Martin Midstream Partners L.P., together with its subsidiaries, engages in terminalling, processing, storage, and packaging of petroleum products and by-products primarily in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 17 marine shore-based terminal facilities and 13 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products. This segment also offers land rental services to oil and gas companies, as well as storage and handling services for lubricants and fuels. Its Transportation segment operates a fleet of 560 tank trucks and 1,150 trailers; and 31 inland marine tank barges, 14 inland push boats, and 1 articulated offshore tug and barge unit to transport petroleum products and by-products, petrochemicals, and chemicals. The company's Sulfur Services segment processes molten sulfur into prilled or pelletized sulfur, which is used in the production of fertilizers and industrial chemicals. This segment also owns 21 railcars and leases 27 railcars to transport molten sulfur; and leases 131 railcars to transport fertilizer products. Its Natural Gas Liquids segment stores, distributes, and transports natural gas liquids for wholesale deliveries to refineries, industrial NGL users, and propane retailers, as well as owns approximately 2.1 million barrels of underground storage capacity for NGLs. Martin Midstream GP LLC serves as a general partner of the company. Martin Midstream Partners L.P. was founded in 2002 and is based in Kilgore, Texas.
IPO Year: 2002
Exchange: NASDAQ
Website: mmlp.com
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Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP") today issued the following statement in response to the press release issued by Nut Tree Capital Management and Caspian Capital: The Conflicts Committee (the "Conflicts Committee") of the Board of Directors (the "GP Board") of Martin Midstream GP LLC, the general partner of MMLP (the "General Partner"), which consists of three independent directors, conducted a thorough nine-month evaluation with the support of independent legal and financial advisors and was diligent about the best path forward for MMLP, including actively considering proposals submitted by Nut Tree Capital Management and Caspian Capital. Following extensive negotiatio
Nut Tree and Caspian Believe Proposed Sale Significantly Undervalues MMLP and its Future Prospects Nut Tree and Caspian Intend to File a Proxy Statement and Solicit Proxies to Vote "AGAINST" the Proposed Sale Nut Tree and Caspian Launch www.ProtectMMLPValue.com NEW YORK, Oct. 22, 2024 /PRNewswire/ -- Nut Tree Capital Management L.P. ("Nut Tree") and Caspian Capital L.P. ("Caspian"), today announced that they intend to oppose the proposed sale of Martin Midstream Partners L.P. ("MMLP" or the "Company") (NASDAQ:MMLP) to Martin Resource Management Corporation ("MRMC"), an affiliate of the Company's General Partner, for $4.02 per MMLP common unit not already owned by MRMC. Nut Tree and Caspian h
Reported net loss of $3.3 million and net income of $3.7 million for the three and nine months ended September 30, 2024, respectively Adjusted EBITDA of $25.1 million and $87.3 million for the three and nine months ended September 30, 2024, respectively Declares quarterly cash dividend of $0.005 per common unit On October 3, 2024, entered into a definitive agreement and plan of merger with Martin Resource Management Corporation ("MRMC") whereby MRMC would acquire all outstanding common units of the Partnership not already owned by MRMC and its subsidiaries Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP" or the "Partnership") today announced its financial results for the third
Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP") will announce its financial results for the third quarter of 2024 on Wednesday, October 16, 2024, after the market closes. An investors' conference call to review third quarter results will be held the following day. Date: Thursday, October 17, 2024 Time: 8:00 a.m. CT (please dial in by 7:55 a.m.) Dial In #: (800) 715-9871 Conference ID: 8536096 Replay Dial In # (800) 770-2030 – Conference ID: 8536096 Pre-registration for the event and a webcast of the conference call is also available by visiting the Events and Presentations section under Investor Relations on our website at www.MMLP.com. During the conference call, management w
Martin Midstream Partners L.P. ("MMLP") (NASDAQ:MMLP) today announced that it has entered into a definitive agreement and plan of merger ("Merger Agreement") pursuant to which Martin Resource Management Corporation ("MRMC") would acquire all of the outstanding common units of MMLP not already owned by MRMC and its subsidiaries (the "Public Common Units"). The Merger Agreement follows the offer made by MRMC in May 2024 to acquire the Public Common Units. The Merger Agreement provides for an all-cash transaction whereby each holder of the Public Common Units would receive $4.02 per common unit owned, representing a 34.00% premium to the market closing price prior to MRMC's initial proposal m
