Martin Midstream Prtnrs L P Stock Price, News & Analysis

Martin Midstream Partners (MMLP) reported a net loss of $1.0 million in Q1 2025, compared to net income of $3.3 million in Q1 2024. The loss includes $0.8 million in costs from a terminated merger agreement with Martin Resource Management

Adjusted EBITDA decreased to $27.8 million from $30.4 million year-over-year, while maintaining full-year guidance of $109.1 million. The company's adjusted leverage ratio increased to 4.21x from 3.96x in December 2024.

Segment performance was mixed:

• Sulfur Services saw increased sales volumes and $4.8 million higher Adjusted EBITDA
• Transportation segment declined $5.2 million in Adjusted EBITDA
• Terminalling and Storage decreased $1.3 million due to higher operating expenses
• Specialty Products decreased $0.9 million, though propane showed strength

The Partnership declared a quarterly cash distribution of $0.005 per unit, payable May 15, 2025.

Martin Midstream Partners L.P. (NASDAQ: MMLP) has scheduled the release of its first quarter 2025 financial results for Wednesday, April 16, 2025, after market close. The financial results will be accessible through the company's website at www.MMLP.com.

Caspian Capital LP has released a statement regarding Martin Midstream Partners L.P. (NASDAQ: MMLP), expressing support for MMLP's December 26th decision to terminate its merger agreement with Martin Resource Management

Caspian maintains their belief in MMLP's potential valuation being significantly higher than the previously proposed merger purchase price. The firm has discontinued its acquisition efforts, ended collaboration with Nut Tree Capital Management L.P., and currently has no plans for company control.

Moving forward, Caspian will focus on monitoring MMLP's execution, capital allocation, and engaging with the company to maximize unitholder value as a standalone public entity.

Martin Midstream Partners (MMLP) reported a net loss of $8.9 million for Q4 2024 and $5.2 million for full-year 2024, including $3.7 million in costs from the terminated merger agreement with Martin Resource Management The company generated Adjusted EBITDA of $23.3 million in Q4 and $110.6 million for full-year 2024, falling approximately $5.5 million below annual guidance.

Total debt stood at $453.6 million as of December 31, 2024, with liquidity of $80.7 million under the revolving credit facility. The company ended the year with an adjusted leverage ratio of 3.96 times.

For 2025 guidance, MMLP expects Adjusted EBITDA of $109.1 million, with growth capital expenditures of $9.0 million and maintenance capital expenditures of $25.9 million. The company projects Adjusted Free Cash Flow of approximately $18.8 million for fiscal year 2025.

Martin Midstream Partners (NASDAQ: MMLP) has announced it will release its fourth quarter and full year 2024 financial results on Wednesday, February 12, 2025, after market close. The results will be accessible on the company's website at www.MMLP.com. Additionally, MMLP plans to release its full year 2025 financial guidance alongside the earnings announcement.

Martin Midstream Partners (NASDAQ: MMLP) has announced a quarterly cash distribution of $0.005 per unit for the quarter ended December 31, 2024. The distribution will be paid on February 14, 2025, to unitholders of record as of February 7, 2025, which is also the ex-dividend date.

The company, based in Kilgore, Texas, operates primarily in the Gulf Coast region with four main business segments: (1) terminalling, processing, and storage services for petroleum products; (2) land and marine transportation services; (3) sulfur and sulfur-based products processing and distribution; and (4) marketing and transportation services for natural gas liquids and specialty lubricants.

Martin Midstream Partners L.P. (MMLP) has announced the termination of its previously announced merger agreement with Martin Resource Management (MRMC). The merger, which would have resulted in MRMC acquiring all outstanding MMLP common units not already owned by MRMC and its subsidiaries, was terminated by mutual consent with approval from the Conflicts Committee.

MMLP will continue operating as a standalone publicly traded company. The special meeting of unitholders scheduled for December 30, 2024, has been cancelled, and the proposals in MMLP's definitive proxy statement filed on November 27, 2024, have been withdrawn. Management expressed commitment to executing their long-term strategy, focusing on debt reduction and improving operating results.

Nut Tree Capital Management and Caspian Capital, holding approximately 13.6% of Martin Midstream Partners L.P. (MMLP) common units, have issued a letter urging unitholders to vote 'AGAINST' the proposed merger with Martin Midstream Resource (MRMC). The merger, valued at $4.02 per common unit, is scheduled for consideration at a unitholder meeting on December 30, 2024. The investors claim MMLP has made false and misleading statements to push through the merger, which they argue would enrich Ruben Martin and MRMC at the expense of other MMLP unitholders.

Martin Midstream Partners (MMLP) announced the filing of an investor presentation regarding its pending transaction with Martin Resource Management (MRMC). The deal offers $4.02 per common unit, representing a 34% premium to MMLP's closing price before MRMC's initial proposal on May 24, 2024. The transaction resulted from a nine-month review process with seven rounds of price negotiations.

The deal implies a total enterprise value/expected 2025 EBITDA multiple of 5.4x, surpassing MMLP's historical trading multiple of 4.6x. Management forecasts flat growth with ~0% EBITDA CAGR from 2025-2028. The company prioritizes debt reduction over distribution increases. The Conflicts Committee and Board unanimously recommend unitholders vote 'FOR' the transaction at the Special Meeting on December 30, 2024.