Martin Midstream Partners’ terminalling and storage segment has ‘gained momentum’ during the first quarter and could exceed forecasts, the company says in its first quarter 2015 report.
Ruben Martin, president and CEO says: ‘Looking at our operating segments, terminalling and storage outperformed internal expectations during the quarter. This performance was driven by higher than projected throughput at our Corpus Christi crude terminal and lower than forecasted expenses at the shore based terminals and the Smackover refinery.
The Partnership’s adjusted EBITDA from continuing operations for the first quarter of 2015 was $50.4 million compared to $39.0 million from the same quarter the previous year – an increase of 29%.
Smith adds: ‘Pertaining to growth projects, discussion with our customers in both terminalling and storage and natural gas services segments have gained momentum during the first quarter; and it appears possible that we will exceed our originally forecasted growth capital expenditure budget for 2015.’