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Why Fast-paced Mover Martin Midstream Partners (MMLP) Is a Great Choice for Value Investors
Zacks Investment Research· 2024-04-17 13:51
Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves a ...
Martin Midstream Partners(MMLP) - 2023 Q4 - Annual Report
2024-02-21 21:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Mark One Annual Report Pursuant to Section 13 or 15(d) of the ☒ Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____. Commission file number 000-50056 MARTIN MIDSTREAM PARTNERS L.P. (Exact name of registrant as specified in its charter) Delaware 05-0527861 State or o ...
Martin Midstream Partners(MMLP) - 2023 Q4 - Earnings Call Transcript
2024-02-15 16:58
Martin Midstream Partners L.P. (NASDAQ:MMLP) Q4 2023 Earnings Conference Call February 15, 2024 9:00 AM ET Company Participants Sharon Taylor - Chief Financial Officer Bob Bondurant - Chief Executive Officer Randy Tauscher - Chief Operating Officer Conference Call Participants Kyle May - Sidoti & Company Selman Akyol - Stifel Patrick Fitzgerald - Baird Operator Good morning. My name is Audra and I will be your conference operator today. At this time, I would like to welcome everyone to the MMLP Fourth Quart ...
Martin Midstream Partners(MMLP) - 2023 Q4 - Earnings Call Presentation
2024-02-15 13:27
February 14, 2024 Sulfur Services 4Q23E 4Q23A Butane Optimization - - | --- | --- | |------------------------------|-------| | | | | Fourth Quarter and Full Year | | | 2023 Earnings Summary and | | | 2024 Financial Guidance | | | MARTIN MIDSTREAM PARTNERS | | Unallocated SG&A $(4.3) $(4.1) Total Adjusted EBITDA $26.9 $29.2 Total Sulfur Services $6.0 $7.4 | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------|----------------|-------------------- ...
Martin Midstream Partners(MMLP) - 2023 Q3 - Quarterly Report
2023-10-24 20:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ For the quarterly period ended September 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 000-50056 MARTIN MIDSTREAM PARTNERS L.P. (Exact name of registrant as specified in its charter) (State or other jur ...
Martin Midstream Partners(MMLP) - 2023 Q3 - Earnings Call Presentation
2023-10-19 15:18
Third Quarter 2023 Earnings Summary CORACABO | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------|-------|-------|-------|--------------------------------------------------|---------|--------|--------| | Transportation | 2023E | 3Q23E | 3Q23A | Specialty Products | 2023E | 3Q23E | 3Q23A | | Land | $36.2 | $8.5 | $6.7 | Lubricants | $9.0 | $2.4 | $3.6 | | Marine | $13.5 | $3.5 | $2.8 | Grease | $8.6 | $2.3 | $2.8 | | Total Transportation | $49.7 ...
Martin Midstream Partners(MMLP) - 2023 Q3 - Earnings Call Transcript
2023-10-19 15:15
Martin Midstream Partners L.P. (NASDAQ:MMLP) Q3 2023 Earnings Conference Call October 19, 2023 9:00 AM ET Company Participants Sharon Taylor - Chief Financial Officer Bob Bondurant - Chief Executive Officer Randy Tauscher - Chief Operating Officer David Cannon - Controller Danny Cavin - Director, FP&A Conference Call Participants Kyle May - Sidoti & Company Tim Howard - Stifel Operator Good morning. My name is Audra, and I will be your conference operator today. At this time, I would like to welcome everyon ...
Martin Midstream Partners(MMLP) - 2023 Q2 - Quarterly Report
2023-07-25 20:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 000-50056 MARTIN MIDSTREAM PARTNERS L.P. (Exact name of registrant as specified in its charter) (State or other jurisdicti ...
Martin Midstream Partners(MMLP) - 2023 Q2 - Earnings Call Transcript
2023-07-20 16:54
Financial Data and Key Metrics Changes - For Q2 2023, the company reported adjusted EBITDA of $31.8 million, slightly below the guidance of $32.2 million, representing a 1% difference [9] - The total long-term debt outstanding was $460.5 million, a reduction of $39.5 million from the previous quarter [24] - Distributable cash flow for the quarter was $9.7 million, and free cash flow was $7.8 million [27] Business Line Data and Key Metrics Changes - The transportation segment generated adjusted EBITDA of $12.1 million, exceeding guidance of $11.6 million, with the marine transportation business achieving $3.5 million against a forecast of $2.8 million [10][12] - The terminalling and storage segment had adjusted EBITDA of $9.6 million, surpassing guidance of $8.3 million, primarily due to reduced operating costs [13] - The sulfur services segment reported adjusted EBITDA of $8 million, below guidance of $10.6 million, mainly due to underperformance in the fertilizer group [15] - The specialty products segment achieved adjusted EBITDA of $5.9 million, slightly below guidance of $6 million, with strength in NGL and propane groups but weakness in packaged lubricants [19] Market Data and Key Metrics Changes - The company noted a 17% decline in forecasted sales volumes for the fertilizer group due to poor weather conditions impacting farmer demand [16] - Fertilizer prices continued to fall throughout Q2, negatively affecting margins as the company destocked higher-cost inventory [16] Company Strategy and Development Direction - The company plans to continue operating its underground NGL storage facility in North Louisiana, utilizing a fee-based volume-driven business model [8] - The exit from the butane optimization business is expected to lead to less volatile future earnings and significant reductions in working capital needs [62] - The company is focused on strengthening its balance sheet by paying down debt and lowering leverage to below 3.75x [57] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the agriculture market recovering, potentially starting in Q4 2023, contingent on favorable weather conditions [23][50] - The company anticipates continued strength in transportation and terminalling segments, offsetting challenges in sulfur and specialty products due to agricultural market headwinds [29] Other Important Information - Capital expenditures for the quarter totaled $9.8 million, with $7.9 million for maintenance and $1.9 million for growth [27] - The ELSA facility is expected to be online in Q1 2024, with a total investment of approximately $20 million [28][45] Q&A Session Summary Question: What is the outlook for transportation rates and production? - Management indicated strong rates in truck transportation and increased sulfur production, averaging over 3,500 tons per day, with expectations for continued high refinery utilization [36][37] Question: Are there any long-term contracts being secured for barges? - Management confirmed that there are contracts being locked in for longer durations at higher rates, reflecting confidence in rising market conditions [39][40] Question: What is the expected timeline for the ELSA project to ramp up? - The project is expected to ramp up in the second half of the year, with distributions from the joint venture anticipated in Q3 [46][49] Question: When can improvements in the agriculture market be expected? - Management suggested that while improvements may be seen in Q4, a more significant recovery is anticipated for the following year, depending on weather conditions [50] Question: What is the plan for free cash flow and leverage management? - The company plans to use free cash flow to reduce leverage below 3.75x before considering increasing distributions [55][60]
Martin Midstream Partners(MMLP) - 2023 Q1 - Quarterly Report
2023-04-25 20:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 000-50056 MARTIN MIDSTREAM PARTNERS L.P. (Exact name of registrant as specified in its charter) (State or other jurisdict ...