Filing Flows › Global Partners LP (GLP) › Q3 2026 › vs Q2 2026
Global Partners LP (GLP) Q3 2026 vs Q2 2026 (quarter over quarter)
Global Partners LP's revenue fell $108M (-2%) from $6.8B in Q2 2026 to $6.7B in Q3 2026. The biggest changes: Wholesale segment −$129M (-3%); GDSO +$35.9M (+2%); Commercial segment −$14.3M (-4%). Gross margin 4.4% against 4.8% (-0.4 pts).
Global Partners LP, Q3 2026: revenue $6.7B (+42% year over year), operating margin 1.3%, net earnings $52.4M, operating cash flow $180M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 4.4% | 4.8% | -0.4 pts |
| Operating margin | 1.3% | 1.6% | -0.3 pts |
| Net margin | 0.8% | 1.0% | -0.3 pts |
| Free cash flow margin | 2.1% | 4.0% | -2.0 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Wholesale segment | $4.7B | $4.9B | −$129M | -3% |
| GDSO | $1.6B | $1.6B | $35.9M | +2% |
| Commercial segment | $356M | $370M | −$14.3M | -4% |
| Revenue | $6.7B | $6.8B | −$108M | -2% |
| Gross profit | $296M | $329M | −$33.0M | -10% |
| Cost of revenue | $6.4B | $6.5B | −$74.7M | -1% |
| Operating profit | $83.7M | $107M | −$23.7M | -22% |
| Operating expenses | $212M | $222M | −$9.3M | -4% |
| Pre-tax earnings | $53.2M | $76.3M | −$23.1M | -30% |
| Other expense, net | $30.5M | $31.1M | −$588K | -2% |
| SG&A | $79.3M | $83.0M | −$3.7M | -4% |
| Other operating costs | $133M | $139M | −$5.6M | -4% |
| Net earnings | $52.4M | $71.0M | −$18.6M | -26% |
| Income tax | $800K | $5.3M | −$4.5M | -85% |
| Share-based compensation | $4.6M | $5.8M | −$1.2M | -21% |
| Working capital & other | $123M | $233M | −$110M | -47% |
| Operating cash flow | $180M | $309M | −$130M | -42% |
| Free cash flow (OCF − capex) | $138M | $274M | −$137M | -50% |
| Capital expenditures | $41.9M | $35.0M | $6.9M | +20% |
Questions
How much did Global Partners LP's revenue grow quarter over quarter in Q3 2026?
Global Partners LP's revenue fell $108M (-2%) from $6.8B in Q2 2026 to $6.7B in Q3 2026.
What drove Global Partners LP's revenue change in Q3 2026?
Wholesale segment −$129M (-3%); GDSO +$35.9M (+2%); Commercial segment −$14.3M (-4%).