new accountant
Will Harris joined the Henry & Peters Longview office on July 11 as a Tax and Audit Staff Associate. Originally from his Longview, Harris graduated from Texas Tech University in June 2022 with a Master of Science degree in Accounting.
eastman dividend
The Board of Directors of Eastman Chemical Co. has declared a quarterly cash dividend of 76 cents per share on the company’s common stock.
Dividends will be paid on October 7 to shareholders of record of September 15.
Based in Kingsport, Tennessee, the company employs approximately 1,500 people at its Longview plant.
Change of Aion
Longview’s former head of Aaon, Gene Stewart, resigned from the company effective August 16th.
Stewart previously worked for Aaon and returned in April 2020 as President of Longview Operations. The company said he successfully transformed operations at his Aaon facility in Tulsa, Oklahoma, and was promoted to executive vice his president at a larger company. The Longview factory employs over 500 of his people.
The company also promoted Rob Tace to Vice President of Sales and Marketing.
Teis, 53, most recently served as Director of Sales for Aaon since February 2017, responsible for the company’s sales organization including aftermarket sales, customer support, applications and technical support. Prior to that, he worked as an engineer in the company’s Applied Equipment Sales for 15 years. Teis is a registered professional engineer in Oklahoma and prior to joining Aaon he worked as an engineer in consulting. She holds a BS in Mechanical Engineering and Business Administration from the University of Tulsa.
Martin Midstream Results
Kilgore-based Martin Midstream Partners reported quarterly net income of $6.6 million, or 17 cents per limited partner unit, at the end of June. This is in stark contrast to his results a year ago, when the company reported a loss of $6.6 million for him and a loss of $17. cents per limited share.
Revenue for the three months ended June 30, 2021 was $184.3 million compared to $267 million for the three months ended June 30, 2021.
The company also declared a quarterly distribution of 0.5 cents per unit.
Bob Bondurant, president and chief executive officer of Martin Midstream GP LLC, general partner of the partnership, said: Overall, each of the four business segments beat expectations, beating his high-range guidance for the quarter by $13 million. Currently, we expect current refinery utilization to remain strong through the end of the year, with continued solid demand for our diversified products and services. Based on this forecast, the range of his adjusted EBITDA guidance for 2022 is increased from $126 million to $135 million.
“The current operating environment in our business segments has consistently provided opportunities to reduce leverage as we have reduced our debt balances and improved our performance year on year. times, the adjusted leverage ratio for the partnership was 3.46x as of June 30, 2022. Higher commodity prices continue to drive working capital needs, especially within the natural gas liquids segment. We will continue to focus on conservative capital management to achieve our goal of maintaining a leverage ratio below 3.75x.”
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