Martin Midstream Partners L.P. (Nasdaq:MMLP) is engaged in the storage, transportation, and distribution of petroleum products, lubricants, chemicals, and other specialty products. It provides these services primarily in the United States Gulf Coast region through its terminal, transportation, and storage assets. The company’s customers are primarily independent producers, refiners, and petrochemical companies. Its revenue is derived from fees charged for providing value-added services to its customers in the energy industry through the storage and transportation of various products, as well as from the sale of products in its distribution segment.
Comps: USD Partners LP (NYSE:USDP), StealthGas Inc. (Nasdaq:GASS)
Although all three midstream businesses experienced negative earnings, Martin Midstream Partners exhibited better earnings per share compared to its peers. Additionally, the company’s revenue of over USD 1 billion is significantly higher than that of its competitors. Furthermore, Martin Midstream Partners’ profit margin and net income surpass that of USD Partners. Despite having a low yield, Martin Midstream Partners returned more than StealthGas.