secwatch.observer — SEC 8-K summary
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Issuer:     MARTIN MIDSTREAM PARTNERS L.P. (MMLP)
CIK:        0001176334
Form:       8-K
Filed at:   2026-02-18T23:59:59+00:00
Accession:  0001176334-26-000006
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Martin Midstream Q4 net loss $2.9M; FY25 Adj. EBITDA $99.0M; 2026 guidance $96.5M
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- Q4 net loss $2.9M ($0.07/unit); FY net loss $14.8M ($0.37/unit) vs loss $5.2M in 2024.
- Q4 Adjusted EBITDA $24.8M; FY $99.0M vs $110.6M in 2024, down 10.5% YoY.
- Transportation segment FY Adj. EBITDA $30.8M (-$11.7M YoY); grease business down $5.3M.
- 2026 guidance: Adj. EBITDA $96.5M, total capex $36.5M (incl. $10M turnaround), adj. FCF $5.8M.
- Ended 2025 with $439.1M debt, $31.4M liquidity, leverage ratio 4.43x; dividend held at $0.005/unit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1176334/000117633426000006/0001176334-26-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1176334/000117633426000006/mmlp-20260218.htm
  HTML page:      https://secwatch.observer/filing/0001176334-26-000006

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