View ValuationMartin Midstream Partners 将来の成長Future 基準チェック /06現在、 Martin Midstream Partnersの成長と収益を予測するのに十分なアナリストの調査がありません。主要情報n/a収益成長率n/aEPS成長率Oil and Gas 収益成長7.9%収益成長率n/a将来の株主資本利益率n/aアナリストカバレッジNone最終更新日n/a今後の成長に関する最新情報Breakeven Date Change • Jul 23Forecast to breakeven in 2026The analyst covering Martin Midstream Partners expects the company to break even for the first time. New forecast suggests losses will reduce by 30% to 2025. The company is expected to make a profit of US$2.19m in 2026. Average annual earnings growth of 154% is required to achieve expected profit on schedule.Major Estimate Revision • Oct 15Consensus EPS estimates increase by 23%, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$732.4m to US$724.2m. EPS estimate rose from US$0.13 to US$0.16. Net income forecast to grow 5.9% next year vs 6.8% growth forecast for Oil and Gas industry in the US. Consensus price target of US$4.00 unchanged from last update. Share price was steady at US$3.98 over the past week.Major Estimate Revision • Jul 24Consensus EPS estimates fall by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$748.3m to US$727.7m. EPS estimate also fell from US$0.15 per share to US$0.13 per share. Net income forecast to shrink 9.7% next year vs 16% growth forecast for Oil and Gas industry in the US . Consensus price target of US$4.00 unchanged from last update. Share price fell 4.1% to US$3.51 over the past week.すべての更新を表示Recent updatesDeclared Dividend • Jul 26Second quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th August 2026 Payment date: 14th August 2026 Dividend yield will be 0.8%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.New Risk • Jul 24New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$11m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$11m free cash flow). Earnings have declined by 19% per year over the past 5 years. Minor Risks Negative equity (-US$90m). Market cap is less than US$100m (US$97.4m market cap).Reported Earnings • Jul 24Second quarter 2026 earnings released: EPS: US$0.066 (vs US$0.06 loss in 2Q 2025)Second quarter 2026 results: EPS: US$0.066 (up from US$0.06 loss in 2Q 2025). Revenue: US$213.6m (up 18% from 2Q 2025). Net income: US$2.58m (up US$4.93m from 2Q 2025). Profit margin: 1.2% (up from net loss in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.New Risk • Jul 13New major risk - Revenue and earnings growthEarnings have declined by 13% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Negative equity (-US$93m). Market cap is less than US$100m (US$89.0m market cap).お知らせ • Jul 08Martin Midstream Partners L.P. to Report Q2, 2026 Results on Jul 22, 2026Martin Midstream Partners L.P. announced that they will report Q2, 2026 results After-Market on Jul 22, 2026Seeking Alpha • May 19Martin Midstream Partners: Lowers Guidance After Challenging Start To 2026Summary Martin Midstream reported $20.8 million in Q1 2026 adjusted EBITDA, down from $27.8 million in Q1 2025. This contributed to a $6.5 million reduction in its full-year adjusted EBITDA guidance as it deals with challenges in its fertilizer and land transportation businesses. Martin received a credit rating downgrade from S&P. I anticipate that it can refinance its November 2027 and February 2028 debt maturities, but it may not save on its interest costs. This increases the likelihood that its distribution will remain minimal for years to come. Read the full article on Seeking AlphaDeclared Dividend • Apr 26First quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 8th May 2026 Payment date: 15th May 2026 Dividend yield will be 0.8%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (7% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.Reported Earnings • Apr 24First quarter 2026 earnings released: US$0.17 loss per share (vs US$0.026 loss in 1Q 2025)First quarter 2026 results: US$0.17 loss per share (further deteriorated from US$0.026 loss in 1Q 2025). Revenue: US$187.7m (down 2.5% from 1Q 2025). Net loss: US$6.60m (loss widened US$5.59m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year.New Risk • Apr 23New major risk - Revenue and earnings growthEarnings have declined by 8.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.9% per year over the past 5 years. Minor Risks Negative equity (-US$86m). Currently unprofitable and not forecast to become profitable next year (US$13m net loss next year).お知らせ • Apr 23Martin Midstream Partners L.P. Declares Quarterly Cash Distribution for the Quarter Ended March 31, 2026, Payable on May 15, 2026Martin Midstream Partners L.P. announced the partnership has declared a quarterly cash distribution of $0.005 per unit for the quarter ended March 31, 2026. The distribution is payable on May 15, 2026, to common unitholders of record as of the close of business on May 8, 2026. The ex-dividend date for the cash distribution is May 8, 2026.お知らせ • Apr 09Martin Midstream Partners L.P. to Report Q1, 2026 Results on Apr 22, 2026Martin Midstream Partners L.P. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Apr 22, 2026New Risk • Mar 22New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: US$90.5m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Negative equity (-US$86m). Currently unprofitable and not forecast to become profitable over next 2 years (US$9.8m net loss in 2 years). Market cap is less than US$100m (US$90.5m market cap).New Risk • Mar 12New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$14m Forecast net loss in 2 years: US$9.8m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Negative equity (-US$86m). Currently unprofitable and not forecast to become profitable over next 2 years (US$9.8m net loss in 2 years).Reported Earnings • Feb 19Full year 2025 earnings released: US$0.37 loss per share (vs US$0.13 loss in FY 2024)Full year 2025 results: US$0.37 loss per share (further deteriorated from US$0.13 loss in FY 2024). Revenue: US$716.1m (up 1.2% from FY 2024). Net loss: US$14.5m (loss widened 185% from FY 2024). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Declared Dividend • Jan 26Third quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 6th February 2026 Payment date: 13th February 2026 Dividend yield will be 0.7%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (2% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.お知らせ • Jan 23+ 1 more updateMartin Midstream Partners L.P. to Report Q4, 2025 Results on Feb 18, 2026Martin Midstream Partners L.P. announced that they will report Q4, 2025 results After-Market on Feb 18, 2026お知らせ • Dec 24Martin Midstream Partners L.P. Announces Management ChangesMartin Midstream Partners L.P. announced the retirement of Johnnie Murry, Senior Vice President, Land Transportation, effective December 31, 2025. Concurrently, the company announced the promotion of John Scott to the role of Vice President, Land Transportation, effective January 1, 2026. Johnnie Murry is stepping down after an extraordinary 49-year career in the industry, including 38 years with the Martin companies. He began his tenure on January 1, 1988, as Plant Manager at Berry Petroleum Company in South Arkansas. He transferred to Martin Transport Inc. in June 1999, assuming responsibility for the entire MTI trucking operation. His extensive 49-year industry career also includes 11 years with Crystal Oil Company. Johnnie Murry has been a valuable member of industry associations, including the American Trucking Association, National Tank Truck Carriers, Texas Trucking Association, and Florida Trucking Association. John Scott, who most recently served as Vice President of Sales and Business Development, will succeed Mr. Murry. Mr. Scott has dedicated 23 years of service to Martin Transport, starting his career in June 2002 as a Backup Dispatcher for Vidor, Texas. He steadily progressed through various roles of increasing responsibility, including Dispatch Supervisor, Dispatch Operations Manager, and Vice President of Operations, a position he held for nine years. In his new role as VP, Land Transportation, he will oversee all aspects of the land transportation division. Mr. Scott is also an active participant in industry organizations, including the Texas Trucking Association and the Florida Trucking Association.Buy Or Sell Opportunity • Dec 22Now 29% overvaluedOver the last 90 days, the stock has fallen 20% to US$2.50. The fair value is estimated to be US$1.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company became loss making.New Risk • Dec 16New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: US$98.4m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Negative equity (-US$83m). Market cap is less than US$100m (US$98.4m market cap).Declared Dividend • Oct 20Third quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th November 2025 Payment date: 14th November 2025 Dividend yield will be 0.8%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (2% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.Reported Earnings • Oct 18Third quarter 2025 earnings released: US$0.21 loss per share (vs US$0.083 loss in 3Q 2024)Third quarter 2025 results: US$0.21 loss per share (further deteriorated from US$0.083 loss in 3Q 2024). Revenue: US$168.7m (down 1.3% from 3Q 2024). Net loss: US$8.24m (loss widened 155% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.New Risk • Oct 16New major risk - Revenue and earnings growthEarnings have declined by 2.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 2.3% per year over the past 5 years. Minor Risk Negative equity (-US$74m).お知らせ • Oct 16Martin Midstream Partners L.P. Declares Cash Distribution for the Quarter Ended September 30, 2025, Payable on November 14, 2025Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended September 30, 2025. The distribution is payable on November 14, 2025, to common unitholders of record as of the close of business on November 7, 2025. The ex-dividend date for the cash distribution is November 7, 2025.お知らせ • Oct 07Martin Midstream Partners L.P. to Report Q3, 2025 Results on Oct 15, 2025Martin Midstream Partners L.P. announced that they will report Q3, 2025 results After-Market on Oct 15, 2025New Risk • Sep 30New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risk Negative equity (-US$74m).Buy Or Sell Opportunity • Aug 29Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 16% to US$3.43. The fair value is estimated to be US$2.