Lightning eMotors Secures $50 Million Pre-Paid Advance Agreement With Global Partners LP
May 25, 2023
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Global ($NYSE:GLP) Partners LP (NYSE: GLP) is a publicly traded master limited partnership based in Waltham, Massachusetts. It is one of the largest independent owners, suppliers and operators of gasoline and convenience store businesses in the United States. Over the years, Global Partners LP has grown to become a leading energy provider for retail and wholesale markets in both the US and Canada. The partnership recently made news when it was announced that it had secured a pre-paid advance of $50 million from Yorkville Advisors Global L.P. for its subsidiary, Lightning eMotors. This financing will allow Lightning eMotors to continue to manufacture, develop, and market trucks that are powered by electric battery energy.
As part of this agreement, Lightning eMotors also gains access to Global Partners’ extensive network of fuel and convenience store distributors across the United States and Canada. This will help Lightning eMotors expand its customer base and increase its presence in both countries. Overall, this agreement is an excellent way for Global Partners LP to invest in a rapidly growing sector while also providing Lightning eMotors with the capital it needs to succeed. This agreement could provide a major boost to both companies as they look to capitalize on the growing demand for electric vehicles.
Share Price
On Thursday, GLOBAL PARTNERS LP, the largest midstream and downstream energy logistics provider in North America, reported an impressive stock performance. The company opened at $31.2 and closed at $31.9, a 2.3% increase from the previous closing price. This was in response to the news that Lightning eMotors, an electric vehicle company, had secured a $50 million pre-paid advance agreement with GLOBAL PARTNERS LP. This agreement marks a major milestone for both companies, as it represents a significant investment in electric vehicle technology by GLOBAL PARTNERS LP and is likely to spur further growth for both companies. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for GLP. More…
| Total Revenues | Net Income | Net Margin |
| 18.41k | 339.16 | 1.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for GLP. More…
| Operations | Investing | Financing |
| 438.04 | -41.46 | -400.35 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for GLP. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.92k | 2.17k | 22.34 |
Key Ratios Snapshot
Some of the financial key ratios for GLP are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.2% | 44.0% | 2.5% |
| FCF Margin | ROE | ROA |
| 1.8% | 37.0% | 9.8% |
Analysis
GoodWhale conducted an analysis of GLOBAL PARTNERS LP’s financials, and the findings were very favorable. According to Star Chart, GLOBAL PARTNERS LP scored an impressive 8/10 in terms of health score, indicating that it has strong cashflow and debt capabilities and is capable of sustaining future operations in times of crisis. We classify GLOBAL PARTNERS LP as a ‘Cheetah’ company, a classification we give to companies with high revenue or earnings growth but lower profitability. For investors interested in such a company, GLOBAL PARTNERS LP is strong in dividend, growth, and medium in asset and profitability. It has the potential to be a great investment for those looking for growth and income. We believe that with its impressive health score and Cheetah classification, GLOBAL PARTNERS LP is an attractive option for those looking for a reliable and profitable investment. More…
Peers
Global Partners LP is one of the largest publicly traded partnerships and a leading independent owner, operator, and developer of midstream energy assets in North America. The company owns, controls, or has access to one of the largest terminal networks of refined petroleum products and renewable fuels in the Northeast. Global Partners competes with Martin Midstream Partners LP, YPF SA, and PBF Logistics LP.
– Martin Midstream Partners LP ($NASDAQ:MMLP)
Midstream Partners LP is a publicly traded partnership that owns, operates, and develops midstream assets in the United States. The company’s assets include crude oil and refined products pipelines, terminals, and storage facilities. Midstream Partners LP is headquartered in Houston, Texas.
– YPF SA ($NYSE:YPF)
YPF SA is an Argentine oil company with a market cap of 2.91B as of 2022. The company has a return on equity of 22.03%. YPF SA is engaged in the exploration, development, and production of oil and gas in Argentina. The company also produces and markets natural gas, electricity, and petrochemicals.
– PBF Logistics LP ($NYSE:PBFX)
PBF Logistics LP is a master limited partnership that owns, leases, operates and develops crude oil and refined petroleum products terminals, pipelines, storage tanks and trucks. As of December 31, 2020, the company’s assets included 27 terminals, six pipelines and two trucking fleets with a total capacity of approximately 33.5 million barrels.
PBF Logistics LP has a market cap of 1.33B as of December 31, 2020. The company’s Return on Equity for 2020 was 43.63%.
PBF Logistics LP is engaged in the business of owning, leasing, operating and developing crude oil and refined petroleum products terminals, pipelines, storage tanks and trucks. The company’s terminals are located in California, Louisiana, New Jersey, Ohio and Texas. The company’s pipelines transport crude oil and refined products in Ohio and Texas. The company’s trucking fleet delivers crude oil and refined products to customers in Ohio and Texas.
Summary
GLOBAL PARTNERS LP is an energy infrastructure and transportation company focused on the East Coast of the United States. Through its subsidiary, Yorkville Advisors Global L.P., the company recently announced a significant milestone by entering into a $50 million pre-paid advance agreement. This agreement provides the company with additional liquidity to fund its growth initiatives, allowing it to further expand its operations and make strategic investments.
The agreement is a testament to the strength of its business model and ability to generate strong returns for its investors. This move also offers a significant upside potential for long-term investors who may be looking for superior returns in the energy infrastructure and transportation sector.
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