Operator: Good day, everyone, and welcome to the Global Partners . The energy company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.14, MarketWatch Earnings reports. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Selected profiles of other Operating Partners are also shown below. GLP Capital Partners LP operates as an investment management company. Interest expense was $19.7 million in the fourth quarter in both 2022 and 2021. Join to view profile GLP Capital Partners . Achieved total IT load capacity of ~1,400 MW in China. Get the full list, Morningstar Institutional Equity Research, Co-Founder, Chief Executive Officer and Senior Managing Director. Goldman Sachs Group Inc. now owns 193,521 shares of the energy companys stock worth $4,548,000 after acquiring an additional 57,422 shares during the last quarter. Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business. We are thrilled to have learned from the creativity of these bright minds. These filings (on Form N-PX) aren't due until 2024, but the first reporting period starts on July 1, 2023. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.69 . Now, Greg, Mark and I will be happy to take your questions. The fund was oversubscribed at its hard-cap at $1.5 billion, thus making it the the largest self-storage vehicle ever raised. http://ow.ly/x8QN50MJ7X4 We are thrilled to announce our new structure as a dedicated global alternative asset manager focused on investing in high-growth, new economy sectors. The increases for the quarter and full year of 2022 were primarily driven by our Wholesale and GDSO segments. The gasoline distribution contribution to product margin was up $36.2 million to $155.9 million, primarily due to higher fuel margin and an increase in volumes sold, partially due to our recent acquisitions. All Rights Reserved. The company announced the . Operator: Good day, everyone, and welcome to the Global Partners Fourth Quarter 2022 Financial Results Conference Call. Global Partners LP (NYSE:GLP) Q4 2022 Earnings Call Transcript February 27, 2023. This years Innovation Summit featured finalists selected by the Earthshot council in addition to panelist speakers from heads of state, grassroots organizations and tech leaders. I lead the legal strategy on major transactions and coordinate our dedicated team of external counsel. What does this mean for CRE professionals? 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. Product margin from crude oil was negative $2.7 million for the fourth quarter, down $0.5 million from a year earlier. 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. Exclusive discounts on ALM and GlobeSt events. Contacts Dafna Tapiero dtapiero@laurelstrategies.com 202-776-7776 GLP. GLP invested in Li & Fung to help execute on its Logistics/Assets-as-a-Service approach, which uses data analytics and technologies to bring value to customers. The energy company reported $1.54 earnings per share (EPS) for the quarter, beating analysts consensus estimates of $1.40 by $0.14. Our combined global experience and expertise allow us to build businesses create value for our partners Sep 2022 - Present7 months. He received his Bachelor of Science in Finance from Indiana University School of Business. 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. People and culture are core to GLPs business and its global success. We believe these assumptions are reasonable given currently available information. Chief Operating Officer at GLP Capital Partners Englewood, Colorado, United States 1K followers 500+ connections Join to connect GLP Capital Partners (GCP) Activity Congratulations Karolina. 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. Catherine is a highly experienced active portfolio manager with a career spanning more than 25 years. GCP is focused on uncovering advantaged opportunities in logistics real. GLP Capital Partners Scores $64M Construction Loan For Doral Logistics Project As demand outpaces supply in South Florida's industrial market, GLP Capital Partners scored a $64.2 million construction loan for a new logistics park in Doral, The Real Deal has learned. REGISTRATION STATUS . LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and (except on the iOS app) to show you relevant ads (including professional and job ads) on and off LinkedIn. The top 5 finals presented their entries and an awards presentation in November. