Martin Midstream Q2 net income $3.8M; adj. EBITDA $31.7M beats guidance; declares $0.005/unit dividend

MARTIN MIDSTREAM PARTNERS L.P.

Net income $3.8M ($0.09/unit) vs $1.1M in Q2 2023; revenue $184.5M down from $195.6M.
Adjusted EBITDA $31.7M exceeded guidance of $31.2M; sulfur services up $2.6M on higher fertilizer margins.
Terminalling & storage EBITDA fell $1.6M on $1.5M crude oil spill casualty loss; transportation down $0.9M on bridge allision.
Total adjusted leverage 3.88x at June 30, 2024; full-year 2024 adj. EBITDA guidance of $116.1M implies weaker H2.
Quarterly cash dividend declared at $0.005 per common unit, unchanged from prior.

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