Martin Midstream Partners L.P. (‘MMLP’ or the ‘Partnership’) yesterday announced its financial results for the three months and year ended 31 December 2021.
“The Partnership finished the year with another strong quarter leading to adjusted EBITDA of US$114.5 million for 2021, exceeding the high end of our guidance by approximately US$12.5 million. These results allowed us to make significant progress towards our leverage goals as adjusted and total leverage were reduced over a full turn from both 31 December 2020 and 31 September 2021,” stated Bob Bondurant, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of the Partnership. “The rebound in the global economy and strengthening commodity prices resulted in solid annual results across all segments, and particularly in our fertiliser, land transportation and butane optimisation businesses.
“As we focus on 2022, I remain confident in our diversified refinery services asset base which has performed well through the last two years of economic instability. Our priority remains on maximising investor value through our continued emphasis on capital discipline and niche organic growth projects with our long-term business partners.”
Read the article online at: https://www.worldpipelines.com/business-news/17022022/martin-midstream-partners-reports-fourth-quarter-and-full-year-2021-financial-results/