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company became loss making.Buy Or Sell Opportunity • Aug 12Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 15% to US$3.44. The fair value is estimated to be US$2.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company became loss making.Breakeven Date Change • Jul 23Forecast to breakeven in 2026The analyst covering Martin Midstream Partners expects the company to break even for the first time. New forecast suggests losses will reduce by 30% to 2025. The company is expected to make a profit of US$2.19m in 2026. Average annual earnings growth of 154% is required to achieve expected profit on schedule.Declared Dividend • Jul 21Second quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th August 2025 Payment date: 14th August 2025 Dividend yield will be 0.7%, which is lower than the industry average of 4.5%.Reported Earnings • Jul 17Second quarter 2025 earnings released: US$0.06 loss per share (vs US$0.095 profit in 2Q 2024)Second quarter 2025 results: US$0.06 loss per share (down from US$0.095 profit in 2Q 2024). Revenue: US$180.7m (down 2.1% from 2Q 2024). Net loss: US$2.35m (down 164% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 13% per year.お知らせ • Jul 17Martin Midstream Partners L.P. Declares Quarterly Cash Distribution, Payable on August 14, 2025Martin Midstream Partners L.P. declared a quarterly cash distribution of $0.005 per unit for the quarter ended June 30, 2025. The distribution is payable on August 14, 2025, to common unitholders of record as of the close of business on August 7, 2025. The ex-dividend date for the cash distribution is August 7, 2025.お知らせ • Jul 02Martin Midstream Partners L.P. to Report Q2, 2025 Results on Jul 16, 2025Martin Midstream Partners L.P. announced that they will report Q2, 2025 results After-Market on Jul 16, 2025Declared Dividend • Apr 20First quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 8th May 2025 Payment date: 15th May 2025 Dividend yield will be 0.8%, which is lower than the industry average of 4.5%.Reported Earnings • Apr 17First quarter 2025 earnings released: US$0.026 loss per share (vs US$0.082 profit in 1Q 2024)First quarter 2025 results: US$0.026 loss per share (down from US$0.082 profit in 1Q 2024). Revenue: US$192.5m (up 6.5% from 1Q 2024). Net loss: US$1.02m (down 132% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 23% per year.お知らせ • Apr 17Martin Midstream Partners L.P. Declares Cash Distribution for the Quarter Ended March 31, 2025, Payable on May 15, 2025Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended March 31, 2025. The distribution is payable on May 15, 2025, to common unitholders of record as of the close of business on May 8, 2025. The ex-dividend date for the cash distribution is May 8, 2025.お知らせ • Apr 09Martin Midstream Partners L.P. to Report Q1, 2025 Results on Apr 16, 2025Martin Midstream Partners L.P. announced that they will report Q1, 2025 results After-Market on Apr 16, 2025Board Change • Mar 26Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director of Martin Midstream GP LLC Jim Collingsworth was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Jan 29Martin Midstream Partners L.P. to Report Q4, 2024 Results on Feb 12, 2025Martin Midstream Partners L.P. announced that they will report Q4, 2024 results After-Market on Feb 12, 2025お知らせ • Jan 22Martin Midstream Partners Announces Cash Distribution for the Quarter Ended December 31, 2024, Payable on February 14, 2025Martin Midstream Partners L.P. announced it has declared a quarterly cash distribution of $0.005 per unit for the quarter ended December 31, 2024. The distribution is payable on February 14, 2025, to common unitholders of record as of the close of business on February 7, 2025. The ex-dividend date for the cash distribution is February 7, 2025.Seeking Alpha • Jan 04Martin Midstream Partners LP: Better Opportunities ElsewhereSummary Martin Midstream Partners has a dismal long-term record. The parent company canceled its acquisition bid despite higher offers from hedge funds. Management's control over the partnership makes it difficult (impossible) for unit holders to influence decisions. The hedge funds highlighted potential gains for all unit holders. Unless there is an indication of a management change in strategy, this remains a strong sell. Read the full article on Seeking Alphaお知らせ • Dec 27Martin Resource Management Corporation cancelled the acquisition of remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from a group of shareholder.Martin Resource Management Corporation made a non-binding proposal to acquire remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from a group of shareholders for approximately $100 million on May 24, 2024. Martin Resource Management Corporation entered into a definitive agreement to acquire remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from a group of shareholders for approximately $130 million on October 3, 2024. Pursuant to the offer, MRMC would acquire all of the outstanding Common Units of MMLP not already owned by MRMC or its subsidiaries for a cash purchase price of $3.05 per Common Unit. As of October 3, 2024, all of the Martin Midstream's outstanding units will be converted into the right to receive $4.02 in cash. Martin Resource expects to fund the aggregate merger consideration and related transaction costs through its existing cash on hand, cash flow prior to the closing of the transaction, borrowings under existing credit facility, term loan in connection with the closing of the transaction, and from $5,000,000 in loans from certain members of it's management team. The buy-side termination fee equates to $6 million. The sell-side termination fee equates to $2.5 million. The transaction was unanimously approved by both buyer's and target' board. The transaction is subject to the approval of the shareholders of Martin Midstream and Martin Resource Management Corporation. The transaction is subject to the expiration or termination of waiting periods under applicable antitrust law and other regulatory approvals. Nut Tree and Caspian File Definitive Proxy Statement and Send Letter to Unitholders Urging them to Vote "AGAINST" the Merger at MMLP's Special Meeting to be Held on December 30, 2024. The transaction is expected to close by the end of 2024. As of December 6, 2024, Nut Tree Capital Management and Caspian Capital opposed the transaction. Wells Fargo Securities, LLC acted as financial advisor to Martin Resource Management Corporation. Houlihan Lokey, Inc. acted as financial advisor to GP Conflict Committee of Martin Midstream. A. Michael Hainsfurther of Munsch Hardt Kopf & Harr, P.C. and Potter Anderson & Corroon LLP acted as legal advisor to Martin Midstream Partners. Preston Bernhisel, Luke Weedon, Steve Marcus, Jason Loden and Michael Bodosky of Baker Botts L.L.P. acted as legal advisor to Martin Resource Management. Houlihan Lokey, Inc. acted as financial advisor to GP Conflict Committee of Martin Midstream. Innisfree M&A Incorporated acted as proxy solicitor to Martin Midstream Partners L.P. Wells Fargo Securities, LLC acted as fairness opinion provider to Martin Resource Management Corporation. Stuart Rogers of Alston & Bird acted as legal counsel for Wells Fargo Securities, LLC. Wells Fargo Securities, LLC received $3 million from Martin Resource for their role as financial advisor. Houlihan Lokey, Inc. received $1.25 million from Martin Midstream for their role as financial advisor. Houlihan Lokey, Inc. received $0.75 million from Martin Midstream for their role as fairness opinion provider. InnisFree received $30,000 from Martin Midstream for their role as Proxy Solicitor. Olshan Frome Wolosky LLP and Latham & Watkins LLP acted as legal counsel to Nut Tree and Caspian. Martin Resource Management Corporation cancelled the acquisition of remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from a group of shareholders on December 26, 2024.お知らせ • Dec 16Nut Tree Capital Management Sends Letter to Shareholders of Martin Midstream PartnersOn December 16, 2024, Nut Tree Capital Management L P, and Caspian Capital L P announced that they have sent a letter to Martin Midstream Partners L P, stating that it believes the Martin Midstream Partners L P’s merger with Martin Resource Management Corporation significantly undervalues the Company’s common units, and will strip value from Company’s common unitholders and unfairly transfer it to the Company’s insiders. Nut Tree Capital stating that remaining a standalone Company is the best path to enhancing value for Company unitholders, the financial analysis the Company’s general partners board relied upon was highly flawed and does not provide an accurate picture of the Company’s future prospects and distributions, Company’s leverage ratio is decreasing and approaching 3.75x, management’s previously stated target level and the threshold under Company’s bond covenants for permitting distributions. In addition, Nut Tree Capital urged the shareholders of the Company to vote against the merger at the Company’s upcoming special meeting of unitholders scheduled to be held on December 30, 2024.お知らせ • Dec 11Nut Tree Capital Management and Caspian Capital Release Presentation and Urge Vote Against MMLP MergeOn December 10, 2024, Nut Tree Capital Management L.P and Caspian Capital L.P., which together with their affiliates have combined exposure in Martin Midstream Partners L.P. released an investor presentation highlighting reasons why unitholders should vote “AGAINST” the deeply flawed merger of MMLP with Martin Resource Management Corporation (MRMC). The presentation details why MRMC’s proposed merger significantly undervalues MMLP, the deeply flawed valuation methodologies and financial analysis used to justify the inadequate merger consideration, and the major conflicts of interest that threaten to enrich company insiders at the expense of unitholders. Nut Tree and Caspian argued that remaining as a publicly traded MLP provides a path to superior value for MMLP unitholders, who stand to benefit from imminent and significant future distributions if MMLP remains independent. Nut Tree and Caspian urged unitholders to vote “AGAINST” MMLP’s merger with MRMC and encourage them to view the presentation at www.ProtectMMLPValue.com.