Global Partners LP (GLP) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to the Sunoco LT's first quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Scott Krischel, Senior Vice President, Finance and Treasures. Thank you, sir. You may begin. Thank you, and good morning, everyone. On the call with me this morning are Joe Kim, Sunoco LP's president and chief executive officer, Carl Fales, chief operating officer, Austin Harkness, chief commercial officer, and Dylan Bramhall, chief financial officer. Today's call will contain forward-looking statements that include expectations and assumptions regarding the partnership's future operations and financial performance. Actual results could differ materially, and the partnership undertakes no obligation to update these statements based on subsequent events. Please refer to our earnings release as well as our filings with the SEC for a list of these factors. During today's call, we will also discuss our non-GAAP financial measures, including adjusted EBITDA and distributable cash flow as adjusted. Please refer to the Sunoco LP website for reconciliation of each financial measure. Before I begin my remarks on the first quarter results, I want to start with the announcement we made yesterday that Sunoco will be acquiring Parkland Corporation in a cash and equity transaction valued at approximately $9.1 billion. We expect to close in the second half of 2025, subject to customary closing conditions and other regulatory clearance. On today's call, we woul...