The 10-second takeaway
For the quarter ended March 31 (Q1), Global Partners crushed expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. GAAP earnings per share grew.
Margins grew across the board.
Global Partners booked revenue of $5.59 billion. The three analysts polled by S&P Capital IQ predicted a top line of $4.23 billion on the same basis. GAAP reported sales were 41% higher than the prior-year quarter's $3.98 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.51. The four earnings estimates compiled by S&P Capital IQ predicted $0.45 per share. GAAP EPS were $0.51 for Q1 compared to -$0.06 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 1.7%, 30 basis points better than the prior-year quarter. Operating margin was 0.4%, 10 basis points better than the prior-year quarter. Net margin was 0.3%, 30 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $4.29 billion. On the bottom line, the average EPS estimate is $0.75.
Next year's average estimate for revenue is $18.49 billion. The average EPS estimate is $3.03.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 142 members out of 150 rating the stock outperform, and eight members rating it underperform. Among 35 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 34 give Global Partners a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Global Partners is hold, with an average price target of $37.00.
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