Martin Midstream Slips To Loss

(RTTNews) - Martin Midstream Partners LP (MMLP) Wednesday reported third-quarter net loss of $26.3 million or $0.82 per unit compared with a profit of $187 thousand or $0.01 per unit last year.

Martin attributed the loss mainly to a $30 million non-cash reduction in the carrying value of the Partnership's 42.2% unconsolidated investment in Cardinal Gas Storage Partners LLC.

Revenues for the quarter were $390 million compared with $359.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.16 per unit on revenues of $465.4 million for the quarter. Analysts' estimates typically exclude special items.