Full-Time
Midstream petroleum logistics and energy marketing
$21.50 - $24.71/hr
Danbury, CT, USA
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Global Partners LP operates midstream energy logistics and marketing assets. It owns and runs terminals and fueling locations, and buys, sells, and transports petroleum and renewable fuels. It is organized into three segments: Wholesale (logistics and handling of gasoline, distillates, renewable fuels, crude, propane), Gasoline Distribution and Station Operations (distribution to stations and end-users and operation of stations and convenience stores), and Commercial (sale and delivery of unbranded fuels to commercial and residential customers). The company generates revenue from product sales and fees for logistics services, serving gasoline stations, commercial/residential clients, and government agencies, primarily in the Northeast U.S. Its goal is to provide reliable energy logistics and fuel distribution by maintaining a network of terminals and fueling locations, offering integrated supply chain services, and expanding its assets and services in energy marketing.
Company Size
51-200
Company Stage
IPO
Headquarters
Waltham, Massachusetts
Founded
1933
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401(k) Company Match
401(k) Retirement Plan
Professional Development Budget
Paid Vacation
Global Partners operates a larger integrated energy business spanning fuel wholesaling, fuel logistics, gasoline stations and renewable fuels. The partnership reported second-quarter adjusted EBITDA of $119 million, more than double CrossAmerica's figure, whilst maintaining lower leverage at 2.8 times. Global Partners trades at a cheaper valuation despite its larger scale and stronger balance sheet. However, its distribution yield of around 8% trails CrossAmerica's 9%-plus yield. CrossAmerica Partners delivered stronger recent operating momentum, with second-quarter adjusted EBITDA rising 40% year-over-year to $51.8 million. Its distribution coverage ratio improved to 1.68 times from 1.12 times, providing better support for its quarterly distribution of $0.525 per unit. The main risk facing CrossAmerica is weakening fuel demand. Retail fuel volumes fell 12% and wholesale volumes dropped 11% in the latest quarter, pressured by higher pump prices and contract losses.
Three oil and gas master limited partnerships are offering dividend yields exceeding 5% whilst generating stronger distributable cash flow, making them attractive for income-focused investors. CrossAmerica Partners offers a 9% yield with quarterly distributions of $0.53 per unit. The wholesale fuel distributor and convenience-store operator saw Q2 adjusted EBITDA jump 40% year-over-year to $51.8 million, whilst distributable cash flow surged 50% to $33.6 million. Its distribution coverage ratio improved to 1.68X from 1.12X. Delek Logistics Partners provides an 8% yield following its 54th consecutive quarterly distribution increase. The pipeline and terminal operator reported Q2 adjusted EBITDA of $143.5 million, up from $127.4 million, with adjusted distributable cash flow rising 11% to $80.5 million. Global Partners also features amongst the three MLPs, with yields ranging from 6% to 9% across all three companies.
Global Partners saw significant trading in its December 2026 call options, ranking amongst the highest implied volatility contracts in the equities market. The activity coincides with the partnership's Zacks Rank #1 rating in the Oil and Gas – Refining and Marketing MLP sector. The company reported first-quarter 2026 sales of $5.32 billion and net income of $64.74 million. However, investors face questions around the sustainability of distributions and cash flow resilience amid capital spending and energy transition risks. Global Partners' narrative projects $42.5 billion in revenue and $168.5 million in earnings by 2029, with a fair value estimate of $45.50. Community valuations range from $45.50 to $103.23, reflecting divergent views on the fuel-focused business facing long-term energy transition challenges and potential regulatory pressures on margins.
Global Partners LP reported strong Q1 2026 results driven by commodity price volatility and favourable market conditions. Fuel margins in the GDSO segment expanded to 41 pence per gallon, whilst the wholesale segment saw a $60.5 million increase in product margin from improved dynamics in gasoline blendstocks and distillates. The company maintained a 3.1x leverage ratio and announced its 18th consecutive quarterly distribution increase. Full-year 2026 maintenance capital expenditure is projected between $60 million and $70 million, with expansion expenditure targeted at $75 million to $85 million. Management expects steep backwardation in forward pricing curves to increase hedged inventory costs. Low PADD 1 inventory levels heading into summer driving season present operational risks. The company plans increased convenience store promotions to counter higher gasoline prices affecting consumer spending.
Global Partners LP shares rose 6.4% on Friday after reporting first-quarter adjusted earnings of $1.85 per unit, significantly exceeding the $0.33 consensus estimate. Revenue totalled $5.32 billion, up 15.8% year-over-year, though below analyst expectations of $6.97 billion. Adjusted EBITDA climbed to $140.4 million from $91.3 million, whilst adjusted distributable cash flow nearly doubled to $96.8 million from $46.5 million. The energy partnership's wholesale division drove results, with product margin increasing to $154.1 million from $93.6 million, benefiting from favourable gasoline and residual oil markets. The gasoline distribution segment also posted margin growth. Global Partners declared a quarterly distribution of $0.7650 per unit, payable 15 May to unitholders of record on 11 May.