Martin Midstream Q2 net income $1.1M; exits butane optimization; reaffirms FY adj. EBITDA $115.4M

MARTIN MIDSTREAM PARTNERS L.P.

Net income $1.1M ($0.03/unit) vs $6.6M in Q2 2022; revenue $195.6M, down 27% YoY.
Adjusted EBITDA (ex-butane) $31.8M; reaffirms full-year guidance of $115.4M.
Exited butane optimization business May 1; inventory sold; reduced debt by $39.5M to $460.5M.
Declared quarterly distribution $0.005/unit, unchanged; leverage ratio 4.14x, down from 4.25x.
Segment: T&S EBITDA $9.6M; Transportation $12.1M; Sulfur $8.0M; Specialty (ex-butane) $5.9M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MARTIN MIDSTREAM PARTNERS L.P. reported the quarter ended June 30, 2023 results: net income $1.1 million. Guidance reaffirmed.

Period: the quarter ended June 30, 2023
Net income: $1.1 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Reported net income of $1.1 million for the three months ended June 30, 2023

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Source: SEC EDGAR

accession 0001176334-23-000136

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