Filing Flows › Global Partners LP (GLP) › Q2 2026 › vs Q2 2025
Global Partners LP (GLP) Q2 2026 vs Q2 2025 (year over year)
Global Partners LP's revenue rose $2.2B (+47%) from $4.6B in Q2 2025 to $6.8B in Q2 2026. The biggest changes: Wholesale segment +$1.7B (+55%); GDSO +$334M (+27%); Commercial segment +$94.3M (+34%). Gross margin 4.8% against 5.9% (-1.0 pts).
Global Partners LP, Q2 2026: revenue $6.8B (+47% year over year), operating margin 1.6%, net earnings $71.0M, operating cash flow $309M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 4.8% | 5.9% | -1.0 pts |
| Operating margin | 1.6% | 1.3% | +0.3 pts |
| Net margin | 1.0% | 0.5% | +0.5 pts |
| Free cash flow margin | 4.0% | 4.3% | -0.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Wholesale segment | $4.9B | $3.1B | $1.7B | +55% |
| GDSO | $1.6B | $1.2B | $334M | +27% |
| Commercial segment | $370M | $276M | $94.3M | +34% |
| Revenue | $6.8B | $4.6B | $2.2B | +47% |
| Gross profit | $329M | $272M | $56.6M | +21% |
| Cost of revenue | $6.5B | $4.4B | $2.1B | +48% |
| Operating profit | $107M | $60.1M | $47.3M | +79% |
| Operating expenses | $222M | $212M | $9.3M | +4% |
| Pre-tax earnings | $76.3M | $25.1M | $51.2M | +204% |
| Other expense, net | $31.1M | $35.0M | −$3.9M | -11% |
| SG&A | $83.0M | $74.8M | $8.3M | +11% |
| Other operating costs | $139M | $138M | $1.0M | +0.7% |
| Net earnings | $71.0M | $25.2M | $45.8M | +182% |
| Income tax | $5.3M | −$112K | $5.4M | — |
| Share-based compensation | $5.8M | $3.3M | $2.4M | +73% |
| Working capital & other | $233M | $188M | $44.9M | +24% |
| Operating cash flow | $309M | $216M | $93.1M | +43% |
| Free cash flow (OCF − capex) | $274M | $201M | $73.2M | +36% |
| Capital expenditures | $35.0M | $15.1M | $19.9M | +132% |
Questions
How much did Global Partners LP's revenue grow year over year in Q2 2026?
Global Partners LP's revenue rose $2.2B (+47%) from $4.6B in Q2 2025 to $6.8B in Q2 2026.
What drove Global Partners LP's revenue change in Q2 2026?
Wholesale segment +$1.7B (+55%); GDSO +$334M (+27%); Commercial segment +$94.3M (+34%).