お知らせ • Dec 10Nut Tree Capital Issues an Investor Presentation to the ShareholdersOn December 9, 2024, Nut Tree Capital Management L.P., and Caspian Capital L.P., have filed a definitive proxy statement and accompanying GOLD proxy card with the Securities and Exchange Commission to be used to solicit votes in connection with their opposition to proposals to be presented at a special meeting of common unitholders of Martin Midstream Partners L.P., in connection with the Company’s agreement and plan of merger with Martin Resource Management Corporation and certain of its affiliates. In addition, on December 8, 2024, Nut Tree and Caspian issued an Investor Presentation titled “The Case for Voting AGAINST the MMLP-MRMC Merger.New Risk • Nov 27New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Negative equity (-US$61m). Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding).New Risk • Oct 27New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Negative equity (-US$61m). Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding).新しいナラティブ • Oct 20Marine Transportation And Sulfur Services Fuel Revenue Growth Amid Challenges Higher inland day rates in Marine Transportation and strong sulfur volumes suggest potential for stable or improved revenue and cash flow. Declared Dividend • Oct 20Third quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th November 2024 Payment date: 14th November 2024 Dividend yield will be 0.5%, which is lower than the industry average of 4.5%.Reported Earnings • Oct 17Third quarter 2024 earnings: EPS and revenues miss analyst expectationsThird quarter 2024 results: US$0.084 loss per share (further deteriorated from US$0.027 loss in 3Q 2023). Revenue: US$170.9m (down 3.3% from 3Q 2023). Net loss: US$3.25m (loss widened 214% from 3Q 2023). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year.お知らせ • Oct 17Martin Midstream Partners L.P. Declares Quarterly Cash Distribution for the Quarter Ended September 30, 2024, Payable on November 14, 2024Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended September 30, 2024. The distribution is payable on November 14, 2024, to common unitholders of record as of the close of business on November 7, 2024. The ex-dividend date for the cash distribution is November 7, 2024.Major Estimate Revision • Oct 15Consensus EPS estimates increase by 23%, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$732.4m to US$724.2m. EPS estimate rose from US$0.13 to US$0.16. Net income forecast to grow 5.9% next year vs 6.8% growth forecast for Oil and Gas industry in the US. Consensus price target of US$4.00 unchanged from last update. Share price was steady at US$3.98 over the past week.お知らせ • Oct 08Martin Midstream Partners L.P. to Report Q3, 2024 Results on Oct 16, 2024Martin Midstream Partners L.P. announced that they will report Q3, 2024 results at 4:00 PM, US Eastern Standard Time on Oct 16, 2024Seeking Alpha • Sep 04Martin Midstream Partners: Increased Bid Likely Needed From Martin Resource ManagementSummary Martin Midstream received a revised $4.50 per unit offer from Nut Tree Capital Management and Caspian Capital. It remains in negotiations with Martin Resource Management Corporation, which previously made a $3.05 per unit offer. Martin's Q2 2024 business results were solid, slightly exceeding its adjusted EBITDA guidance despite $2+ million in negative impacts from accidents. Martin may be able to reduce its net debt by $1 per unit in 2025. I believe there is a good chance of an improved offer by Martin Resource Management Corporation and a deal by late 2024 to early 2025. Read the full article on Seeking AlphaMajor Estimate Revision • Jul 24Consensus EPS estimates fall by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$748.3m to US$727.7m. EPS estimate also fell from US$0.15 per share to US$0.13 per share. Net income forecast to shrink 9.7% next year vs 16% growth forecast for Oil and Gas industry in the US . Consensus price target of US$4.00 unchanged from last update. Share price fell 4.1% to US$3.51 over the past week.Declared Dividend • Jul 21Second quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th August 2024 Payment date: 14th August 2024 Dividend yield will be 0.5%, which is lower than the industry average of 4.5%. Payout Ratios Payout ratio: 12%. Cash payout ratio: 4%.Reported Earnings • Jul 18Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2024 results: EPS: US$0.095 (up from US$0.027 in 2Q 2023). Revenue: US$184.5m (down 5.7% from 2Q 2023). Net income: US$3.69m (up 250% from 2Q 2023). Profit margin: 2.0% (up from 0.5% in 2Q 2023). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year and the company’s share price has also increased by 6% per year.お知らせ • Jul 18Martin Midstream Partners L.P. Declares Cash Distribution for the Quarter Ended June 30, 2024, Payable on August 14, 2024Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended June 30, 2024. The distribution is payable on August 14, 2024 to common unitholders of record as of the close of business on August 7, 2024. The ex-dividend date for the cash distribution is August 7, 2024.お知らせ • Jul 11Caspian Capital, LP and Nut Tree Capital Management, LP entered into a letter of intent to acquire Martin Midstream Partners L.P. (NasdaqGS:MMLP) for $160 millionCaspian Capital, LP and Nut Tree Capital Management, LP entered into a letter of intent to acquire Martin Midstream Partners L.P. (NasdaqGS:MMLP) for $160 million on June 21, 2024. The transaction is not subject to any financing condition and would be financed through capital on hand.お知らせ • Jul 09Martin Midstream Partners L.P. to Report Q2, 2024 Results on Jul 17, 2024Martin Midstream Partners L.P. announced that they will report Q2, 2024 results After-Market on Jul 17, 2024Seeking Alpha • May 28Martin Midstream Partners Receives A Non-Binding Offer At $3.05 Per UnitSummary Martin Midstream Partners received a non-binding cash offer of $3.05 per unit from Martin Resource Management Corporation. This offer is only a 2% premium to MMLP's closing price before the offer was announced. I have estimated MMLP's value at $4.35 per unit, but that was based on late 2025. A 2024 deal for $3.75 to $4.00 per unit would be reasonable in my opinion. Read the full article on Seeking Alphaお知らせ • May 26Martin Resource Management Corporation made a non-binding proposal to acquire remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from Martin Product Sales LLC, Martin Resource LLC, Senterfitt Holdings Inc., Cross Oil Refining & Marketing, Inc. and others for approximately $100 million.Martin Resource Management Corporation made a non-binding proposal to acquire remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from Martin Product Sales LLC, Martin Resource LLC, Senterfitt Holdings Inc., Cross Oil Refining & Marketing, Inc. and others for approximately $100 million on May 24, 2024. Pursuant to the offer, MRMC would acquire all of the outstanding Common Units of MMLP not already owned by MRMC or its subsidiaries for a cash purchase price of $3.05 per Common Unit. The proposed transaction is subject to several contingencies, including the approval of the Conflicts Committee and the GP Board, the approval by MMLP’s unitholders, and the satisfaction of any conditions to the consummation of a transaction set forth in any definitive agreement concerning the transaction.Declared Dividend • Apr 22First quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th May 2024 Payment date: 15th May 2024 Dividend yield will be 0.7%, which is lower than the industry average of 4.5%. Payout Ratios Payout ratio: 21%. Cash payout ratio: 1%.Reported Earnings • Apr 18First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: US$0.082 (up from US$0.13 loss in 1Q 2023). Revenue: US$180.8m (down 26% from 1Q 2023). Net income: US$3.20m (up US$8.16m from 1Q 2023). Profit margin: 1.8% (up from net loss in 1Q 2023). Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) exceeded analyst estimates by 33%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 3% per year.お知らせ • Apr 18Martin Midstream Partners L.P. Declares Quarterly Cash Distribution, Payable on May 15, 2024Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended March 31, 2024. The distribution is payable on May 15, 2024 to common unitholders of record as of the close of business on May 8, 2024. The ex-dividend date for the cash distribution is May 7, 2024.お知らせ • Apr 05Martin Midstream Partners L.P. to Report Q1, 2024 Results on Apr 17, 2024Martin Midstream Partners L.P. announced that they will report Q1, 2024 results After-Market on Apr 17, 2024Seeking Alpha • Apr 04Martin Midstream Partners: 2024 Is Expected To Be An Investment YearSummary Martin Midstream beat its 2023 adjusted EBITDA expectations by a couple percent. It expects similar 2024 adjusted EBITDA results, but free cash flow may be limited due to growth capex spending and higher than average maintenance capex. Martin's 2025 outlook looks stronger, and it may be able to generate over $1 per unit in distributable cash flow then. I am anticipating a possible 2H 2025 distribution increase. Until Martin increases its quarterly distribution substantially from its current $0.005 per unit, investor interest is likely to remain limited though. Read the full article on Seeking AlphaReported Earnings • Feb 15Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: US$0.12 loss per share (improved from US$0.26 loss in FY 2022). Revenue: US$798.0m (down 22% from FY 2022). Net loss: US$4.44m (loss narrowed 56% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 35%. Revenue is expected to decline by 4.1% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.0%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Declared Dividend • Jan 26Third quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 6th February 2024 Payment date: 14th February 2024 Dividend yield will be 0.9%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (0.7243% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.お知らせ • Jan 24Martin Midstream Partners L.P. Declares Quarterly Cash Distribution for the Quarter Ended December 31, 2023, Payable on February 14, 2024Martin Midstream Partners L.P. announced it has declared a quarterly cash distribution of $0.005 per unit for the quarter ended December 31, 2023. The distribution is payable on February 14, 2024 to common unitholders of record as of the close of business on February 7, 2024. The ex-dividend date for the cash distribution is February 6, 2024.