The 10-second takeaway
For the quarter ended March 31 (Q1), Global Partners beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Global Partners booked revenue of $3.98 billion. The four analysts polled by S&P Capital IQ predicted a top line of $3.65 billion on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $3.55 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 -$0.06. The three earnings estimates compiled by S&P Capital IQ forecast $0.26 per share. GAAP EPS were -$0.06 for Q1 compared to $0.39 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 1.4%, 20 basis points worse than the prior-year quarter. Operating margin was 0.2%, 30 basis points worse than the prior-year quarter. Net margin was 0.0%, 20 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $4.20 billion. On the bottom line, the average EPS estimate is $0.07.
Next year's average estimate for revenue is $16.12 billion. The average EPS estimate is $1.10.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 137 members out of 144 rating the stock outperform, and seven members rating it underperform. Among 27 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Global Partners a green thumbs-up, and one gives 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 $23.67.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.