Global Partners Q2 Profit Down - Quick Facts

(RTTNews) - Global Partners LP (GLP) reported that its second-quarter limited partners' interest in net income was $7.90 million, or $0.29 per limited partner unit, compared to net income of $18.21 million, or $0.66 per limited partner unit, for the second quarter of 2012.

Sales for the second quarter of 2013 increased to $4.8 billion from $3.9 billion for the same period in 2012.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share and revenues of $5.43 billion for the quarter. Analysts' estimates typically exclude special items.

"Our second-quarter 2013 results were not as strong as the same period in 2012, primarily because of lower retail gasoline margins and a less favorable distillates market. In addition, weather conditions in the Bakken region delayed planned tank and pipeline expansion at and to our crude transload facilities in North Dakota," said Eric Slifka, the Partnership's President and Chief Executive Officer.

For full-year 2013, Global Partners now expects EBITDA in the range of $150 million to $175 million, including the Cascade Kelly Holdings acquisition completed in the first quarter of 2013.