Martin Midstream Q1 net loss $5.1M; adjusted EBITDA $30.6M in line with guidance; distribution unchanged at $0.005/unit

MARTIN MIDSTREAM PARTNERS L.P.

Net loss of $5.1M ($0.13/unit) vs net income of $11.5M a year ago; includes $5.1M loss on debt extinguishment.
Revenue $244.5M, down 12% from $279.2M; adjusted EBITDA after butane exit $30.6M vs guidance $31.4M.
Leverage ratio improved to 4.25x from 4.53x; total debt reduced $16M to $500M.
Quarterly cash distribution unchanged at $0.005/unit, payable May 15 to record holders May 8.
Full-year 2023 adjusted EBITDA guidance after butane exit reaffirmed at $115.4M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARTIN MIDSTREAM PARTNERS L.P. reported first quarter of 2023 results: net income net loss of $5.1 million.

Period: first quarter of 2023
Net income: net loss of $5.1 million
Result: reported results

Exact text from the filing

Martin Midstream Partners L.P. (the "Partnership") issued a press release reporting its financial results for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001176334-23-000078

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