Global Partners LP (NYSE: GLP) Q4 2022 Earnings Call Transcript February 27, 2023. Growth Strategy with GLP Group Leveraging GLP Group's expertise in managing logistics facilities to the greatest extent possible, GLP J-REIT will work to maximize unitholder value through our best-in-class (highest level) asset management, which is esteemed in Japan and around the world. The value-add fund will invest into the logistics sector. Read more about GLP Capital Partners. This is a boost from Global Partnerss previous quarterly dividend of $0.63. Our focus is on maintaining a small company identity with an entrepreneurial mindset to continue our growth trajectory. December 08, 2021 05:30 PM. Crow Holdings Capital consists of a cycle-tested team with a long history of investing in its flagship value-add fund series and will provide LPs access to a diversified portfolio of assets across the industrial, multifamily, and specialty sectors. Los Angeles City Employees' Retirement System, Youre viewing 5 of 6 limited partners. From incubating new businesses to efficiently operating assets, we take a strategic and innovative approach to growth and value creation. GLP is owned by GLP Holdings LP which is controlled by management and a group of institutional investors. Full year 2022 net income increased to $362.2 million from $60.8 million in the prior year. Global Partnerss dividend payout ratio is 25.32%. In addition, in the fourth quarter, we incurred an expense of approximately $7.5 million in connection with an ongoing dispute between us and a landlord at certain of our sites, which we are currently disputing. StockNews.com lowered Global Partners from a strong-buy rating to a buy rating in a report on Tuesday. As we continue to invest in optimizing our sites with an eye towards sustainability, we know that the drivers of tomorrow will have different expectations and needs than the drivers of today. Brookfield Property Partners. 2022 was an exceptionally strong year for Global, reflecting the dedication of our incredible team, our vertically integrated assets, adaptable operating model and strong balance sheet position us well for the year ahead. Leverage, which is defined in our credit agreement as funded debt-to-EBITDA was approximately 1.74x at the end of the fourth quarter. The increases were largely associated with our GDSO operations, including our recent acquisitions, reflecting higher credit card fees related to increases in volume and price, higher salary and rent expenses, partially due to greater activity at our stores and increases in our environmental reserve and maintenance and repair expenses. Thank you for joining us. Global Partners LP has a 1-year low of $20.23 and a 1-year high of $39.24. How is GLP related to GLP Capital Partners? Get the full list, To view GLP Capital Partners IVs complete team members history, request access, Youre viewing 5 of 428 funds. The Wholesale segment sells branded and unbranded gasoline and gasoline blendstocks and diesel to wholesale distributors. GDSO product margin was up $46.1 million in the quarter to $223.2 million. He is also an investor and board member of Value Retail China, a company that specializes in the development and operation of luxury outlet shopping villages. As of December 31, 2022, total borrowings outstanding under the credit agreement were $252.4 million. GCP Capital Partners - Home Investing in Firms with Significant Potential Seasoned private equity professionals making both control and influential minority investments in high-growth and select cyclical-growth industries Operator? Americold. Issuer: GLP Capital, L.P. Debt Level: senior unsecured Issue: USD 975 mln 5.375% bond/note 28-Apr-2026. For full year 2023, we expect maintenance capital expenditures in the range of $50 million to $60 million; and expansion capital expenditures, excluding acquisitions, in the range of $55 to $65 million, relating primarily to investments in our gasoline station business. Los Angeles-based GCP was established in 2019 by the team that is responsible for the largest private real estate transaction in history. Scott Solomon, SVP Sharon Merrill Associates, Inc. 501 Boylston Street, 10th Floor Boston, MA 02116. GCP: Versatile strategy critical to deployment in US logistics Having a flexible deployment strategy and an enhanced focus on operations and asset management helps investors navigate an increasingly competitive market, say GLP Capital Partners' Adam Berns and Steve Crowe. For the first time, "institutional investment managers" have to disclose how they're voting proxies on their (or their clients') holdings of US-listed securities with respect to executive compensation matters. Watch our brand video Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Sold by Shell Asset Management Co. Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Sold by Shell Asset Management Co. New Gold Inc. (NYSEAMERICAN:NGD) Shares Sold by Shell Asset Management Co. Happy to be at the ETF conference in Miami sharing our story! Turning to our distribution. Today's call is being recorded. Net income was $57.5 million for the fourth quarter of 2022 compared with $19.3 million for the same period in 2021. GLP is the largest shareholder of GLP Capital Partners. The fund was oversubscribed at its hard-cap at $1.5 billion, thus making it the the largest self-storage vehicle ever raised. Markets never sleep, and neither does Bloomberg. Purchased by MetLife Investment Management LLC. CapEx in the fourth quarter of 2022 was approximately $41 million, consisting of $26.6 million of maintenance CapEx and $14.4 million of expansion CapEx, the majority of which relates to our convenience stores. Property Logistics Specialist GLP Plans IPO for Investment Arm - WSJ News Corp is a global, diversified media and information services company focused on creating and distributing authoritative. During the same quarter in the previous year, the company earned $0.44 earnings per share. SEC / JURISDICTION. Contacts Dafna Tapiero dtapiero@laurelstrategies.com 202-776-7776 GLP. SG&A expenses increased $23 million in the fourth quarter to $80.8 million. Ming co-founded Eastern Bell Venture Capital and sits on various public and private boards. The fund is based in Santa Monica, California and invests in North America. View contacts for GLP Capital