Martin Midstream Partners L.p. · NASDAQ:MMLP
Martin Midstream Partners L.p — Corporate Update (January 2020)
6 slides from Martin Midstream Partners L.p's corporate update, Jan 28, 2020
Slide 1: Martin Midstream Partners L.P. 2020E Financial Guidance
Exhibit 99.3 Martin Midstream Partners L.P. 2020E Financial Guidance January 28, 2020 1
Slide 2: Disclaimers
Disclaimers Use of Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures such as EBITDA and Adjusted EBITDA. These non-GAAP financial measures are not meant to be considered in isolation or as a substitute for results prepared in accordance with accounting princi
Slide 3: 2020E Guidance Reconciliation
2020E Guidance Reconciliation $ millions Terminalling Sulfur Transportation Natural Gas Interest SG&A 2020E & Storage Services Services Liquids Expense Net Income (loss) $9.6 $22.8 $18.7 $18.5 $(16.6) $(52.8) $0.2 Interest expense add back -- -- -- -- -- $52.8 $52.8 Depreciation and amortization $35
Slide 4: Strong Fee-Based Contracts with Limited Commodity Exposure
Strong Fee-Based Contracts with Limited Commodity Exposure Segment Breakdown 2020E Contract Mix Margin Based EBITDA Protection from Fixed Fee EBITDA Commodity Volume-Risk Price-Risk Price Volatility Smackover Refinery Martin Lubricants Terminalling & Specialty Terminals Storage Shore-Based Shore-Bas
Slide 5: Fee Based Cash Flow Reconciliation
Fee Based Cash Flow Reconciliation 1Q20E 2Q20E 3Q20E 4Q20E 2020E Terminalling & Storage Smackover Refinery $ 4.2 $ 4.2 $ 4.1 $ 4.1 $ 16.6 Fixed Fee Martin Lubricants $ 3.3 $ 4.3 $ 4.3 $ 2.8 $ 14.7 Margin Specialty Terminals $ 2.7 $ 2.7 $ 2.7 $ 2.8 $ 10.9 Fixed Fee Shore Based Terminals (1) $ 0.4 $ 0
Slide 6: 2020E Capital Expenditures
2020E Capital Expenditures (1) (1) For 2019 and 2020, the majority of the Neches Ship-loader capital expenditures will be offset by insurance recovery proceeds 6
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