back $3.3M of share-based compensation. Working capital and other items added $0.19B. Capital expenditures of $0.02B left free cash flow of $0.20B.
Questions
What was Global Partners LP's revenue in the second quarter 2025?
Global Partners LP (GLP) reported revenue of $4.6B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +0.8% from the quarter before.
Was Global Partners LP profitable in the second quarter 2025?
Operating profit was $60.1M (1.3% of revenue) and net earnings $25.2M.
Source: Global Partners LP 10-Q on SEC EDGAR.