お知らせ • Jan 18Martin Midstream Partners L.P. to Report Q4, 2023 Results on Feb 14, 2024Martin Midstream Partners L.P. announced that they will report Q4, 2023 results After-Market on Feb 14, 2024Recent Insider Transactions • Nov 17Key Executive recently bought US$78k worth of stockOn the 13th of November, Ruben Martin bought around 31k shares on-market at roughly US$2.49 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$211k. Ruben has been a buyer over the last 12 months, purchasing a net total of US$1.6m worth in shares.Recent Insider Transactions • Oct 25Key Executive recently bought US$60k worth of stockOn the 23rd of October, Randall Tauscher bought around 25k shares on-market at roughly US$2.37 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth US$211k. Randall has been a buyer over the last 12 months, purchasing a net total of US$100k worth in shares.Reported Earnings • Oct 20Third quarter 2023 earnings released: US$0.027 loss per share (vs US$0.71 loss in 3Q 2022)Third quarter 2023 results: US$0.027 loss per share (improved from US$0.71 loss in 3Q 2022). Revenue: US$176.7m (down 23% from 3Q 2022). Net loss: US$1.04m (loss narrowed 96% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.お知らせ • Oct 19Martin Midstream Partners L.P. Declares Quarterly Cash Distribution for the Third Quarter Ended September 30, 2023, Payable on November 14, 2023Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the third quarter ended September 30, 2023 or $0.020 per common unit annually. The distribution is payable on November 14, 2023, to common unitholders of record as of the close of business on November 7, 2023. The ex-dividend date for the cash distribution is November 6, 2023.New Risk • Oct 06New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: US$96.5m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Earnings have declined by 2.5% per year over the past 5 years. Minor Risks Negative equity (-US$64m). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$96.5m market cap).お知らせ • Sep 29Martin Midstream Partners L.P. to Report Q3, 2023 Results on Oct 18, 2023Martin Midstream Partners L.P. announced that they will report Q3, 2023 results After-Market on Oct 18, 2023Recent Insider Transactions • Sep 15Key Executive recently bought US$109k worth of stockOn the 12th of September, Ruben Martin bought around 36k shares on-market at roughly US$3.00 per share. This transaction amounted to 1.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$731k. Ruben has been a buyer over the last 12 months, purchasing a net total of US$1.5m worth in shares.Recent Insider Transactions • Sep 06Key Executive recently bought US$211k worth of stockOn the 1st of September, Ruben Martin bought around 71k shares on-market at roughly US$2.97 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$731k. Ruben has been a buyer over the last 12 months, purchasing a net total of US$1.4m worth in shares.Recent Insider Transactions • Jul 28Key Executive recently bought US$731k worth of stockOn the 25th of July, Ruben Martin bought around 333k shares on-market at roughly US$2.20 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ruben has been a buyer over the last 12 months, purchasing a net total of US$1.2m worth in shares.お知らせ • Jul 22Martin Midstream Partners L.P. Declares A Quarterly Cash Distribution for the Quarter Ended June 30, 2023, Payable on August 14, 2023Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended June 30, 2023. The distribution is payable on August 14, 2023 to common unitholders of record as of the close of business on August 7, 2023. The ex-dividend date for the cash distribution is August 4, 2023.New Risk • Jul 21New major risk - Revenue and earnings growthEarnings have declined by 2.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Earnings have declined by 2.5% per year over the past 5 years. Minor Risks Negative equity (-US$64m). Market cap is less than US$100m (US$84.4m market cap).Reported Earnings • Jul 20Second quarter 2023 earnings released: EPS: US$0.027 (vs US$0.17 in 2Q 2022)Second quarter 2023 results: EPS: US$0.027 (down from US$0.17 in 2Q 2022). Revenue: US$195.6m (down 27% from 2Q 2022). Net income: US$1.06m (down 84% from 2Q 2022). Profit margin: 0.5% (down from 2.4% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.お知らせ • Jul 07Martin Midstream Partners L.P. to Report Q2, 2023 Results on Jul 19, 2023Martin Midstream Partners L.P. announced that they will report Q2, 2023 results After-Market on Jul 19, 2023Reported Earnings • Apr 20First quarter 2023 earnings released: US$0.13 loss per share (vs US$0.29 profit in 1Q 2022)First quarter 2023 results: US$0.13 loss per share (down from US$0.29 profit in 1Q 2022). Revenue: US$244.5m (down 12% from 1Q 2022). Net loss: US$4.97m (down 144% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.Reported Earnings • Feb 17Full year 2022 earnings released: US$0.26 loss per share (vs US$0.005 loss in FY 2021)Full year 2022 results: US$0.26 loss per share (further deteriorated from US$0.005 loss in FY 2021). Revenue: US$1.02b (up 16% from FY 2021). Net loss: US$10.2m (loss widened US$9.96m from FY 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.お知らせ • Feb 10Martin Midstream Partners L.P. to Report Q4, 2022 Results on Feb 15, 2023Martin Midstream Partners L.P. announced that they will report Q4, 2022 results After-Market on Feb 15, 2023お知らせ • Jan 24Martin Midstream Partners L.P. Announces Quarterly Cash Distribution, Payable on February 14, 2023Martin Midstream Partners L.P. announced it has declared a quarterly cash distribution of $0.005 per unit for the quarter ended December 31, 2022. The distribution is payable on February 14, 2023 to common unitholders of record as of the close of business on February 7, 2023. The ex-dividend date for the cash distribution is February 6, 2023.Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director of Martin Midstream GP LLC Jim Collingsworth was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Recent Insider Transactions • Nov 10Chairman of Martin Midstream GP LLC recently bought US$413k worth of stockOn the 8th of November, Ruben Martin bought around 134k shares on-market at roughly US$3.08 per share. This transaction amounted to 4.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ruben has been a buyer over the last 12 months, purchasing a net total of US$2.0m worth in shares.Reported Earnings • Nov 04Third quarter 2022 earnings released: US$0.71 loss per share (vs US$0.17 loss in 3Q 2021)Third quarter 2022 results: US$0.71 loss per share (further deteriorated from US$0.17 loss in 3Q 2021). Revenue: US$229.3m (up 8.5% from 3Q 2021). Net loss: US$27.6m (loss widened 308% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.お知らせ • Oct 19Martin Midstream Partners L.P. Announces Quarterly Cash Distribution, Payable on November 14, 2022Martin Midstream Partners L.P. announced it has declared a quarterly cash distribution of $0.005 per unit for the quarter ended September 30, 2022. The distribution is payable on November 14, 2022 to common unitholders of record as of the close of business on November 7, 2022. The ex-dividend date for the cash distribution is November 4, 2022.Seeking Alpha • Oct 19Martin Midstream Partners declares $0.005 dividendMartin Midstream Partners (NASDAQ:MMLP) declares $0.005/share quarterly dividend, in line with previous. Forward yield 0.64% Payable Nov. 14; for shareholders of record Nov. 7; ex-div Nov. 4. See MMLP Dividend Scorecard, Yield Chart, & Dividend Growth.お知らせ • Oct 18Martin Midstream Partners L.P. to Report Q3, 2022 Results on Nov 02, 2022Martin Midstream Partners L.P. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 02, 2022 このセクションでは通常、投資家が会社の利益創出能力を理解する一助となるよう、プロのアナリストのコンセンサス予想に基づく収益と利益の成長予測を提示する。しかし、Martin Midstream Partners は十分な過去のデータを提供しておらず、アナリストの予測もないため、過去のデータを外挿したり、アナリストの予測を使用しても、その将来の収益を確実に算出することはできません。 シンプリー・ウォール・ストリートがカバーする企業の97%は過去の財務データを持っているため、これはかなり稀な状況です。 業績と収益の成長予測NasdaqGS:MMLP - アナリストの将来予測と過去の財務データ ( )USD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数6/30/2026744-15-1120N/A3/31/2026711-201238N/A12/31/2025716-142146N/A9/30/2025713-204066N/A6/30/2025715-152251N/A3/31/2025719-9-432N/A12/31/2024708-5648N/A9/30/20247174-538N/A6/30/202472361961N/A3/31/202473446098N/A12/31/2023798-4103137N/A9/30/2023860-5107139N/A6/30/2023913-325786N/A3/31/2023984-261237N/A12/31/20221,019-10-1116N/A9/30/20221,0611631N/A6/30/20221,043213658N/A3/31/202296193660N/A12/31/202188202036N/A9/30/2021777-131733N/A6/30/2021718-17826N/A3/31/2021674-13524N/A12/31/2020672-73665N/A9/30/202073423869N/A6/30/2020759265288N/A3/31/202080621N/A80N/A12/31/20198478N/A76N/A9/30/20198720N/A86N/A6/30/2019929-25N/A68N/A3/31/2019968-30N/A86N/A12/31/20181,020-20N/A105N/A9/30/20181,059-2N/A85N/A6/30/20181,018-8N/A91N/A3/31/20189855N/A70N/A12/31/2017973-4N/A69N/A9/30/201787713N/A77N/A6/30/201785931N/A82N/A3/31/201785525N/A122N/A12/31/201682718N/A111N/A9/30/20168458N/A131N/A6/30/20168969N/A153N/A3/31/201695721N/A181N/A12/31/20151,03721N/A183N/A9/30/20151,15921N/A176N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: MMLPの予測収益成長が 貯蓄率 ( 3.5% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: MMLPの収益がUS市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: MMLPの収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: MMLPの収益がUS市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。高い収益成長: MMLPの収益が年間20%よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。一株当たり利益成長率予想将来の株主資本利益率将来のROE: MMLPの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YEnergy 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/31 08:20終値2026/07/31 00:00収益2026/06/30年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Martin Midstream Partners L.P. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。11 アナリスト機関Ethan BellamyBairdMichael GyureBrean Capital Historical (Janney Montgomery)Robert BalsamoB. Riley Securities, Inc.8 その他のアナリストを表示
Breakeven Date Change • Jul 23Forecast to breakeven in 2026The analyst covering Martin Midstream Partners expects the company to break even for the first time. New forecast suggests losses will reduce by 30% to 2025. The company is expected to make a profit of US$2.19m in 2026. Average annual earnings growth of 154% is required to achieve expected profit on schedule.
