Martin Midstream Prtnrs L P Stock Price, News & Analysis

Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ending December 31, 2022. This distribution will be payable on February 14, 2023, to unitholders of record as of February 7, 2023. The ex-dividend date is set for February 6, 2023. Notably, 100% of the partnership's distributions to non-U.S. investors will be subject to federal income tax withholding. MMLP operates in the Gulf Coast region, focusing on storage, transportation, and processing of petroleum products and by-products.

Martin Midstream Partners L.P. (NASDAQ: MMLP) announced its participation in the 2022 Wells Fargo Midstream and Utilities Symposium on December 7-8, 2022. Members of the executive management team will present, with the presentation available on the company’s website at www.MMLP.com. The Partnership operates in the U.S. Gulf Coast region, focusing on terminalling, processing, storage, transportation of petroleum products, and sulfur-based products. More information can be found on their website.

Martin Midstream Partners L.P. (MMLP) reported a net loss of $28 million for Q3 2022, driven by a $21.8 million inventory write-down and increased operational expenses. Adjusted EBITDA dropped to $18.8 million from $21.5 million YoY. Revenues increased to $229.3 million, up from $211.3 million. The company has revised its 2022 adjusted EBITDA guidance to $116-$121 million, down from $126-$135 million, citing lower seasonal commodity prices. Despite strong performance in Transportation and Terminalling segments, volatility in Sulfur and NGL segments weighs on overall results.

Martin Midstream Partners L.P. (MMLP) has partnered with Samsung C&T America and Dongjin USA to form DSM Semichem LLC, focusing on producing and distributing electronic level sulfuric acid (ELSA). MMLP will own a 10% interest in DSM and will supply feedstock for the ELSA facility in Plainview, Texas. The capital investment required is approximately $20 million, with an expected annual distributable cash flow of $5 to $6 million. The facility is projected to begin operations in Q1 2024, addressing the growing demand for ELSA in semiconductor manufacturing.

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 $5.25 million. The proceeds will be allocated to reducing outstanding debt under the Partnership's revolving credit facility. MMLP aims to strengthen its balance sheet and lower leverage by offloading non-core assets, allowing a more focused approach on refinery services. The Stockton Terminal was deemed non-core due to its geographical distance from primary operations in the U.S. Gulf Coast.

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.