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Global Partners LP Message Board

  • Global Partners LP, a company engaged in the wholesale and commercial distribution of refined petroleum products and natural gas, has reported that net income for the third quarter ended September 30, 2011 was $1.86 million, or $0.08 per diluted unit, compared to $551,000, or $0.03 per diluted unit, for the third quarter ended September 30, 2010.

    Sales for the third quarter of 2011 were $3.76 billion, compared to $1.55 billion for the corresponding period of 2010.

    Net income for the first nine months ended September 30, 2011 was $9.3 million, or $0.41 per diluted unit, compared to $21.09 million, or $1.28 per diluted unit, for the first nine months ended September 30, 2010.

    Sales for the first nine months ended September 30, 2011 were $10.73 billion, compared to $5.05 billion for the first nine months ended September 30, 2010.

    "We generated better-than-expected earnings in the third quarter, in part from the strong performance of our Mobil assets, which contributed to record Q3 gross profit and product volume," said Eric Slifka, the Partnership's President and CEO. "Due to the contribution of gasoline and blendstock volumes, combined product volume grew by 66% to a third-quarter record 1.3 billion gallons from 770 million gallons in the third quarter of 2010."

 
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