The 10-second takeaway
For the quarter ended June 30 (Q2), Global Partners beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share increased.
Margins expanded across the board.
Global Partners reported revenue of $3.92 billion. The three analysts polled by S&P Capital IQ expected to see revenue of $3.62 billion on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $3.41 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 $0.66. The two earnings estimates compiled by S&P Capital IQ predicted $0.32 per share. GAAP EPS were $0.66 for Q2 against -$0.04 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 2.3%, 100 basis points better than the prior-year quarter. Operating margin was 0.7%, 50 basis points better than the prior-year quarter. Net margin was 0.5%, 50 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $4.33 billion. On the bottom line, the average EPS estimate is $0.59.
Next year's average estimate for revenue is $15.84 billion. The average EPS estimate is $1.10.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 141 members out of 149 rating the stock outperform, and eight members rating it underperform. Among 28 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 27 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 $23.75.
- Add Global Partners to My Watchlist.