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Saturday, September 25, 2021

Here is why Martin Midstream Partners L.P. (MMLP) stock flipped in after-hours on Wednesday

Martin Midstream Partners L.P.(MMLP) stock gained 12.11% in the extended trading session on Wednesday, April 21, 2021. The MMLP stock started the day with negativity and lost 0.89% in the morning session. MMLP shares lost 2.19% in the past week and over the past three months, the stock has gained 15.54%. While over the past six months, it has added 20.54%. In the last 12 months, it has surged 34.34%.


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Let’s have a look at its latest news

Financial results announcement

On April 21, 2021, Martin Midstream Partners announced its financial results for the first quarter of 2021.

Q1 2021 financial highlights

  • For the three months ended March 31, 2021, Martin Midstream Partners had a net income of $2.5 million, or $0.06 per limited partner unit compared to net income of $8.8 million, or $0.22 per limited partner unit for the three months ended March 31, 2020.
  • It earned a revenue of $200.9 million for the reported quarter compared to $198.9 million for the three months ended March 31, 2020.
  • Martin Midstream PartnersAdjusted EBITDA was $30.9 million for Q1 2021 compared to$31.0 million in the prior-year quarter.
  • Distributable cash flow was $12.8 million for the three months ended March 31, 2021, compared to $18.3 million for the three months ended March 31, 2020.
  • It also declared a quarterly cash distribution of $0.005 per unit for the quarter ended March 31, 2021, payable on May 14, 2021. 

2020 K-1 Tax Package Availability

On February 27, 2021, Martin Midstream Partners released the K-1 tax package.

Q4 & FY 2020 financial results

On February 22, 2021, MMLP announced its financial results for the three months and the year ended December 31, 2020.

Q4 2020 financial results

  • MMLP had revenue of $180.1 million in Q4 2020 compared to $241.9 million in Q$ 2019.
  • The MMLP suffered a net loss of $2.6 million, a loss of $0.06 per limited partner unit from continuing operations in Q4 2020 compared to net income of $6.6 million, or $0.14 per limited partner unit in Q4 2019.
  • For the Q4 2020, Adjusted EBITDA was $17.4 million compared to $35.5 million for the three months ended December 31, 2019.
  • Distributable cash flow was $0.8 million for the reported quarter compared to $20.7 million for the three months ended December 31, 2019.

FY 2020 financial highlights

  • MMLPsuffered a net loss of $6.8 million, a loss of $0.17 per limited partner unit compared to net income of $4.5 million, or $0.11 per limited partner unit.
  • For FY 2020, Adjusted EBITDA was $94.9 million compared to $108.3 million for the year ended December 31, 2019.
  • Distributable cash flow was $39.7 million for FY 2020 compared to $41.8 million the prior year.
  • The Partnership had no adjusted EBITDA from discontinued operations for the year ended December 31, 2020, compared to $10.7 million for the year ended December 31, 2019. The Partnership had no distributable cash flow from discontinued operations for the year ended December 31, 2020, compared to $9.8 million for the year ended December 31, 2019.
  • MMLP had revenue of $$672.1 million in FY 2020 compared to $$847.1 million in FY 2019.

Conclusion

Yesterday’s financial result announcement was the reason behind its surging in the extended trading session. Its financial results were quite satisfactory during the current pandemic and we can expect it to continue its positive momentum on Thursday as well.

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