---
schema_version: "secwatch.filing_event.v1"
accession: "0001176334-23-000036"
form_type: "8-K"
ticker: "MMLP"
cik: "0001176334"
company_name: "MARTIN MIDSTREAM PARTNERS L.P."
filed_at: "2023-02-15T23:59:59+00:00"
generated_at: "2026-06-19T10:41:53.289713+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MMLP reports Q4 net loss $0.4M; exits butane optimization, refinances debt, guides 2023 EBITDA ~$115M

## Summary
- Q4 2022 net loss of $0.4M ($0.01/unit); adjusted EBITDA $17.8M vs $39.7M in Q4 2021.
- Exiting butane optimization (Q4 neg. adj. EBITDA $10.7M, FY $7.2M); expects to sell remaining inventory by Q2 2023.
- Closed $400M 5-year 2nd lien notes due 2028; repaid all 2024/2025 notes; revolver amended to $200M, maturity 2027.
- S&P, Fitch, Moody's upgraded credit ratings to B-/B3 with stable outlook in Jan/Feb 2023.
- FY 2023 guidance: Adj. EBITDA ~$115.3M (after butane exit), growth capex $17.5M, debt reduction ~$55M, leverage target 4.0x.

## SEC filing metadata
- accession: 0001176334-23-000036
- form_type: 8-K
- ticker: MMLP
- cik: 0001176334
- company_name: MARTIN MIDSTREAM PARTNERS L.P.
- filed_at: 2023-02-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1176334/000117633423000036/0001176334-23-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1176334/000117633423000036/mmlp-20230215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001176334-23-000036
- JSON: https://secwatch.observer/filing/0001176334-23-000036.json
- Plain text: https://secwatch.observer/filing/0001176334-23-000036.txt

## Key facts
- Earnings Releases
  MARTIN MIDSTREAM PARTNERS L.P. reported the fourth quarter ended December 31, 2022 results: net income $0.4 million.
  - Period: the fourth quarter ended December 31, 2022
  - Net income: $0.4 million
  - Result: reported results
  source text: Reported net loss of $0.4 million and $10.3 million for the fourth quarter and year ended December 31, 2022, respectively
  evidence_url: https://www.sec.gov/Archives/edgar/data/1176334/000117633423000036/0001176334-23-000036-index.htm
- Earnings Releases
  MARTIN MIDSTREAM PARTNERS L.P. reported the year ended December 31, 2022 results: net income $10.3 million.
  - Period: the year ended December 31, 2022
  - Net income: $10.3 million
  - Result: reported results
  source text: Reported net loss of $0.4 million and $10.3 million for the fourth quarter and year ended December 31, 2022, respectively
  evidence_url: https://www.sec.gov/Archives/edgar/data/1176334/000117633423000036/0001176334-23-000036-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.