Major Estimate Revision • Oct 15Consensus EPS estimates increase by 23%, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$732.4m to US$724.2m. EPS estimate rose from US$0.13 to US$0.16. Net income forecast to grow 5.9% next year vs 6.8% growth forecast for Oil and Gas industry in the US. Consensus price target of US$4.00 unchanged from last update. Share price was steady at US$3.98 over the past week.
Major Estimate Revision • Jul 24Consensus EPS estimates fall by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$748.3m to US$727.7m. EPS estimate also fell from US$0.15 per share to US$0.13 per share. Net income forecast to shrink 9.7% next year vs 16% growth forecast for Oil and Gas industry in the US . Consensus price target of US$4.00 unchanged from last update. Share price fell 4.1% to US$3.51 over the past week.
Declared Dividend • Jul 26Second quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th August 2026 Payment date: 14th August 2026 Dividend yield will be 0.8%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.
New Risk • Jul 24New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$11m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$11m free cash flow). Earnings have declined by 19% per year over the past 5 years. Minor Risks Negative equity (-US$90m). Market cap is less than US$100m (US$97.4m market cap).
Reported Earnings • Jul 24Second quarter 2026 earnings released: EPS: US$0.066 (vs US$0.06 loss in 2Q 2025)Second quarter 2026 results: EPS: US$0.066 (up from US$0.06 loss in 2Q 2025). Revenue: US$213.6m (up 18% from 2Q 2025). Net income: US$2.58m (up US$4.93m from 2Q 2025). Profit margin: 1.2% (up from net loss in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
New Risk • Jul 13New major risk - Revenue and earnings growthEarnings have declined by 13% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Negative equity (-US$93m). Market cap is less than US$100m (US$89.0m market cap).
お知らせ • Jul 08Martin Midstream Partners L.P. to Report Q2, 2026 Results on Jul 22, 2026Martin Midstream Partners L.P. announced that they will report Q2, 2026 results After-Market on Jul 22, 2026
Seeking Alpha • May 19Martin Midstream Partners: Lowers Guidance After Challenging Start To 2026Summary Martin Midstream reported $20.8 million in Q1 2026 adjusted EBITDA, down from $27.8 million in Q1 2025. This contributed to a $6.5 million reduction in its full-year adjusted EBITDA guidance as it deals with challenges in its fertilizer and land transportation businesses. Martin received a credit rating downgrade from S&P. I anticipate that it can refinance its November 2027 and February 2028 debt maturities, but it may not save on its interest costs. This increases the likelihood that its distribution will remain minimal for years to come. Read the full article on Seeking Alpha
Declared Dividend • Apr 26First quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 8th May 2026 Payment date: 15th May 2026 Dividend yield will be 0.8%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (7% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.
Reported Earnings • Apr 24First quarter 2026 earnings released: US$0.17 loss per share (vs US$0.026 loss in 1Q 2025)First quarter 2026 results: US$0.17 loss per share (further deteriorated from US$0.026 loss in 1Q 2025). Revenue: US$187.7m (down 2.5% from 1Q 2025). Net loss: US$6.60m (loss widened US$5.59m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year.
New Risk • Apr 23New major risk - Revenue and earnings growthEarnings have declined by 8.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.9% per year over the past 5 years. Minor Risks Negative equity (-US$86m). Currently unprofitable and not forecast to become profitable next year (US$13m net loss next year).
お知らせ • Apr 23Martin Midstream Partners L.P. Declares Quarterly Cash Distribution for the Quarter Ended March 31, 2026, Payable on May 15, 2026Martin Midstream Partners L.P. announced the partnership has declared a quarterly cash distribution of $0.005 per unit for the quarter ended March 31, 2026. The distribution is payable on May 15, 2026, to common unitholders of record as of the close of business on May 8, 2026. The ex-dividend date for the cash distribution is May 8, 2026.
お知らせ • Apr 09Martin Midstream Partners L.P. to Report Q1, 2026 Results on Apr 22, 2026Martin Midstream Partners L.P. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Apr 22, 2026
New Risk • Mar 22New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: US$90.5m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Negative equity (-US$86m). Currently unprofitable and not forecast to become profitable over next 2 years (US$9.8m net loss in 2 years). Market cap is less than US$100m (US$90.5m market cap).
New Risk • Mar 12New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$14m Forecast net loss in 2 years: US$9.8m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Negative equity (-US$86m). Currently unprofitable and not forecast to become profitable over next 2 years (US$9.8m net loss in 2 years).
Reported Earnings • Feb 19Full year 2025 earnings released: US$0.37 loss per share (vs US$0.13 loss in FY 2024)Full year 2025 results: US$0.37 loss per share (further deteriorated from US$0.13 loss in FY 2024). Revenue: US$716.1m (up 1.2% from FY 2024). Net loss: US$14.5m (loss widened 185% from FY 2024). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Jan 26Third quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 6th February 2026 Payment date: 13th February 2026 Dividend yield will be 0.7%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (2% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.
お知らせ • Jan 23+ 1 more updateMartin Midstream Partners L.P. to Report Q4, 2025 Results on Feb 18, 2026Martin Midstream Partners L.P. announced that they will report Q4, 2025 results After-Market on Feb 18, 2026
お知らせ • Dec 24Martin Midstream Partners L.P. Announces Management ChangesMartin Midstream Partners L.P. announced the retirement of Johnnie Murry, Senior Vice President, Land Transportation, effective December 31, 2025. Concurrently, the company announced the promotion of John Scott to the role of Vice President, Land Transportation, effective January 1, 2026. Johnnie Murry is stepping down after an extraordinary 49-year career in the industry, including 38 years with the Martin companies. He began his tenure on January 1, 1988, as Plant Manager at Berry Petroleum Company in South Arkansas. He transferred to Martin Transport Inc. in June 1999, assuming responsibility for the entire MTI trucking operation. His extensive 49-year industry career also includes 11 years with Crystal Oil Company. Johnnie Murry has been a valuable member of industry associations, including the American Trucking Association, National Tank Truck Carriers, Texas Trucking Association, and Florida Trucking Association. John Scott, who most recently served as Vice President of Sales and Business Development, will succeed Mr. Murry. Mr. Scott has dedicated 23 years of service to Martin Transport, starting his career in June 2002 as a Backup Dispatcher for Vidor, Texas. He steadily progressed through various roles of increasing responsibility, including Dispatch Supervisor, Dispatch Operations Manager, and Vice President of Operations, a position he held for nine years. In his new role as VP, Land Transportation, he will oversee all aspects of the land transportation division. Mr. Scott is also an active participant in industry organizations, including the Texas Trucking Association and the Florida Trucking Association.
Buy Or Sell Opportunity • Dec 22Now 29% overvaluedOver the last 90 days, the stock has fallen 20% to US$2.50. The fair value is estimated to be US$1.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company became loss making.
New Risk • Dec 16New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: US$98.4m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Negative equity (-US$83m). Market cap is less than US$100m (US$98.4m market cap).
Declared Dividend • Oct 20Third quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th November 2025 Payment date: 14th November 2025 Dividend yield will be 0.8%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (2% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.
