secwatch.observer — SEC 8-K summary
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Issuer:     MARTIN MIDSTREAM PARTNERS L.P. (MMLP)
CIK:        0001176334
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0001176334-22-000194
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Martin Midstream Q3 net loss $28M ($0.71/unit); cuts FY22 adj. EBITDA guide to $116-121M
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- Net loss of $28.0M in Q3 2022 vs $6.9M loss in Q3 2021, including $21.8M inventory write-down.
- Adjusted EBITDA of $18.8M in Q3 vs $21.5M prior year; T&S and Transportation outperformed, Sulfur and NGL weakened.
- Q4 2022 adjusted EBITDA guidance lowered to $19-24M; full-year 2022 revised to $116-121M from prior $133-138M (pre-SG&A).
- Total debt $547M at Sep 30, 2022; $44M liquidity; revolver matures Aug 2023; refinancing underway.
- NGL segment had $18.5M non-cash inventory write-down; Sulfur segment also had $3.3M write-down and higher maintenance costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1176334/000117633422000194/0001176334-22-000194-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1176334/000117633422000194/mmlp-20221102.htm
  HTML page:      https://secwatch.observer/filing/0001176334-22-000194

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