Martin Midstream Partners LP Earnings: Here’s Why the Stock is Up Now
Martin Midstream Partners LP (NASDAQ:MMLP) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.39%.
Martin Midstream Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 52.5% to $0.61 in the quarter versus EPS of $0.40 in the year-earlier quarter.
Revenue: Rose 28.2% to $433.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Martin Midstream Partners LP reported adjusted EPS income of $0.61 per share. By that measure, the company beat the mean analyst estimate of $0.50. It beat the average revenue estimate of $423.28 million.
Quoting Management: Ruben Martin, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of Martin Midstream Partners, said, “During the first quarter 2013, the Partnership generated record cash flow. We finished the quarter with a strong 1.38 times distribution coverage ratio. On a fully diluted basis, our distribution coverage ratio would have been 1.27 times assuming the incentive distribution rights were in effect for the quarter. The general partner has agreed to forego its right to receive $18.0 million in incentive distributions in support of our natural gas storage investment.”
Key Stats (on next page)…