Global Partners Lifts 2026 Maintenance Spending Forecast by $5 Million

Global Partners LP raised its 2026 maintenance spending forecast by $5 million at both ends of the range, increasing planned outlays for existing assets while leaving its expansion budget unchanged.

The partnership now expects maintenance capital spending of $65 million-$75 million, up from its previous $60 million-$70 million range. Its expansion spending forecast remains $75 million-$85 million, excluding acquisitions.

The maintenance forecast covers spending primarily for Global Partners’ gasoline station and terminal businesses. The partnership defines maintenance spending as work that keeps existing assets operating or revenue-producing and extends their useful lives.

The category includes work on equipment reliability, tank and pipeline integrity, safety and certain environmental requirements. Global Partners expects to fund the spending with cash generated from operations.

Maintenance CapEx totaled $45.1 million in the first nine months of 2026, compared with $31.4 million in the same period of 2025. The partnership operates or maintains 54 liquid energy terminals.

The spending forecast is an estimate that can vary with project timing, equipment and workforce availability, weather and unforeseen events.

In a separate amendment signed Oct. 16, Global Partners extended its credit agreement maturity from March 20, 2028, to Oct. 16, 2031. The agreement retained a $1 billion aggregate working capital commitment and a $500 million aggregate revolver commitment, while reducing a $300 million interim working capital commitment to zero.

“The July redemption of our Series B preferred units and the extension of our credit facility to 2031 give us greater flexibility,” said Eric Slifka, Global Partners president and chief executive officer.