Martin Midstream Posts $4.15M Third-Quarter Loss
MMLP sits 20% above its 52-week low of $1.76.
Summary
Martin Midstream reported a $4.15 million third-quarter loss on revenue of $231.7 million, a negative result for a micro-cap MLP whose entire market value is under $100 million. The loss is large relative to the partnership's size, so it matters more than the dollar figure suggests. This is the first hard look at Q3 profitability since the Q2 10-Q filed July 27, which carried no new information beyond the July 22 release. Watch for the full 10-Q and any distribution commentary, since a loss of this size raises questions about cash coverage.
At the time of this announcement, MMLP was trading at $2.12 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $82.9M. The 52-week trading range was $1.76 to $3.24. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.