Partners to access new leads and connect with decision-makers. GLP Capital Partners of GCP has closed what it says is the largest discretionary closed-end fund focused on North American logistics real estate ever raised. By Francisco Alvarado. In December, we entered into a purchase agreement with Gulf Oil Limited partnership to acquire five of Gulf's refined product terminals for approximately $273 million in cash. Strategic HR generalist educated to masters level and experienced in supporting commercial businesses by delivering HR processes and tools. In addition to investing and managing third-party capital, we are the exclusive investment and asset manager of GLP. Li & Fung is a global leader in creating customized, end-to-end supply chain and logistics solutions to help brands and retailers respond quickly to evolving consumer and production trends. GLP Capital Partners Inc. (Entity # 20201040294) is a Foreign Corporation in Santa Monica, California registered with the Colorado Department of State (CDOS). Operating expenses increased $25.2 million to $118 million for the fourth quarter and $91.7 million to $445.3 million for the full year. Product margin from other oils and related products, which include distillates and residual oil, was up $48.5 million to $59.4 million, primarily due to more favorable market conditions in distillates. The distribution was paid on February 14 to unitholders of record as of the close of business on February 8. Crude oil product margin improved to a negative $9.4 million, up $3.4 million from a year earlier. On the EV front, our sustainability group welcomed and electric innovation strategist to evaluate, educate and guide our strategy in the electric space, including electric vehicle and charger market. With headquarters located around the world, we leverage our global and local market knowledge to create the most value for our investors and customers. We are committed to a broad range of ESG initiatives that elevate our business, create value for our stakeholders, support our employees and show respect to our local communities. 304917 Latest Filing 26 Aug 2022 SEC No. With us from Global Partners are President and Chief Executive Officer, Mr. Eric Slifka; Chief Financial Officer, Mr. Gregory Hanson; Chief Operating Officer, Mr. Mark Romaine; and Chief Legal Officer, Mr. Sean Geary. 332 followers 329 connections. For the full year, GDSO product margin was up $209 million to $856.6 million, with fuel margins increasing $0.09 per gallon to $0.36 from $0.27 per gallon in the year-earlier period. Our sites are strategically located along the "dorsale" logistics corridor and offer customers access to United Kingdom's biggest population centers and sea ports. Very excited to be on this journey with GCP! This report is available on our website, and I encourage you to review it. GLP Capital Partners is a global investment manager with a focus on modern logistics facilities and logistics-related operating companies. The increases for the quarter and full year of 2022 were primarily driven by our Wholesale and GDSO segments. Processes that used to be manual, such as dispatching, are now automated, allowing for much more precision and complexity, while predictive analytics and safety features mean fewer accidents. Global Partners LP (GLP) Stock Price, News, Quote & History - Yahoo Finance U.S. markets closed Dow Futures -65.00 (-0.39%) Global Partners LP (GLP) NYSE - Nasdaq Real Time Price.. 77 % of GDP 55 % of global population 66 Offices 17 Countries The History of GLP Frequently Asked Questions Is GLP a private company? Copyright 2020 GLP. Global Partners LP (NYSE:GLP) Q4 2022 Earnings Call Transcript February 27, 2023. Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Partners LP (NYSE:GLP Get Rating). GLP Capital Partners (GCP) has raised $2.3bn (1.9bn) for its North American logistics real estate fund. BNP Paribas Arbitrage SA increased its position in shares of Global Partners by 334.0% during the second quarter. GLP Capital Partners LP (GLP Capital Partners) is a Real Estate Company located in Santa Monica, CA United States, North America. The Earthshot Prize 2022 is a global prize designed to incentivize change and help to repair our planet by awarding five winners each year for their contributions to environmentalism. GLP Capital Partners LP - Company Profile and News - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Technology The only daily news program focused exclusively on technology, innovation and. The Los Angeles-based manager said the GLP Capital Partners IV fund exceeded its $2bn targetat final close. In January, the Board declared a fourth quarter cash distribution of $1.5725 per unit on all of our outstanding common units consisting of a quarterly distribution of $0.6350 per unit, $2.54 per unit on an annualized basis and a onetime special distribution of $0.9375 per common unit. Strategic Partners GLP forms strategic investment partnerships with companies that can bring about more opportunities and synergies with our core logistics real estate business globally and expand our investment scope further into adjacent segments. Join to view profile GLP Capital Partners . The retail fuel M&A pipeline remains very active and we continue to evaluate potential opportunities that align with our financial and operating objectives. The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Located in Connecticut, Maine, Massachusetts and New Jersey, the terminals have an aggregate storage capacity of approximately 3.9 million barrels in locations that complement our network by making us more competitive in multiple products over a larger geographic base. Global Partners undertakes no obligation to revise or update any forward-looking statements. It operates through the following business segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. Sign in or Register Sign in / Register Database LP search GP search Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Arlington Asset Investment. The fund targets logistics sector. Find More Contacts for GLP Capital Partners. While macroeconomic uncertainty remains, we continue to focus on driving returns for unitholders through a combination of organic growth, strategic acquisitions, optimization and innovation.

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