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. (MMLP) reported its financial results for Q4 and the full year of 2020. Despite a challenging environment due to COVID-19, the company met the low end of its guidance but faced headwinds in Transportation and NGL segments, with a significant decline in operating income.
In 2021, MMLP anticipates Adjusted EBITDA between $95 million and $102 million, driven by expected increases in refined product demand as the economy rebounds. Approximately 62% of cash flows are fixed-fee contracts, providing stability amid market uncertainty.
Martin Midstream Partners L.P. (NASDAQ: MMLP) has rescheduled its earnings release and conference call due to severe winter storm impacts. The Partnership will announce its fourth quarter and full-year 2020 financial results on February 22, 2021, after market close, with the conference call on February 23, 2021, at 8:00 a.m. CT. During the call, management will discuss non-GAAP financial measures, with reconciliations provided. The Partnership focuses on services such as terminalling, storage, and transportation of petroleum products and by-products throughout the U.S. Gulf Coast region.
Martin Midstream Partners L.P. (NASDAQ: MMLP) will release its fourth quarter 2020 financial results on February 17, 2021, followed by a conference call on February 18 at 8:00 a.m. CT. The Partnership declared a quarterly cash distribution of $0.005 per unit, payable on February 12, 2021. The ex-dividend date is February 4, 2021. The release includes non-GAAP financial measures, with reconciliations provided during the conference call. Forward-looking statements are made regarding potential impacts from COVID-19 and commodity price volatility.
Martin Midstream Partners L.P. (MMLP) has announced the sale of assets related to its Mega Lubricants shore-based terminals business to John W. Stone Oil Distributor for $22.4 million. This transaction is part of MMLP's strategy to reduce debt and focus on core operations in refinery services. Incoming CEO Robert Bondurant emphasized the importance of leverage reduction for attracting investors. The acquisition enhances Stone Oil's offerings in marine fuel and lubricants, highlighting the compatibility of both businesses.
Ruben S. Martin, III has been elected Chairman of the Board of Directors for Mercy Ships International, effective January 1, 2021. A long-time board member and supporter, Martin has served in various leadership roles and is instrumental in the launch of the Global Mercy™, the largest civilian hospital ship, enhancing Mercy Ships' surgical care capacity. He succeeds Myron E. Ullman, who retires after nearly 20 years. Martin, CEO of Martin Midstream Partners (NASDAQ: MMLP), brings extensive experience to the role, which is vital for the charity's ongoing mission to deliver healthcare to the world's disadvantaged.
On December 11, 2020, Alerian announced the results of the December quarterly review for its index series, effective December 18, 2020. Martin Midstream Partners (NASDAQ: MMLP) will be removed from both the Alerian Midstream Energy Index (AMNA) and the Alerian US Midstream Energy Index (AMUS). No changes were reported for other indexes, including the Alerian MLP Index (AMZ) and the Alerian MLP Infrastructure Index (AMZI). Alerian's indexes track over $23 billion in assets, serving a global clientele with innovative index-based investment strategies.
KILGORE, Texas, Nov. 25, 2020 – Martin Midstream Partners L.P. (NASDAQ: MMLP) announced the participation of its executive management in the BofA Leveraged Finance Conference on December 1, 2020, and the Wells Fargo Midstream and Utility Symposium on December 8, 2020. Interested parties can access the Partnership’s presentation through its website at www.MMLP.com. The Partnership operates across the United States Gulf Coast, offering services such as terminalling and transportation for petroleum products, sulfur processing, and natural gas liquids distribution.
On November 17, 2020, Martin Midstream Partners L.P. (NASDAQ: MMLP) announced participation in the RBC Capital Markets Midstream and Energy Infrastructure Virtual Conference on November 18-19, 2020. The Partnership will present a detailed overview of its operations, which focus on a range of services including terminalling, processing, storage, and transportation of petroleum products. Investors can access the presentation on the Partnership's official website here.
Martin Midstream Partners L.P. has announced the appointment of Robert D. Bondurant as President and CEO starting January 1, 2021, succeeding Ruben Martin, who will remain as Chairman. Bondurant, a long-time executive at the company, previously held the role of Executive VP and CFO since 2002. Additionally, Sharon Taylor has been appointed as VP and CFO effective the same date. The management transition reflects the Board's confidence in Bondurant's vision for the company’s future.
Martin Midstream Partners L.P. (MMLP) reported a net loss of $10.8 million for Q3 2020, impacted by an $8.5 million charge from senior note exchanges. Despite challenging conditions, the company posted adjusted EBITDA of $22.5 million and generated distributable cash flow of $8.1 million for the quarter. Terminaling and Storage segment saw improved margins, while Transportation segment faced declines due to COVID-19's impact. MMLP affirmed its 2020 guidance for adjusted EBITDA between $95 million and $107 million.
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