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KILGORE, Texas - Martin Midstream Partners L.P. (NASDAQ:MMLP) announced Wednesday it has successfully amended and extended its revolving credit facility, pushing the maturity date to November 2026. According to InvestingPro data, the company maintains a current ratio of 1.13 and has generated $98.15 million in EBITDA over the last twelve months.
The amended facility reduces the borrowing capacity from $150 million to $130 million while adding an accordion feature that allows for up to an additional $50 million. The company also disclosed that it had $41 million outstanding under the credit facility as of June 30, 2025.
The revised agreement includes modifications to certain financial covenants, according to the company's statement. Wells Fargo Bank, N.A. served as the lead arranger for the transaction, while Royal Bank of Canada acts as the administrative agent for the facility.
Martin Midstream Partners, headquartered in Kilgore, Texas, operates primarily in the Gulf Coast region of the United States. The company's business activities include terminalling and storage services for petroleum products, land and marine transportation services, sulfur processing and manufacturing, and marketing services for natural gas liquids.
Baker Botts L.L.P. provided legal counsel to the partnership for the transaction, according to the press release statement.
In other recent news, Martin Midstream Partners reported financial results for the second quarter of 2025, which did not meet analyst expectations. The company posted a net loss of $2.4 million, or -$0.06 per unit, which was below the anticipated $0.08 per unit. Revenue for the quarter was $180.7 million, falling short of the consensus estimate of $199.4 million. Despite these misses, Martin Midstream Partners has maintained its full-year adjusted EBITDA guidance of $109.1 million. The partnership reported an adjusted EBITDA of $27.1 million for the quarter, which was lower than the $31.7 million reported in the same period last year.
Stifel has reiterated its Hold rating and a $4.00 price target for Martin Midstream Partners, even though the quarterly results were below their estimates. The firm highlighted ongoing challenges, such as tariffs, which could affect the company's operations and costs. Despite the earnings miss, Stifel's stance suggests a steady outlook for the company. These developments provide investors with critical insights into the company's current financial health and future expectations.
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