Enhanced Offer Represents a 48% Premium to Martin Resource Management Corporation's Proposal, Which Significantly Undervalues MMLP and its Future Prospects Despite Repeated Requests and Superior Value Being Offered to MMLP Unitholders, Martin Midstream GP LLC's Conflicts Committee Refuses to Meet with Nut Tree and Caspian Directly Nut Tree and Caspian Call on Conflicts Committee to Act in Best Interests of All MMLP Unitholders by Meeting with Nut Tree and Caspian and Requiring Approval of the Majority of Unaffiliated Unitholders for Any Transaction with Martin Resource Management Corporation NEW YORK, July 29, 2024 /PRNewswire/ -- Nut Tree Capital Management L.P. ("Nut Tree") and Caspian Ca
Nut Tree and Caspian Reiterate $4.00 per Common Unit Offer Representing 31% Premium to Alternate Offer Made by Martin Resource Management Corporation Nut Tree and Caspian Call for Any Transaction with MRMC be Subject to Approval of Majority of Unaffiliated Common Unit Holders NEW YORK, July 19, 2024 /PRNewswire/ -- Nut Tree Capital Management LP ("Nut Tree") and Caspian Capital LP ("Caspian"), today sent a letter to the Conflicts Committee of the Board of Directors (the "Conflicts Committee") of Martin Midstream GP LLC (the "General Partner") highlighting the serious conflicts of interest among the Conflicts Committee, General Partner, Martin Resource Management Corporation ("MRMC"), and Mar
Net income of $3.8 million and $7.1 million for the three and six months ended June 30, 2024, respectively Adjusted EBITDA of $31.7 million and $62.1 million for the three and six months ended June 30, 2024, respectively Total adjusted leverage of 3.88 times as of June 30, 2024 Declares quarterly cash dividend of $0.005 per common unit Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP" or the "Partnership") today announced its financial results for the second quarter of 2024. Bob Bondurant, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of the Partnership, stated, "For the second quarter of 2024, the Partnership exceeded guidance by $0
Martin Resource Management Corporation ("MRMC"), owner of the general partner of Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP"), today announces that in regard to the proposal announced by Nut Tree Capital and Caspian Capital with respect to MMLP, MRMC reiterates the statement in our publicly disclosed proposal that we are interested only in acquiring all of the outstanding common units of MMLP and have no interest in selling our interests in MMLP or the general partner or in pursuing any other strategic alternative involving MMLP or the general partner. We are not able to further comment at this time on our proposal to acquire the outstanding common units of MMLP, as we remain in ac
Nut Tree and Caspian Offer Represents a 31% Premium – and a Highly Compelling Alternative – to Martin Resource Management Corporation's Below Market and Conflict-Ridden Proposal Nut Tree and Caspian Are Making Offer Public After Conflicts Committee of the Board of Martin Midstream's General Partner Has Refused to Engage Nut Tree and Caspian Have Advisors in Place and Are Prepared to Commence Expedited Due Diligence; Offer is Not Subject to a Financing Condition Nut Tree and Caspian Will Consider all Available Alternatives if Conflicts Committee Refuses to Meaningfully Engage NEW YORK, July 11, 2024 /PRNewswire/ -- Nut Tree Capital Management LP ("Nut Tree") and Caspian Capital LP ("Caspian")
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Reported net loss of $3.3 million and net income of $3.7 million for the three and nine months ended September 30, 2024, respectively Adjusted EBITDA of $25.1 million and $87.3 million for the three and nine months ended September 30, 2024, respectively Declares quarterly cash dividend of $0.005 per common unit On October 3, 2024, entered into a definitive agreement and plan of merger with Martin Resource Management Corporation ("MRMC") whereby MRMC would acquire all outstanding common units of the Partnership not already owned by MRMC and its subsidiaries Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP" or the "Partnership") today announced its financial results for the third
Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP") will announce its financial results for the third quarter of 2024 on Wednesday, October 16, 2024, after the market closes. An investors' conference call to review third quarter results will be held the following day. Date: Thursday, October 17, 2024 Time: 8:00 a.m. CT (please dial in by 7:55 a.m.) Dial In #: (800) 715-9871 Conference ID: 8536096 Replay Dial In # (800) 770-2030 – Conference ID: 8536096 Pre-registration for the event and a webcast of the conference call is also available by visiting the Events and Presentations section under Investor Relations on our website at www.MMLP.com. During the conference call, management w
Net income of $3.8 million and $7.1 million for the three and six months ended June 30, 2024, respectively Adjusted EBITDA of $31.7 million and $62.1 million for the three and six months ended June 30, 2024, respectively Total adjusted leverage of 3.88 times as of June 30, 2024 Declares quarterly cash dividend of $0.005 per common unit Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP" or the "Partnership") today announced its financial results for the second quarter of 2024. Bob Bondurant, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of the Partnership, stated, "For the second quarter of 2024, the Partnership exceeded guidance by $0
Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP") will announce its financial results for the second quarter of 2024 on Wednesday, July 17, 2024, after the market closes. An investors' conference call to review second quarter results will be held the following day. Date: Thursday, July 18, 2024 Time: 8:00 a.m. CT (please dial in by 7:55 a.m.) Dial In #: (888) 330-2384 Conference ID: 8536096 Replay Dial In # (800) 770-2030 – Conference ID: 8536096 Pre-registration for the event and a webcast of the conference call is also available by visiting the Events and Presentations section under Investor Relations on our website at www.MMLP.com. During the conference call, manageme
Net income of $3.3 million for the first quarter of 2024 compared to a net loss of $5.1 million for the same period in 2023 Adjusted EBITDA of $30.4 million for the first quarter of 2024 and maintains full year adjusted EBITDA guidance of $116.1 million Total adjusted leverage of 3.81 times as of March 31, 2024 Declares quarterly cash dividend of $0.005 per common unit Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP" or the "Partnership") today announced its financial results for the first quarter of 2024. Bob Bondurant, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of the Partnership, stated, "The Partnership had a strong quarter r
Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP") will announce its financial results for the first quarter of 2024 on Wednesday, April 17, 2024, after the market closes. An investors' conference call to review first quarter results will be held the following day. Date: Thursday, April 18, 2024 Time: 8:00 a.m. CT (please dial in by 7:55 a.m.) Dial In #: (888) 330-2384 Conference ID: 8536096 Replay Dial In # (800) 770-2030 – Conference ID: 8536096 Pre-registration for the event and a webcast of the conference call is also available by visiting the Events and Presentations section under Investor Relations on our website at www.MMLP.com. During the conference call, management will
Total adjusted leverage of 3.75 times as of December 31, 2023 Reported net income of $0.5 million for the fourth quarter and net loss of $4.5 million, which includes a $5.1 million impact from the loss on extinguishment of debt, for the year ended December 31, 2023 Reported adjusted EBITDA of $29.2 million and $117.7 million, after giving effect to the May 2023 exit of the butane optimization business, which incurred adjusted EBITDA of zero and negative adjusted EBITDA of $15.1 million, for the fourth quarter and year ended December 31, 2023, respectively Releases 2024 adjusted EBITDA Guidance of $116.1 million, growth capital expenditures of $17.4 million, and maintenance capi
Martin Midstream Partners L.P. (NASDAQ:MMLP) announced it has declared a quarterly cash distribution of $0.005 per unit for the quarter ended December 31, 2023. The distribution is payable on February 14, 2024 to common unitholders of record as of the close of business on February 7, 2024. The ex-dividend date for the cash distribution is February 6, 2024. Martin Midstream Partners LP, headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the Gulf Coast region of the United States. MMLP's primary business lines include: (1) terminalling, processing, and storage services for petroleum products and by-products; (2) la
Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP") will announce its financial results for the fourth quarter of 2023 on Wednesday, February 14, 2024 after the market closes. An investors' conference call to review fourth quarter results will be held the following day. Date: Thursday, February 15, 2024 Time: 8:00 a.m. CT (please dial in by 7:55 a.m.) Dial In #: (888) 330-2384 Conference ID: 8536096 Replay Dial In # (800) 770-2030 – Conference ID: 8536096 Pre-registration for the event and a webcast of the conference call is also available by visiting the Events and Presentations section under Investor Relations on our website at www.MMLP.com. During the conference call, m
Total adjusted leverage of 3.95 times as of September 30, 2023 Reported net loss of $1.1 million and $5.1 million for the three and nine months ended September 30, 2023, respectively, which includes a $5.1 million impact from the loss on extinguishment of debt for the nine months ended September 30, 2023 Reported adjusted EBITDA of $26.2 million and $88.6 million, after giving effect to the May 2023 exit of the butane optimization business, which incurred adjusted EBITDA of zero and negative adjusted EBITDA of $15.1 million, for the three and nine months ended September 30, 2023, respectively Reaffirms 2023 Annual Adjusted EBITDA Guidance of $115.4 million Declares quarterl
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Nut Tree and Caspian Reiterate $4.00 per Common Unit Offer Representing 31% Premium to Alternate Offer Made by Martin Resource Management CorporationNut Tree and Caspian Call for Any Transaction with MRMC be Subject to Approval of Majority of Unaffiliated Common Unit HoldersNEW YORK, July 19, 2024 /PRNewswire/ -- Nut Tree Capital Management LP ("Nut Tree") and Caspian Capital LP ("Caspian"), today sent a letter to the Conflicts Committee of the Board of Directors (the "Conflicts Committee") of Martin Midstream GP LLC (the "General Partner") highlighting the serious conflicts of interest among the Conflicts Committee, General Partner, Martin Resource Management Corporation ("MRMC"), and Marti
Martin Midstream Partners (NASDAQ:MMLP) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $0.08 by 12.5 percent. The company reported quarterly sales of $184.531 million which missed the analyst consensus estimate of $193.906 million by 4.83 percent. This is a 5.68 percent decrease over sales of $195.636 million the same period last year.
Martin Resource Management Corporation ("MRMC"), owner of the general partner of Martin Midstream Partners L.P. (NASDAQ:MMLP) ("MMLP"), today announces that in regard to the proposal announced by Nut Tree Capital and Caspian Capital with respect to MMLP, MRMC reiterates the statement in our publicly disclosed proposal that we are interested only in acquiring all of the outstanding common units of MMLP and have no interest in selling our interests in MMLP or the general partner or in pursuing any other strategic alternative involving MMLP or the general partner. We are not able to further comment at this time on our proposal to acquire the outstanding common units of MMLP, as we remain in act
Nut Tree and Caspian Offer Represents a 31% Premium – and a Highly Compelling Alternative – to Martin Resource Management Corporation's Below Market and Conflict-Ridden ProposalNut Tree and Caspian Are Making Offer Public After Conflicts Committee of the Board of Martin Midstream's General Partner Has Refused to EngageNut Tree and Caspian Have Advisors in Place and Are Prepared to Commence Expedited Due Diligence; Offer is Not Subject to a Financing ConditionNut Tree and Caspian Will Consider all Available Alternatives if Conflicts Committee Refuses to Meaningfully EngageNEW YORK, July 11, 2024 /PRNewswire/ -- Nut Tree Capital Management LP ("Nut Tree") and Caspian Capital LP ("Caspian"), to
On June 15, 2024, Martin Midstream Partners became aware of a spill of approximately 2,000 barrels of crude oil originating from the Partnership's transfer pipeline which connects our Sandyland Terminal to the Smackover Refinery in Smackover, Union County, Arkansas. The Partnership is working closely with the Environmental Protection Agency ("EPA"), Arkansas Department of Energy and Environment, and Arkansas Game and Fish Commission to respond to the spill. As of June 23, 2024, clean-up efforts have recovered approximately 1,250 barrels of crude oil and efforts are on-going under a Unified Command structure led by the EPA.
Martin Midstream Partners (NASDAQ:MMLP) reported quarterly earnings of $0.08 per share which beat the analyst consensus estimate of $0.07 by 14.29 percent. The company reported quarterly sales of $180.830 million which missed the analyst consensus estimate of $198.797 million by 9.04 percent. This is a 26.05 percent decrease over sales of $244.529 million the same period last year.
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