Martin Midstream reports Q1 net income of $3.3M, adjusted EBITDA $30.4M, maintains FY guidance

MARTIN MIDSTREAM PARTNERS L.P.

Net income of $3.3M vs net loss of $5.1M in Q1 2023; diluted EPS $0.08 vs ($0.13).
Adjusted EBITDA $30.4M (slightly below guidance of $31.6M); full-year 2024 guidance reaffirmed at $116.1M.
Declares quarterly cash dividend of $0.005 per common unit; total adjusted leverage 3.81x vs 3.75x at year-end 2023.
Transportation segment adjusted EBITDA $13.2M (in line with Q1 2023); land and marine divisions exceeded forecast.
Growth capex $6.2M (incl. $4.8M for Plainview improvements); maintenance capex $11.2M (incl. $5.3M turnaround costs).

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARTIN MIDSTREAM PARTNERS L.P. reported the quarter ended March 31, 2024 results: revenue $ 180.8, net income $ 3.3, EPS $ 0.08. Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Revenue: $ 180.8
Net income: $ 3.3
EPS: $ 0.08
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Three Months Ended March 31, 2024 $ 3.3 $ 0.08 $ 30.4 $ 30.4 $ 10.1 $ 5.6 $ 180.8

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Source: SEC EDGAR

accession 0001176334-24-000063

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