Welcome to our dedicated page for Martin Midstream Prtnrs L P news (Ticker: MMLP), a resource for investors and traders seeking the latest updates and insights on Martin Midstream Prtnrs L P stock.
Martin Midstream Partners L.P. (MMLP) provides critical midstream energy services across petroleum logistics, natural gas transportation, and sulfur processing in the Gulf Coast region. This page serves as the definitive source for official company announcements and market-moving developments.
Investors and industry professionals will find curated press releases covering quarterly earnings, strategic partnerships, infrastructure expansions, and operational updates. Our repository ensures immediate access to filings, management commentary, and regulatory disclosures that impact MMLP's position in the energy sector.
Content is organized to highlight material events affecting the partnership's terminalling services, marine transportation network, and specialty product lines. Users can efficiently track developments across MMLP's four core segments while understanding broader market implications through verified sources.
Bookmark this page for streamlined monitoring of Martin Midstream Partners' financial performance, leadership changes, and growth initiatives. Combine these updates with our detailed company profile to inform your analysis of this essential energy infrastructure provider.
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.
Martin Midstream Partners L.P. (MMLP) will release its financial results for Q3 2020 on October 21, after market close. A conference call to discuss these results is scheduled for October 22 at 8:00 a.m. CT. Investors can access the call at (877) 878-2695, with a replay available for a limited time. The press release serves as a qualified notice to nominees regarding tax withholding on distributions to foreign investors. The company operates primarily in the U.S. Gulf Coast, focusing on petroleum services, transportation, and sulfur product processing.
Martin Midstream Partners L.P. (MMLP) reported minimal damage to its coastal Texas and Louisiana terminals following Hurricane Laura. Operations are expected to resume fully by August 31, 2020. The Partnership activated its hurricane preparedness protocol, ensuring asset security and personnel safety. CEO Ruben S. Martin expressed gratitude for employee efforts and noted no material financial impact from the hurricane. The company focuses on petroleum-related services, with diverse operational lines across the Gulf Coast region.
On August 12, 2020, Martin Midstream Partners L.P. announced the completion of an exchange offer and cash tender offer for its 7.25% senior unsecured notes due 2021. Approximately 91.76% of the existing notes were exchanged, with $334.4 million in aggregate principal. The Issuers paid $41.9 million in cash and issued new senior secured notes due 2025 and 2024 totaling $345.7 million. CEO Ruben Martin expressed gratitude for the support of note holders, emphasizing the improved debt maturity profile and focus on business growth.
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