Martin Midstream Partners LP - MMLP STOCK NEWS

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.

Martin Midstream Partners L.P. (MMLP) announces its third-quarter financial results will be released on October 20, 2021, after market hours. The following day, October 21, 2021, a conference call will occur at 8:00 a.m. CT to discuss the results, requiring dial-in by 7:55 a.m.. Investors can join via phone at (833) 900-2251 with the conference ID 8571037. A webcast will also be available on their website. MMLP operates primarily in the U.S. Gulf Coast, focusing on terminalling, processing, and transportation of petroleum products.

Martin Midstream Partners L.P. (Nasdaq:MMLP) reported a net loss of $6.6 million for Q2 2021, worsening from a loss of $2.2 million in Q2 2020. Revenue rose to $184.3 million compared to $140.6 million year-over-year. Adjusted EBITDA decreased to $22.5 million from $23.9 million. The company anticipates improved asset utilization due to increasing refinery demand as the economy recovers, despite ongoing challenges from COVID-19, particularly in sulfur services. A quarterly distribution of $0.005 per unit was declared, payable on August 13, 2021.

Martin Midstream Partners L.P. (NASDAQ: MMLP) will announce its financial results for Q2 2021 on July 22, 2021, after market close. An investor conference call is scheduled for July 23, 2021, at 8:00 a.m. CT, where management will discuss the results. Participants are encouraged to call in by 7:55 a.m. to join. A replay of the call will be available thereafter. Martin Midstream operates across the U.S. Gulf Coast, providing terminalling, transportation, and processing services for petroleum and chemicals.