Welcome to our dedicated page for Martin Midstream Partners LP news (Ticker: MMLP), a resource for investors and traders seeking the latest updates and insights on Martin Midstream Partners LP stock.
Martin Midstream Partners LP (MMLP) is a publicly traded limited partnership primarily focused on the United States Gulf Coast region. The company operates four main business lines:
- Terminalling, Storage, and Packaging Services for petroleum products and by-products, including the refining of naphthenic crude oil.
- Natural Gas Services that encompass liquids transportation, distribution, and natural gas storage.
- Sulfur and Sulfur-Based Products processing, manufacturing, marketing, and distribution.
- Marine Transportation Services for petroleum products, chemicals, and specialty products.
Martin Midstream Partners LP collects, transports, stores, and distributes petroleum products and by-products produced primarily by independent oil and gas companies. These companies often rely on third parties like Martin Midstream for efficient transportation and disposition of their products. The company’s primary customers include independent refiners, large chemical companies, fertilizer manufacturers, and other wholesale purchasers.
Operating in four segments – Terminalling and Storage, Transportation, Sulfur Services, and Specialty Products – Martin Midstream Partners LP derives a significant portion of its revenue from the Specialty Products segment. The company continuously strives to achieve excellence in service and maintain robust partnerships in the industry.
Recent Achievements and Current Projects:
Martin Midstream Partners LP has been actively involved in advancing its business operations. Some of their recent achievements include new contract awards in the marine transportation segment and expansion of their natural gas storage facilities. The company remains committed to innovation and sustainability, ensuring that their operations align with industry standards and customer needs.
Financial Condition and Partnerships:
Martin Midstream Partners LP has shown resilience in its financial performance, adapting to market conditions and maintaining steady revenue streams. The company has formed strategic partnerships with major industry players, securing long-term contracts that bolster its market position and revenue stability.
Overall, Martin Midstream Partners LP continues to be a significant player in the Gulf Coast region, providing essential services that support the petroleum, natural gas, and chemical industries. The company’s diverse operations and customer-centric approach make it a reliable partner for businesses seeking efficient and comprehensive logistics solutions.
Martin Midstream Partners L.P. (NASDAQ: MMLP) has announced a quarterly cash distribution of $0.005 per unit for the quarter ending September 30, 2022. This distribution is set for November 14, 2022, payable to common unitholders of record by November 7, 2022, with an ex-dividend date of November 4, 2022. The press release also notes that all distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate, according to applicable regulations.
Martin Midstream Partners L.P. (NASDAQ: MMLP) will announce its third-quarter financial results for the period ending September 30, 2022, after market close on November 2, 2022. A conference call to discuss these results is scheduled for November 3, 2022, at 8:00 a.m. CT. Participants can join the call by dialing (888) 330-2384 and using conference ID: 8536096. A replay will be available post-call. The webcast can be accessed through the Investor Relations section on their website.
Martin Midstream Partners L.P. (MMLP) has successfully sold its Stockton Sulfur Terminal to Gulf Terminals LLC for approximately
Martin Midstream Partners L.P. (NASDAQ: MMLP) is set to participate in the 2022 Inaugural Wells Fargo Leveraged Finance Conference from September 7 to September 9 in Nashville, Tennessee. The presentation will be accessible via www.MMLP.com. The Partnership operates primarily in the United States Gulf Coast, providing services such as terminalling, processing, storage, marine transportation, and sulfur processing. For more details, interested parties can visit the MMLP website.
Martin Midstream Partners L.P. (MMLP) announced the availability of its 2021 Schedule K-3 online, catering to unitholders with international tax reporting needs. This detailed tax information is crucial for foreign unitholders and those requiring foreign tax credits. Unitholders can access their K-3 forms at www.taxpackagesupport.com/martinmidstream. For electronic copies, unitholders can contact Tax Package Support at (888) 334-7473.
Martin Midstream operates various services primarily in the U.S. Gulf Coast, including petroleum storage, transportation, and sulfur processing.
Martin Midstream Partners L.P. (Nasdaq:MMLP) announced strong financial results for Q2 2022, reporting a net income of $6.6 million and adjusted EBITDA of $38.3 million. Revenues rose to $267 million, a significant increase from $184.3 million in Q2 2021. The partnership raised its 2022 adjusted EBITDA guidance from $110-$120 million to $126-$135 million due to elevated refinery utilization and robust demand across its business segments. A quarterly distribution of $0.005 per unit has also been declared, payable on August 12, 2022.
Martin Midstream Partners L.P. (MMLP) will announce its financial results for the second quarter ended June 30, 2022, after market close on July 20, 2022. An investor conference call to review these results is scheduled for July 21, 2022, at 8:00 a.m. CT, with a dial-in number of (888) 330-2384. This call will include discussions on certain non-GAAP financial measures alongside reconciliations to GAAP metrics. More details can be found on their official website.
Martin Midstream Partners L.P. (NASDAQ: MMLP) announced its participation in the 2022 Energy Infrastructure Council Investor Conference from May 16-18, 2022, in West Palm Beach, Florida. Executive management will present at the event, with presentation materials available on the Partnership's website. MMLP operates primarily in the U.S. Gulf Coast region, providing services including terminalling, processing, storage, and transportation of petroleum products, as well as sulfur processing and natural gas liquids services. For more details, visit www.MMLP.com.
Martin Midstream Partners L.P. (MMLP) reported a net income of $11.5 million and adjusted EBITDA of $40.0 million for Q1 2022, surpassing guidance by $10.0 million. The partnership reduced its adjusted leverage ratio from 4.19 to 3.87 times, reflecting efforts to improve its balance sheet. MMLP increased its 2022 adjusted EBITDA guidance range to $110 - $120 million and anticipates a strong demand for its services. However, margin contraction may occur due to supply chain disruptions and inflation pressure.
Martin Midstream Partners L.P. (NASDAQ: MMLP) announced the results of its cash tender offer for the purchase of up to $9,305,000 of its 11.50% Senior Secured Second Lien Notes due 2025. The offer expired on April 13, 2022, with only $589,229, or about 0.20%, of the Notes validly tendered. MMLP accepted and paid for all validly tendered Notes on April 14, 2022. This tender offer reflects the Partnership's effort to manage its debt obligations effectively.
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