Kilgore, Texas-Martin Midstream Partners LP saw a significant boost to earnings in the fourth quarter ending Dec. 31, 2010, to $6.5 million ($.30 per unit) on sales of $262.1 million, up from the year-ago $1.96 million ($.15 per share) on sales of $200.9 million. Revenues from the company’s sulfur segment, which also includes fertilizer, were $51.1 million, up from $18.6 million. MMLP said the sulfur business rebounded from the seasonal weakness typically seen in the third quarter. It said sulfur experienced a solid pricing recovery based on high demand across agricultural markets both foreign and domestic. It expects this demand for sulfur and sulfur-based fertilizers to remain strong in 2011. Overall, MMLP said the fourth quarter was the best quarter during the year in terms of cash flow generation. For the year, it said all four operating segments met or exceeded planned performance. However, full-year net income was $16 million ($.63 per unit) on sales of $912.1 million, down from the prior year’s $22.2 million ($1.17 per unit) on sales of $662.4 million. Annual sulfur segment revenues, however, doubled to $165.1 million from $79.6 million.
Transparency Across the Fertilizer Value-Chain