Filing Flows › Global Partners LP (GLP) › Q3 2026 › vs Q3 2025
Global Partners LP (GLP) Q3 2026 vs Q3 2025 (year over year)
Global Partners LP's revenue rose $2.0B (+42%) from $4.7B in Q3 2025 to $6.7B in Q3 2026. The biggest changes: Wholesale segment +$1.6B (+52%); GDSO +$310M (+24%); Commercial segment +$58.0M (+19%). Gross margin 4.4% against 5.8% (-1.4 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 4.4% | 5.8% | -1.4 pts |
| Operating margin | 1.3% | 1.3% | -0.1 pts |
| Net margin | 0.8% | 0.6% | +0.2 pts |
| Free cash flow margin | 2.1% | 0.0% | +2.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Wholesale segment | $4.7B | $3.1B | $1.6B | +52% |
| GDSO | $1.6B | $1.3B | $310M | +24% |
| Commercial segment | $356M | $298M | $58.0M | +19% |
| Revenue | $6.7B | $4.7B | $2.0B | +42% |
| Gross profit | $296M | $271M | $24.6M | +9% |
| Cost of revenue | $6.4B | $4.4B | $2.0B | +44% |
| Operating profit | $83.7M | $61.4M | $22.3M | +36% |
| Operating expenses | $212M | $210M | $2.3M | +1% |
| Pre-tax earnings | $53.2M | $28.6M | $24.6M | +86% |
| Other expense, net | $30.5M | $32.8M | −$2.3M | -7% |
| SG&A | $79.3M | $76.3M | $3.1M | +4% |
| Other operating costs | $133M | $134M | −$719K | -0.5% |
| Net earnings | $52.4M | $29.0M | $23.3M | +80% |
| Income tax | $800K | −$447K | $1.2M | — |
| Share-based compensation | $4.6M | $3.4M | $1.2M | +36% |
| Working capital & other | $123M | −$13.4M | $136M | — |
| Operating cash flow | $180M | $19.0M | $161M | +845% |
| Free cash flow (OCF − capex) | $138M | −$678K | $139M | — |
| Capital expenditures | $41.9M | $19.7M | $22.2M | +112% |
Questions
How much did Global Partners LP's revenue grow year over year in Q3 2026?
Global Partners LP's revenue rose $2.0B (+42%) from $4.7B in Q3 2025 to $6.7B in Q3 2026.
What drove Global Partners LP's revenue change in Q3 2026?
Wholesale segment +$1.6B (+52%); GDSO +$310M (+24%); Commercial segment +$58.0M (+19%).