Kilgore, Texas — Martin Midstream Partners LP reported a 28 percent drop in operating income for its Sulfur segment, which consists of both sulfur and fertilizer, for the second quarter ending June 30, 2013. However, Martin said the results were better than its own forecast. Income was $8.9 million on revenues of $60.9 million, down from the year-ago $12.3 million and $67.1 million, respectively. Sulfur volumes were off 31 percent, to 209,100 lt from 301,400 lt, while fertilizer was off 15 percent, to 71,300 lt from 83,600 lt. Six-month segment income was $18.9 million on revenues of $131.3 million, versus the year-ago $24.8 million and $141.6 million, respectively. Sulfur volumes were 403,100 lt, down from 580,400 lt, while fertilizer was 175,000 lt, down slightly from the year-ago 177,500 lt. Third-quarter Martin-wide net income was $9.1 million ($0.33 per diluted common unit) on revenues of $358.2 million, compared to the year-ago $10 million ($0.25 per unit) and $333.8 million, respectively. Six-month net income was $25.7 million ($0.95 per unit) on revenues of $791.9 million, versus the year-ago $22.5 million ($0.64 per unit) and $682.2 million, respectively.
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