Martin Midstream Partners LP - MMLP STOCK NEWS

Martin Midstream Partners L.P. (NASDAQ: MMLP) has announced a cash tender offer to buy back up to $9,305,000 of its outstanding 11.50% Senior Secured Second Lien Notes due 2025. This offer is in compliance with the indenture conditions due to Excess Cash Flow and a Total Leverage Ratio greater than 3.75 to 1.00 for the ECF Period ending December 31, 2021. The offer will expire on April 13, 2022, unless extended or terminated. Interested noteholders can find complete terms in the Offer to Purchase dated March 15, 2022.

Martin Midstream Partners L.P. (MMLP) announced its financial results for 2021, reporting a net income of $10.8 million for Q4 and a net loss of $0.2 million for the full year. Adjusted EBITDA reached $39.7 million for Q4 and $114.5 million for the year, exceeding guidance by $12.5 million. The company reduced adjusted leverage from 5.47x to 4.19x. However, 2022 guidance indicates potential margin contraction due to supply chain disruptions and inflation, forecasting adjusted EBITDA between $100 million and $110 million.

Martin Midstream Partners L.P. (NASDAQ: MMLP) will release its financial results for Q4 2021 and provide 2022 guidance on February 16, 2022. An investors' conference call is set for February 17, 2022, at 8:00 a.m. CT. The Partnership announced a quarterly cash distribution of $0.005 per unit for Q4 2021, payable on February 14, 2022. This PR also serves as a qualified notice to nominees regarding federal tax withholding for foreign investors. MMLP specializes in services like petroleum storage, transportation, and sulfur processing in the Gulf Coast region.

Martin Resource Management Corporation (MRMC) announced the acquisition of a 49% voting interest in MMGP Holdings LLC from Senterfitt Holdings Inc. This transaction, which became effective on December 22, 2021, allows MRMC to indirectly hold 100% membership interests in MMGP Holdings and its General Partner, Martin Midstream GP LLC. MRMC is also a major unit holder of Martin Midstream Partners L.P. (MMLP), owning approximately 6.1 million common limited partnership units.

Martin Midstream Partners L.P. (NASDAQ: MMLP) will participate in the 2021 Wells Fargo Virtual Midstream, Utility & Renewables Symposium on December 8-9, 2021. Executive management will host virtual meetings to discuss the Partnership's operations. An accompanying presentation will be available on the company's website. MMLP, based in Kilgore, Texas, offers services in terminalling, processing, storage, transportation, and sulfur products processing, focusing on the Gulf Coast region of the U.S.

Martin Midstream Partners L.P. (NASDAQ:MMLP) has announced a significant amendment to its limited partnership agreement, permanently eliminating the incentive distribution rights (IDRs) of its general partner, Martin Midstream GP LLC, effective immediately. CEO Bob Bondurant expressed that this change simplifies the partnership's financial structure and aligns the interests of MMLP and its common unit holders. While this amendment is not immediately accretive, it is expected to enhance long-term value for unitholders.

Martin Resource Management Corporation announced that Senterfitt Holdings Inc. acquired a 49% voting interest in MMGP Holdings LLC from Alinda Capital Partners. This acquisition consolidates control back under the Martin umbrella and simplifies the structure of the General Partner. MRMC has entered call option agreements to purchase membership interests in Holdings. The General Partner has restructured governance, reducing its Board to five members and eliminating Alinda's preferential rights. MRMC owns approximately 6.1 million common units of Martin Midstream Partners L.P. (MMLP).

Martin Midstream Partners L.P. (NASDAQ: MMLP) announced participation in the 2021 Bank of America Leveraged Finance Conference from November 30 to December 2, 2021. Executive management, including CFO Bob Bondurant and COO Randy Tauscher, will present live via webcast on December 1 at 2:15 PM Eastern. Interested parties can access the webcast through the Investor Relations section on the Partnership's website, www.MMLP.com. MMLP operates primarily in the U.S. Gulf Coast, providing services related to petroleum products and natural gas liquids.

Martin Midstream Partners L.P. (Nasdaq:MMLP) reported its third quarter 2021 financial results, revealing a net loss of $6.9 million, improving from a $10.8 million loss in Q3 2020. Adjusted EBITDA was $21.5 million, slightly down from $22.5 million YoY. Revenue rose significantly to $211.3 million, compared to $152.5 million a year prior. The Partnership declared a quarterly distribution of $0.005 per unit, payable on November 12, 2021. Hurricane Ida impacted operations but resulted in minimal asset damage. The company expects to meet the upper range of its 2021 financial guidance.