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. Looking at the Wholesale segment for the fourth quarter of 2022, product margin increased $38.1 million to $70.7 million. The increases for the quarter and full year of 2022 were primarily driven by our Wholesale and GDSO segments. Several other hedge funds have also made changes to their positions in GLP. Copyright 2020 GLP. This documentary-style series follows investigative journalists as they uncover the truth. As a group, equities analysts expect that Global Partners LP will post 3.2 earnings per share for the current fiscal year. How is GLP related to GLP Capital Partners? The increases for the quarter and full year of 2022 were primarily driven by our Wholesale and GDSO segments. Our sites are strategically located along the "dorsale" logistics corridor and offer customers access to United Kingdom's biggest population centers and sea ports. Receive News & Ratings for Global Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Partners and related companies with MarketBeat.com's FREE daily email newsletter. We believe in empowering people to be entrepreneurial, growth-focused and passionate about being the best. GLP Capital Partners announces new structure as dedicated global alternative asset manager focused on investing in high-growth, new economy sectors - GLP Capital Partners Excluding the net gain on the sale of assets, TTM distribution coverage was 2.8x or 2.6x after factoring in distributions to our preferred unitholders. GLP has been growing its data centers business since 2018, with a focus on sustainability, safety and the community. View contacts for GLP Capital Partners to access new leads and connect with decision-makers. We believe in empowering people to be entrepreneurial, growth-focused and passionate about being the best. "Institutional investment manager" isn't really what it sounds like: the term comes from 13F filings and includes unregistered and/or non-U.S. managers and even some entities that don't consider themselves managers at all -- the terms includes entities that exercise "investment discretion" over U.S.-listed securities and related options and warrants with an aggregate value of at least USD 100 million. 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. The entity was formed on January 15, 2020 in the jurisdiction of Delaware. The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. 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. With that, now let me turn the call over to Greg for his financial review. This consists of $153.4 million under our $1.1 billion working capital revolving credit facility and $99 million under our $450 million revolving credit facility at 12/31/22. Bloomberg Daybreak Asia. Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Partners LP (NYSE:GLP Get Rating). 77 % of GDP 55 % of global population 66 Offices 17 Countries The History of GLP Frequently Asked Questions Is GLP a private company? We also are focused in investing and partnering with companies where we can play a strategic role in building their business and invest in both established and growth-stage businesses across logistics, real estate, infrastructure, finance and related technologies. It specializes in acquisitions, development, operations, technology, and e-commerce. GLP Capital Partners serves institutions such as pension funds, sovereign wealth funds, and endowments worldwide. Institutional investors and hedge funds own 28.40% of the companys stock. Angel, Fund of Funds, Venture Capital), General contact email for the organization. Our #pwcrealestate Tax Service News summarizes the new legislation and gives an update of the currently applicable RETT rates at chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://lnkd.in/eNUEvkYH, Chief Human Resources Officer at GLP Capital Partners (GCP), Thrilled indeed! Following their record-breaking $18.7 billion sale of the GLP U.S. portfolio in 2019, the team launched GCP as an independent investment manager alongside Modlo, its wholly-owned logistics real estate company. The firm had revenue of $4.43 billion during the quarter, compared to analysts expectations of $4.51 billion. Global Robotics Services We are pleased to provide a new innovative platform for customers constantly seeking to improve the productivity of their logistics . The increases in the quarter and the full year were in part due to increases in accrued discretionary incentive compensation and wages and benefits. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.51 billion. 10x harder to hold good investments, Managing Director, Head of GC&SEA&Australia, We are thrilled to collaborate with Crow Holdings, a US-based real estate investment manager. GLP Capital Partners (GCP) is a registered investment adviser with over $5 billion in assets under management (AUM). Gregory Hanson: Thank you, Eric, and good morning, everyone. GLP is a privately owned company incorporated in Singapore. Strategic HR generalist educated to masters level and experienced in supporting commercial businesses by delivering HR processes and tools. Boston Properties. 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. Glassdoor gives you an inside look at what it's like to work at GL Capital Partners, including salaries, reviews, office photos, and more. 