Filing Flows › Global Partners LP (GLP) › Q3 2025
Global Partners LP (GLP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Global Partners LP (GLP) reported revenue of $4.7B for the third quarter 2025 (Q3 2025), +6% from a year earlier and +1% from the quarter before. Operating margin was 1.3%, net earnings $29.0M (0.6% of revenue).
Global Partners LP, Q3 2025: revenue $4.7B (+6% year over year), operating margin 1.3%, net earnings $29.0M, operating cash flow $19.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.7B | +1% | +6% |
| Gross profit | $271M | -0.4% | -5% |
| Operating profit | $61.4M | +2% | -26% |
| Net earnings | $29.0M | +15% | -37% |
| Operating cash flow | $19.0M | -91% | -84% |
What changed
Revenue was $4.7B in Q3 2025, up 6% year over year and up 1% from the previous quarter. Wholesale segment was the largest line at 66% of revenue. Wholesale segment added $0.39B year over year (up 14%), 145% of the total change. GDSO declined 10%.
Gross margin was 5.8%, down 0.7 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 $0.27B versus a year earlier, so costs grew faster than sales. Operating expenses grew 4% against revenue growth of 6%. Net earnings were $0.03B, down 37% year over year. The effective tax rate was -1.6%.
Operating cash flow was $0.02B (down 84% year over year), 66% of net earnings. Non-cash charges added back $3.4M of share-based compensation. Working capital and other items used $0.01B. Capital expenditures of $0.02B exceeded it, leaving free cash flow of −$678K.
Questions
What was Global Partners LP's revenue in the third quarter 2025?
Global Partners LP (GLP) reported revenue of $4.7B for the third quarter 2025 (Q3 2025), +6% from a year earlier and +1% from the quarter before.
Was Global Partners LP profitable in the third quarter 2025?
Operating profit was $61.4M (1.3% of revenue) and net earnings $29.0M.
Source: Global Partners LP 10-Q on SEC EDGAR.