Reported Earnings • Oct 18Third quarter 2025 earnings released: US$0.21 loss per share (vs US$0.083 loss in 3Q 2024)Third quarter 2025 results: US$0.21 loss per share (further deteriorated from US$0.083 loss in 3Q 2024). Revenue: US$168.7m (down 1.3% from 3Q 2024). Net loss: US$8.24m (loss widened 155% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
New Risk • Oct 16New major risk - Revenue and earnings growthEarnings have declined by 2.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 2.3% per year over the past 5 years. Minor Risk Negative equity (-US$74m).
お知らせ • Oct 16Martin Midstream Partners L.P. Declares Cash Distribution for the Quarter Ended September 30, 2025, Payable on November 14, 2025Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended September 30, 2025. The distribution is payable on November 14, 2025, to common unitholders of record as of the close of business on November 7, 2025. The ex-dividend date for the cash distribution is November 7, 2025.
お知らせ • Oct 07Martin Midstream Partners L.P. to Report Q3, 2025 Results on Oct 15, 2025Martin Midstream Partners L.P. announced that they will report Q3, 2025 results After-Market on Oct 15, 2025
New Risk • Sep 30New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risk Negative equity (-US$74m).
Buy Or Sell Opportunity • Aug 29Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 16% to US$3.43. The fair value is estimated to be US$2.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company became loss making.
Buy Or Sell Opportunity • Aug 12Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 15% to US$3.44. The fair value is estimated to be US$2.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company became loss making.
Breakeven Date Change • Jul 23Forecast to breakeven in 2026The analyst covering Martin Midstream Partners expects the company to break even for the first time. New forecast suggests losses will reduce by 30% to 2025. The company is expected to make a profit of US$2.19m in 2026. Average annual earnings growth of 154% is required to achieve expected profit on schedule.
Declared Dividend • Jul 21Second quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th August 2025 Payment date: 14th August 2025 Dividend yield will be 0.7%, which is lower than the industry average of 4.5%.
Reported Earnings • Jul 17Second quarter 2025 earnings released: US$0.06 loss per share (vs US$0.095 profit in 2Q 2024)Second quarter 2025 results: US$0.06 loss per share (down from US$0.095 profit in 2Q 2024). Revenue: US$180.7m (down 2.1% from 2Q 2024). Net loss: US$2.35m (down 164% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 13% per year.
お知らせ • Jul 17Martin Midstream Partners L.P. Declares Quarterly Cash Distribution, Payable on August 14, 2025Martin Midstream Partners L.P. declared a quarterly cash distribution of $0.005 per unit for the quarter ended June 30, 2025. The distribution is payable on August 14, 2025, to common unitholders of record as of the close of business on August 7, 2025. The ex-dividend date for the cash distribution is August 7, 2025.
お知らせ • Jul 02Martin Midstream Partners L.P. to Report Q2, 2025 Results on Jul 16, 2025Martin Midstream Partners L.P. announced that they will report Q2, 2025 results After-Market on Jul 16, 2025
Declared Dividend • Apr 20First quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 8th May 2025 Payment date: 15th May 2025 Dividend yield will be 0.8%, which is lower than the industry average of 4.5%.
Reported Earnings • Apr 17First quarter 2025 earnings released: US$0.026 loss per share (vs US$0.082 profit in 1Q 2024)First quarter 2025 results: US$0.026 loss per share (down from US$0.082 profit in 1Q 2024). Revenue: US$192.5m (up 6.5% from 1Q 2024). Net loss: US$1.02m (down 132% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 23% per year.
お知らせ • Apr 17Martin Midstream Partners L.P. Declares Cash Distribution for the Quarter Ended March 31, 2025, Payable on May 15, 2025Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended March 31, 2025. The distribution is payable on May 15, 2025, to common unitholders of record as of the close of business on May 8, 2025. The ex-dividend date for the cash distribution is May 8, 2025.
お知らせ • Apr 09Martin Midstream Partners L.P. to Report Q1, 2025 Results on Apr 16, 2025Martin Midstream Partners L.P. announced that they will report Q1, 2025 results After-Market on Apr 16, 2025
Board Change • Mar 26Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director of Martin Midstream GP LLC Jim Collingsworth was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Jan 29Martin Midstream Partners L.P. to Report Q4, 2024 Results on Feb 12, 2025Martin Midstream Partners L.P. announced that they will report Q4, 2024 results After-Market on Feb 12, 2025
お知らせ • Jan 22Martin Midstream Partners Announces Cash Distribution for the Quarter Ended December 31, 2024, Payable on February 14, 2025Martin Midstream Partners L.P. announced it has declared a quarterly cash distribution of $0.005 per unit for the quarter ended December 31, 2024. The distribution is payable on February 14, 2025, to common unitholders of record as of the close of business on February 7, 2025. The ex-dividend date for the cash distribution is February 7, 2025.
Seeking Alpha • Jan 04Martin Midstream Partners LP: Better Opportunities ElsewhereSummary Martin Midstream Partners has a dismal long-term record. The parent company canceled its acquisition bid despite higher offers from hedge funds. Management's control over the partnership makes it difficult (impossible) for unit holders to influence decisions. The hedge funds highlighted potential gains for all unit holders. Unless there is an indication of a management change in strategy, this remains a strong sell. Read the full article on Seeking Alpha
お知らせ • Dec 27Martin Resource Management Corporation cancelled the acquisition of remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from a group of shareholder.Martin Resource Management Corporation made a non-binding proposal to acquire remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from a group of shareholders for approximately $100 million on May 24, 2024. Martin Resource Management Corporation entered into a definitive agreement to acquire remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from a group of shareholders for approximately $130 million on October 3, 2024. Pursuant to the offer, MRMC would acquire all of the outstanding Common Units of MMLP not already owned by MRMC or its subsidiaries for a cash purchase price of $3.05 per Common Unit. As of October 3, 2024, all of the Martin Midstream's outstanding units will be converted into the right to receive $4.02 in cash. Martin Resource expects to fund the aggregate merger consideration and related transaction costs through its existing cash on hand, cash flow prior to the closing of the transaction, borrowings under existing credit facility, term loan in connection with the closing of the transaction, and from $5,000,000 in loans from certain members of it's management team. The buy-side termination fee equates to $6 million. The sell-side termination fee equates to $2.5 million. The transaction was unanimously approved by both buyer's and target' board. The transaction is subject to the approval of the shareholders of Martin Midstream and Martin Resource Management Corporation. The transaction is subject to the expiration or termination of waiting periods under applicable antitrust law and other regulatory approvals. Nut Tree and Caspian File Definitive Proxy Statement and Send Letter to Unitholders Urging them to Vote "AGAINST" the Merger at MMLP's Special Meeting to be Held on December 30, 2024. The transaction is expected to close by the end of 2024. As of December 6, 2024, Nut Tree Capital Management and Caspian Capital opposed the transaction. Wells Fargo Securities, LLC acted as financial advisor to Martin Resource Management Corporation. Houlihan Lokey, Inc. acted as financial advisor to GP Conflict Committee of Martin Midstream. A. Michael Hainsfurther of Munsch Hardt Kopf & Harr, P.C. and Potter Anderson & Corroon LLP acted as legal advisor to Martin Midstream Partners. Preston Bernhisel, Luke Weedon, Steve Marcus, Jason Loden and Michael Bodosky of Baker Botts L.L.P. acted as legal advisor to Martin Resource Management. Houlihan Lokey, Inc. acted as financial advisor to GP Conflict Committee of Martin Midstream. Innisfree M&A Incorporated acted as proxy solicitor to Martin Midstream Partners L.P. Wells Fargo Securities, LLC acted as fairness opinion provider to Martin Resource Management Corporation. Stuart Rogers of Alston & Bird acted as legal counsel for Wells Fargo Securities, LLC. Wells Fargo Securities, LLC received $3 million from Martin Resource for their role as financial advisor. Houlihan Lokey, Inc. received $1.25 million from Martin Midstream for their role as financial advisor. Houlihan Lokey, Inc. received $0.75 million from Martin Midstream for their role as fairness opinion provider. InnisFree received $30,000 from Martin Midstream for their role as Proxy Solicitor. Olshan Frome Wolosky LLP and Latham & Watkins LLP acted as legal counsel to Nut Tree and Caspian. Martin Resource Management Corporation cancelled the acquisition of remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from a group of shareholders on December 26, 2024.
お知らせ • Dec 16Nut Tree Capital Management Sends Letter to Shareholders of Martin Midstream PartnersOn December 16, 2024, Nut Tree Capital Management L P, and Caspian Capital L P announced that they have sent a letter to Martin Midstream Partners L P, stating that it believes the Martin Midstream Partners L P’s merger with Martin Resource Management Corporation significantly undervalues the Company’s common units, and will strip value from Company’s common unitholders and unfairly transfer it to the Company’s insiders. Nut Tree Capital stating that remaining a standalone Company is the best path to enhancing value for Company unitholders, the financial analysis the Company’s general partners board relied upon was highly flawed and does not provide an accurate picture of the Company’s future prospects and distributions, Company’s leverage ratio is decreasing and approaching 3.75x, management’s previously stated target level and the threshold under Company’s bond covenants for permitting distributions. In addition, Nut Tree Capital urged the shareholders of the Company to vote against the merger at the Company’s upcoming special meeting of unitholders scheduled to be held on December 30, 2024.
