Global Partners LP (GLP) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hey, everyone, and welcome to the Global Partners second quarter, 2025 financial results conference call. Today's call is being recorded. All lines have been placed in a listen only mode with us from Global Partners, our president and chief executive officer, Mr. Eric Slipka, chief financial officer, Mr. Gregory Hansen, chief operating officer, Mr. Mark Romaine, and chief legal officer and secretary, Mr. Sean Geary. At this time, I'd like to turn the call over to Mr. Geary for opening remarks. Please go ahead, sir. Good morning, everyone, and thank you for joining us. Today's call will include forward-looking statements within the meanings of federal securities laws, including projections or expectations concerning the future, financial and operational performance of Global Partners. No assurances can be given that these projections will be attained or that these expectations will be met. Our assumptions and future performance are subject to a wide range of business risks, uncertainties and factors, which could cause actual results to differ materially, as described in our findings with the Securities and Exchange Commission. Global Partners undertakes no obligation to revise or update any forward-looking statements. Now, it's my pleasure to turn the call over to our president and chief executive officer, Eric Slipka. Thank you, Sean, and good morning, everyone. Global delivered strong second-quarter results in line with our expectations. These results reflect the strength of our integrated business and the value of staying focused on disciplined execution. Through the first half of 2025, we grew earnings and cash flow year over year, with net income increasing 8%, adjusted EBITDA increasing 7%, and adjusted DCF increasing 9% from the same period last year. That kind...