Global Partners LP Reports Loss For Q2 - Quick Facts

(RTTNews) - Global Partners LP (GLP), a distributor of crude oil, natural gas and propane, Thursday reported loss for the second quarter, compared with profit last year, hurt by lower sales in wholesale segment.

For the three months to June, net loss totaled $13.75 million or $0.50 per share, compared with a profit of $4.06 million or $0.15 per share a year earlier.

On average, six analysts polled by Thomson-Reuters estimated the company's loss to be $0.10 for the quarter. Analysts' estimates typically exclude one-time items.

EBITDA totaled $19.1 million, compared with $32.6 million a year earlier.

Quarterly sales declined to $4.57 billion, from $4.77 billion last year, below the $4.91 billion Wall Street expected.

CEO Eric Slifka said the company is on track achieve its annual EBITDA guidance of $175 million to $195 million.