お知らせ • Dec 11Nut Tree Capital Management and Caspian Capital Release Presentation and Urge Vote Against MMLP MergeOn December 10, 2024, Nut Tree Capital Management L.P and Caspian Capital L.P., which together with their affiliates have combined exposure in Martin Midstream Partners L.P. released an investor presentation highlighting reasons why unitholders should vote “AGAINST” the deeply flawed merger of MMLP with Martin Resource Management Corporation (MRMC). The presentation details why MRMC’s proposed merger significantly undervalues MMLP, the deeply flawed valuation methodologies and financial analysis used to justify the inadequate merger consideration, and the major conflicts of interest that threaten to enrich company insiders at the expense of unitholders. Nut Tree and Caspian argued that remaining as a publicly traded MLP provides a path to superior value for MMLP unitholders, who stand to benefit from imminent and significant future distributions if MMLP remains independent. Nut Tree and Caspian urged unitholders to vote “AGAINST” MMLP’s merger with MRMC and encourage them to view the presentation at www.ProtectMMLPValue.com.
お知らせ • Dec 10Nut Tree Capital Issues an Investor Presentation to the ShareholdersOn December 9, 2024, Nut Tree Capital Management L.P., and Caspian Capital L.P., have filed a definitive proxy statement and accompanying GOLD proxy card with the Securities and Exchange Commission to be used to solicit votes in connection with their opposition to proposals to be presented at a special meeting of common unitholders of Martin Midstream Partners L.P., in connection with the Company’s agreement and plan of merger with Martin Resource Management Corporation and certain of its affiliates. In addition, on December 8, 2024, Nut Tree and Caspian issued an Investor Presentation titled “The Case for Voting AGAINST the MMLP-MRMC Merger.
New Risk • Nov 27New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Negative equity (-US$61m). Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding).
New Risk • Oct 27New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Negative equity (-US$61m). Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding).
新しいナラティブ • Oct 20Marine Transportation And Sulfur Services Fuel Revenue Growth Amid Challenges Higher inland day rates in Marine Transportation and strong sulfur volumes suggest potential for stable or improved revenue and cash flow.
Declared Dividend • Oct 20Third quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th November 2024 Payment date: 14th November 2024 Dividend yield will be 0.5%, which is lower than the industry average of 4.5%.
Reported Earnings • Oct 17Third quarter 2024 earnings: EPS and revenues miss analyst expectationsThird quarter 2024 results: US$0.084 loss per share (further deteriorated from US$0.027 loss in 3Q 2023). Revenue: US$170.9m (down 3.3% from 3Q 2023). Net loss: US$3.25m (loss widened 214% from 3Q 2023). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year.
お知らせ • Oct 17Martin Midstream Partners L.P. Declares Quarterly Cash Distribution for the Quarter Ended September 30, 2024, Payable on November 14, 2024Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended September 30, 2024. The distribution is payable on November 14, 2024, to common unitholders of record as of the close of business on November 7, 2024. The ex-dividend date for the cash distribution is November 7, 2024.
Major Estimate Revision • Oct 15Consensus EPS estimates increase by 23%, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$732.4m to US$724.2m. EPS estimate rose from US$0.13 to US$0.16. Net income forecast to grow 5.9% next year vs 6.8% growth forecast for Oil and Gas industry in the US. Consensus price target of US$4.00 unchanged from last update. Share price was steady at US$3.98 over the past week.
お知らせ • Oct 08Martin Midstream Partners L.P. to Report Q3, 2024 Results on Oct 16, 2024Martin Midstream Partners L.P. announced that they will report Q3, 2024 results at 4:00 PM, US Eastern Standard Time on Oct 16, 2024
Seeking Alpha • Sep 04Martin Midstream Partners: Increased Bid Likely Needed From Martin Resource ManagementSummary Martin Midstream received a revised $4.50 per unit offer from Nut Tree Capital Management and Caspian Capital. It remains in negotiations with Martin Resource Management Corporation, which previously made a $3.05 per unit offer. Martin's Q2 2024 business results were solid, slightly exceeding its adjusted EBITDA guidance despite $2+ million in negative impacts from accidents. Martin may be able to reduce its net debt by $1 per unit in 2025. I believe there is a good chance of an improved offer by Martin Resource Management Corporation and a deal by late 2024 to early 2025. Read the full article on Seeking Alpha
Major Estimate Revision • Jul 24Consensus EPS estimates fall by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$748.3m to US$727.7m. EPS estimate also fell from US$0.15 per share to US$0.13 per share. Net income forecast to shrink 9.7% next year vs 16% growth forecast for Oil and Gas industry in the US . Consensus price target of US$4.00 unchanged from last update. Share price fell 4.1% to US$3.51 over the past week.
Declared Dividend • Jul 21Second quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th August 2024 Payment date: 14th August 2024 Dividend yield will be 0.5%, which is lower than the industry average of 4.5%. Payout Ratios Payout ratio: 12%. Cash payout ratio: 4%.
Reported Earnings • Jul 18Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2024 results: EPS: US$0.095 (up from US$0.027 in 2Q 2023). Revenue: US$184.5m (down 5.7% from 2Q 2023). Net income: US$3.69m (up 250% from 2Q 2023). Profit margin: 2.0% (up from 0.5% in 2Q 2023). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year and the company’s share price has also increased by 6% per year.
お知らせ • Jul 18Martin Midstream Partners L.P. Declares Cash Distribution for the Quarter Ended June 30, 2024, Payable on August 14, 2024Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended June 30, 2024. The distribution is payable on August 14, 2024 to common unitholders of record as of the close of business on August 7, 2024. The ex-dividend date for the cash distribution is August 7, 2024.
お知らせ • Jul 11Caspian Capital, LP and Nut Tree Capital Management, LP entered into a letter of intent to acquire Martin Midstream Partners L.P. (NasdaqGS:MMLP) for $160 millionCaspian Capital, LP and Nut Tree Capital Management, LP entered into a letter of intent to acquire Martin Midstream Partners L.P. (NasdaqGS:MMLP) for $160 million on June 21, 2024. The transaction is not subject to any financing condition and would be financed through capital on hand.
お知らせ • Jul 09Martin Midstream Partners L.P. to Report Q2, 2024 Results on Jul 17, 2024Martin Midstream Partners L.P. announced that they will report Q2, 2024 results After-Market on Jul 17, 2024
Seeking Alpha • May 28Martin Midstream Partners Receives A Non-Binding Offer At $3.05 Per UnitSummary Martin Midstream Partners received a non-binding cash offer of $3.05 per unit from Martin Resource Management Corporation. This offer is only a 2% premium to MMLP's closing price before the offer was announced. I have estimated MMLP's value at $4.35 per unit, but that was based on late 2025. A 2024 deal for $3.75 to $4.00 per unit would be reasonable in my opinion. Read the full article on Seeking Alpha
お知らせ • May 26Martin Resource Management Corporation made a non-binding proposal to acquire remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from Martin Product Sales LLC, Martin Resource LLC, Senterfitt Holdings Inc., Cross Oil Refining & Marketing, Inc. and others for approximately $100 million.Martin Resource Management Corporation made a non-binding proposal to acquire remaining 84.3% stake in Martin Midstream Partners L.P. (NasdaqGS:MMLP) from Martin Product Sales LLC, Martin Resource LLC, Senterfitt Holdings Inc., Cross Oil Refining & Marketing, Inc. and others for approximately $100 million on May 24, 2024. Pursuant to the offer, MRMC would acquire all of the outstanding Common Units of MMLP not already owned by MRMC or its subsidiaries for a cash purchase price of $3.05 per Common Unit. The proposed transaction is subject to several contingencies, including the approval of the Conflicts Committee and the GP Board, the approval by MMLP’s unitholders, and the satisfaction of any conditions to the consummation of a transaction set forth in any definitive agreement concerning the transaction.
Declared Dividend • Apr 22First quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 7th May 2024 Payment date: 15th May 2024 Dividend yield will be 0.7%, which is lower than the industry average of 4.5%. Payout Ratios Payout ratio: 21%. Cash payout ratio: 1%.
Reported Earnings • Apr 18First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: US$0.082 (up from US$0.13 loss in 1Q 2023). Revenue: US$180.8m (down 26% from 1Q 2023). Net income: US$3.20m (up US$8.16m from 1Q 2023). Profit margin: 1.8% (up from net loss in 1Q 2023). Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) exceeded analyst estimates by 33%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 3% per year.
お知らせ • Apr 18Martin Midstream Partners L.P. Declares Quarterly Cash Distribution, Payable on May 15, 2024Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended March 31, 2024. The distribution is payable on May 15, 2024 to common unitholders of record as of the close of business on May 8, 2024. The ex-dividend date for the cash distribution is May 7, 2024.