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. Shares of NYSE GLP opened at $34.99 on Friday. Where is GLP located? Sign In Now, Blackstone REIT Keeps Bleeding Despite Infusion of Liquidity. Annaly Capital Management. We operate across Asia, Europe, and the Americas. Station operations product margin was $267.9 million for the full year 2022, up $34 million from 2021. GLPs strategy is to make private equity investments in businesses and technologies that complement our core logistics real estate business and other high-growth sectors of the economy. Globally, CMC ranked 27th with US$19.1B raised between 1 January 2016 and 31 March 2021. Leverage, which is defined in our credit agreement as funded debt-to-EBITDA was approximately 1.74x at the end of the fourth quarter. Bank of America Corp DE now owns 90,092 shares of the energy companys stock worth $2,457,000 after acquiring an additional 15,360 shares during the last quarter. Adjusted EBITDA for the fourth quarter of 2022 was $106.9 million, compared with $66 million for the same period in 2021. GLPGCP GLP Capital Partners ""46 1250 . Gasoline Distribution contributed $588.7 million of product margin for the full year, up $175 million from 2021. Los Angeles, CA Prologis 3 years 7 months Investment Director Prologis Nov 2020 - Oct . GLP Capital Partners announces new structure as dedicated global alternative asset manager focused on investing in high-growth, new economy sectors Read More GLP Enters Japan's Data Center Market, Targeting 900 MW Power Capacity StockNews.com lowered Global Partners from a strong-buy rating to a buy rating in a report on Tuesday. Eric Slifka: Thank you, Greg. GLP Capital Partners is the exclusive investment and asset manager of GLP. Turning to the Commercial segment. As part of our work in the clean fuel space, we formed an interdisciplinary team to research and evaluate hydrogen mobility supply and distribution opportunities. Address: 100 Wilshire Blvd Ste 1400 Santa Monica, CA, 90401-1196 United States See other locations Phone: Website: www.glpcp.com Employees (this site): Modelled Employees (all sites): Modelled Revenue: Modelled Year Started: Unlock full sales materials and reports Contacts Get in Touch with 1 Principals* and 4 Contacts Adam Burnes Principal As General Counsel & Chief Administrative Officer I sit on the GLP Europe management team and am responsible for all legal, compliance, regulatory, risk management and governance matters in Europe, as well as Marketing & Communications. It operates through the following business segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. Fuel margins increased $0.07 per gallon to $0.37 from $0.30 per gallon in the fourth quarter of 2021. Operator? Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. 304917 Latest Filing 26 Aug 2022 SEC No. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. Already have an account? I manage the legals on acquisitions, dispositions . This Q4 retail quarterly index report reveals how economic headwinds impacted key retail CRE categories during the critical holiday shopping season, and what their performance tells us about consumer behavior and brick-and-mortar retail in the year ahead. Purchased by MetLife Investment Management LLC. Asian industrial giant GLP on Tuesday unveiled GLP Capital Partners, a newly minted fund management business investing in sectors including Liked by Haijin Zeng Terry We are thrilled to announce our new structure as a dedicated global alternative asset manager focused on investing in high-growth, new economy The energy . Now let me turn the call back to Eric for closing comments. To help us understand those needs and envision the fueling infrastructure of the future, we sponsored Fuel of the Future 2030, a student design competition engaging more than 30 teams of undergraduate and graduate students attending schools across nine states. Global Partners ( NYSE:GLP - Get Rating) last issued its quarterly earnings data on Monday, February 27th. GLP Capital Partners (GCP) is planning to raise $2bn (1.6bn) for its value-add US industrial fund GLP Capital Partners IV, according to sources. GLP Capital Partners, a global alternative asset manager with approximately $125 billion in assets under management, is the exclusive investment and asset manager of GLP. 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. Today's call will include forward-looking statements within the meaning of Federal securities laws. Pallas Capital Advisors LLC now owns 1,382,449 shares of the energy companys stock worth $46,312,000 after purchasing an additional 36,458 shares in the last quarter. Stockholders of record on Wednesday, February 8th were issued a $1.572 dividend. 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. Sovereign Investor Leadership Conference March 2023 Menu As an early mover who saw the potential in building a smart logistics ecosystem ahead of its time, Hidden Hill Capital has, since 2018, invested RMB 6 billion in more than 50 companies in the fields of digital supply chain and logistics technology such as modern logistics service systems and food supply chains.