Global Partners Increases Sales but Misses Estimates on Earnings

Global Partners (NYS: GLP) reported earnings on Nov. 8. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Global Partners crushed expectations on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share expanded significantly.

Margins increased across the board.

Revenue details
Global Partners logged revenue of $4.62 billion. The three analysts polled by S&P Capital IQ foresaw net sales of $3.74 billion on the same basis. GAAP reported sales were 23% higher than the prior-year quarter's $3.77 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.24. The four earnings estimates compiled by S&P Capital IQ anticipated $0.36 per share. GAAP EPS of $0.24 for Q3 were 200% higher than the prior-year quarter's $0.08 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 1.8%, 50 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 0.1%, 10 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $3.62 billion. On the bottom line, the average EPS estimate is $0.48.

Next year's average estimate for revenue is $15.22 billion. The average EPS estimate is $1.35.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 140 members out of 148 rating the stock outperform, and eight members rating it underperform. Among 32 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 31 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 $24.75.

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The article Global Partners Increases Sales but Misses Estimates on Earnings originally appeared on Fool.com.

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 ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. TMFDisclosureHere

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