お知らせ • Apr 05Martin Midstream Partners L.P. to Report Q1, 2024 Results on Apr 17, 2024Martin Midstream Partners L.P. announced that they will report Q1, 2024 results After-Market on Apr 17, 2024
Seeking Alpha • Apr 04Martin Midstream Partners: 2024 Is Expected To Be An Investment YearSummary Martin Midstream beat its 2023 adjusted EBITDA expectations by a couple percent. It expects similar 2024 adjusted EBITDA results, but free cash flow may be limited due to growth capex spending and higher than average maintenance capex. Martin's 2025 outlook looks stronger, and it may be able to generate over $1 per unit in distributable cash flow then. I am anticipating a possible 2H 2025 distribution increase. Until Martin increases its quarterly distribution substantially from its current $0.005 per unit, investor interest is likely to remain limited though. Read the full article on Seeking Alpha
Reported Earnings • Feb 15Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: US$0.12 loss per share (improved from US$0.26 loss in FY 2022). Revenue: US$798.0m (down 22% from FY 2022). Net loss: US$4.44m (loss narrowed 56% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 35%. Revenue is expected to decline by 4.1% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.0%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Declared Dividend • Jan 26Third quarter dividend of US$0.005 announcedDividend of US$0.005 is the same as last year. Ex-date: 6th February 2024 Payment date: 14th February 2024 Dividend yield will be 0.9%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (0.7243% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.
お知らせ • Jan 24Martin Midstream Partners L.P. Declares Quarterly Cash Distribution for the Quarter Ended December 31, 2023, Payable on February 14, 2024Martin Midstream Partners L.P. announced it has declared a quarterly cash distribution of $0.005 per unit for the quarter ended December 31, 2023. The distribution is payable on February 14, 2024 to common unitholders of record as of the close of business on February 7, 2024. The ex-dividend date for the cash distribution is February 6, 2024.
お知らせ • Jan 18Martin Midstream Partners L.P. to Report Q4, 2023 Results on Feb 14, 2024Martin Midstream Partners L.P. announced that they will report Q4, 2023 results After-Market on Feb 14, 2024
Recent Insider Transactions • Nov 17Key Executive recently bought US$78k worth of stockOn the 13th of November, Ruben Martin bought around 31k shares on-market at roughly US$2.49 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$211k. Ruben has been a buyer over the last 12 months, purchasing a net total of US$1.6m worth in shares.
Recent Insider Transactions • Oct 25Key Executive recently bought US$60k worth of stockOn the 23rd of October, Randall Tauscher bought around 25k shares on-market at roughly US$2.37 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth US$211k. Randall has been a buyer over the last 12 months, purchasing a net total of US$100k worth in shares.
Reported Earnings • Oct 20Third quarter 2023 earnings released: US$0.027 loss per share (vs US$0.71 loss in 3Q 2022)Third quarter 2023 results: US$0.027 loss per share (improved from US$0.71 loss in 3Q 2022). Revenue: US$176.7m (down 23% from 3Q 2022). Net loss: US$1.04m (loss narrowed 96% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
お知らせ • Oct 19Martin Midstream Partners L.P. Declares Quarterly Cash Distribution for the Third Quarter Ended September 30, 2023, Payable on November 14, 2023Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the third quarter ended September 30, 2023 or $0.020 per common unit annually. The distribution is payable on November 14, 2023, to common unitholders of record as of the close of business on November 7, 2023. The ex-dividend date for the cash distribution is November 6, 2023.
New Risk • Oct 06New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: US$96.5m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Earnings have declined by 2.5% per year over the past 5 years. Minor Risks Negative equity (-US$64m). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$96.5m market cap).
お知らせ • Sep 29Martin Midstream Partners L.P. to Report Q3, 2023 Results on Oct 18, 2023Martin Midstream Partners L.P. announced that they will report Q3, 2023 results After-Market on Oct 18, 2023
Recent Insider Transactions • Sep 15Key Executive recently bought US$109k worth of stockOn the 12th of September, Ruben Martin bought around 36k shares on-market at roughly US$3.00 per share. This transaction amounted to 1.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$731k. Ruben has been a buyer over the last 12 months, purchasing a net total of US$1.5m worth in shares.
Recent Insider Transactions • Sep 06Key Executive recently bought US$211k worth of stockOn the 1st of September, Ruben Martin bought around 71k shares on-market at roughly US$2.97 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$731k. Ruben has been a buyer over the last 12 months, purchasing a net total of US$1.4m worth in shares.
Recent Insider Transactions • Jul 28Key Executive recently bought US$731k worth of stockOn the 25th of July, Ruben Martin bought around 333k shares on-market at roughly US$2.20 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ruben has been a buyer over the last 12 months, purchasing a net total of US$1.2m worth in shares.
お知らせ • Jul 22Martin Midstream Partners L.P. Declares A Quarterly Cash Distribution for the Quarter Ended June 30, 2023, Payable on August 14, 2023Martin Midstream Partners L.P. has declared a quarterly cash distribution of $0.005 per unit for the quarter ended June 30, 2023. The distribution is payable on August 14, 2023 to common unitholders of record as of the close of business on August 7, 2023. The ex-dividend date for the cash distribution is August 4, 2023.
New Risk • Jul 21New major risk - Revenue and earnings growthEarnings have declined by 2.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Earnings have declined by 2.5% per year over the past 5 years. Minor Risks Negative equity (-US$64m). Market cap is less than US$100m (US$84.4m market cap).
Reported Earnings • Jul 20Second quarter 2023 earnings released: EPS: US$0.027 (vs US$0.17 in 2Q 2022)Second quarter 2023 results: EPS: US$0.027 (down from US$0.17 in 2Q 2022). Revenue: US$195.6m (down 27% from 2Q 2022). Net income: US$1.06m (down 84% from 2Q 2022). Profit margin: 0.5% (down from 2.4% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
お知らせ • Jul 07Martin Midstream Partners L.P. to Report Q2, 2023 Results on Jul 19, 2023Martin Midstream Partners L.P. announced that they will report Q2, 2023 results After-Market on Jul 19, 2023
Reported Earnings • Apr 20First quarter 2023 earnings released: US$0.13 loss per share (vs US$0.29 profit in 1Q 2022)First quarter 2023 results: US$0.13 loss per share (down from US$0.29 profit in 1Q 2022). Revenue: US$244.5m (down 12% from 1Q 2022). Net loss: US$4.97m (down 144% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
Reported Earnings • Feb 17Full year 2022 earnings released: US$0.26 loss per share (vs US$0.005 loss in FY 2021)Full year 2022 results: US$0.26 loss per share (further deteriorated from US$0.005 loss in FY 2021). Revenue: US$1.02b (up 16% from FY 2021). Net loss: US$10.2m (loss widened US$9.96m from FY 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
お知らせ • Feb 10Martin Midstream Partners L.P. to Report Q4, 2022 Results on Feb 15, 2023Martin Midstream Partners L.P. announced that they will report Q4, 2022 results After-Market on Feb 15, 2023
お知らせ • Jan 24Martin Midstream Partners L.P. Announces Quarterly Cash Distribution, Payable on February 14, 2023Martin Midstream Partners L.P. announced it has declared a quarterly cash distribution of $0.005 per unit for the quarter ended December 31, 2022. The distribution is payable on February 14, 2023 to common unitholders of record as of the close of business on February 7, 2023. The ex-dividend date for the cash distribution is February 6, 2023.
Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director of Martin Midstream GP LLC Jim Collingsworth was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Recent Insider Transactions • Nov 10Chairman of Martin Midstream GP LLC recently bought US$413k worth of stockOn the 8th of November, Ruben Martin bought around 134k shares on-market at roughly US$3.08 per share. This transaction amounted to 4.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ruben has been a buyer over the last 12 months, purchasing a net total of US$2.0m worth in shares.
Reported Earnings • Nov 04Third quarter 2022 earnings released: US$0.71 loss per share (vs US$0.17 loss in 3Q 2021)Third quarter 2022 results: US$0.71 loss per share (further deteriorated from US$0.17 loss in 3Q 2021). Revenue: US$229.3m (up 8.5% from 3Q 2021). Net loss: US$27.6m (loss widened 308% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
お知らせ • Oct 19Martin Midstream Partners L.P. Announces Quarterly Cash Distribution, Payable on November 14, 2022Martin Midstream Partners L.P. announced it has declared a quarterly cash distribution of $0.005 per unit for the quarter ended September 30, 2022. The distribution is payable on November 14, 2022 to common unitholders of record as of the close of business on November 7, 2022. The ex-dividend date for the cash distribution is November 4, 2022.
Seeking Alpha • Oct 19Martin Midstream Partners declares $0.005 dividendMartin Midstream Partners (NASDAQ:MMLP) declares $0.005/share quarterly dividend, in line with previous. Forward yield 0.64% Payable Nov. 14; for shareholders of record Nov. 7; ex-div Nov. 4. See MMLP Dividend Scorecard, Yield Chart, & Dividend Growth.
お知らせ • Oct 18Martin Midstream Partners L.P. to Report Q3, 2022 Results on Nov 02, 2022Martin Midstream Partners L.P. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 02, 2022
