According to reports, Martin Midstream Partners (MMLP.US) has expanded its losses in the third quarter and withdrawn its performance guidance due to disappointing lubricant performance and a sharp decline in barge utilization. The financial report indicated that Martin's revenue was $168.72 million, a year-on-year decrease of 1.3%. The net loss per share for the quarter widened from $0.08 in the same period last year to $0.21. Meanwhile, adjusted core profits fell by 23% to $19.3 million. The company stated, "In the specialty products division, sales volumes for the grease business have consistently fallen short of expectations. Despite recent activities showing initial signs of improvement, weak sales have rendered our previous guidance for this business unlikely to be achieved." The lubricant business also slightly underperformed; however, Martin Midstream anticipates improved performance next quarter, as the lubricant market is adjusting to the exit of a major competitor in South Louisiana. On the other hand, the sulfur services business is facing mild sales resistance after the fertilizer plant completed its scheduled annual maintenance and has resumed operations. "We expect to restore full operations next quarter and improve performance." Conversely, there has been a significant decline in inland barge fuel transportation demand in the marine transportation sector, which was unforeseen at the start of this quarter. Bob Bondurant, President and CEO of Martin Midstream, commented, "Due to refineries' preference for lighter crude varieties, barge utilization has also significantly declined, with transportation demand shifting from barges to pipelines." In light of this challenging operational environment, the company has withdrawn its 2025 performance guidance due to the current weak demand affecting inland barge utilization.