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Martin Midstream Partners L.P. (MMLP) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 26, 2026 · Martin Midstream Partners L.P. (MMLP) Q3 2026 earnings results →
Q3 2026 Revenue up 37% year over year to $232M · 2¢ of every $1 of revenue lost · operating margin 4.4%
Martin Midstream Partners L.P. made $232M in Q3 2026 (+37% Y/Y): Product Sales $147M, Transportation $56.6M, Terminalling and storage $24.0M. Operating margin 4.4%, net loss $4.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 26, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $231.7M in Q3 2026, up 37% year over year and up 8% from the previous quarter. Specialty products was the largest line at 39% of revenue. Sulfur services added $28.8M year over year (up 101%), 46% of the total change.
Operating profit was $10.2M, a 4.4% margin (up 0.3 points year over year). Of the extra revenue versus Q3 2025, 5% reached operating profit, above the 4% margin then. Total costs grew 37% against revenue growth of 37%. The fastest-growing cost line was Cost of revenue (+68%). The quarter ended with a net loss of $4.1M, after a profit of $2.6M the previous quarter. Net interest and other expense of $14.9M was the main reason.
Operating cash flow was −$4.9M. Non-cash charges added back $13.1M of depreciation and amortization and $49K of share-based compensation. Working capital and other items used $13.9M. Capital expenditures of $10.8M exceeded it, leaving free cash flow of −$15.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 26, 2026 | $232M | +37% | 4.4% | −$4.1M | −$4.9M |
| Q2 2026 | 10-Q | Jul 27, 2026 | $214M | +18% | 9.0% | $2.6M | $12.2M |
| Q1 2026 | 10-Q | Apr 27, 2026 | $188M | -2% | 4.3% | −$6.8M | −$13.8M |
| Q4 2025 | 10-K | Feb 23, 2026 | $174M | +2% | 7.3% | −$2.9M | $22.4M |
| Q3 2025 | 10-Q | Oct 20, 2025 | $169M | -1% | 4.1% | −$8.4M | −$1.2M |
| Q2 2025 | 10-Q | Jul 21, 2025 | $181M | -2% | 8.2% | −$2.4M | $30.9M |
| Q1 2025 | 10-Q | Apr 21, 2025 | $193M | +6% | 7.5% | −$1.0M | −$6.0M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Martin Midstream Partners L.P.
Martin Midstream Partners L.P., headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the Gulf Coast region of the United States. MMLP’s primary business lines include: (1) terminalling, processing, and storage services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) marketing, distribution, and transportation services for natural gas liquids and blending and packaging services for specialty lubricants and grease. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.
In its own words, from its 8-K, filed Oct 21, 2026.
Martin Midstream Partners L.P. against its Wholesale-Petroleum Bulk Stations & Terminals peers
The largest companies of the same SEC industry, each at its latest quarter.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MMLP Martin Midstream Partners L.P. | Q3 2026 | $232M | +37% | 4.4% |
| GLP Global Partners LP | Q3 2026 | $6.7B | +42% | 1.3% |
Source: Martin Midstream Partners L.P. 10-Q on SEC EDGAR · CIK 1176334 · Wholesale-Petroleum Bulk Stations & Terminals
13F: who owns MMLP and who is buying
More on MMLP
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Martin Midstream Partners L.P. guidance history: guided vs reported
- Martin Midstream Partners L.P. free cash flow by quarter
- Martin Midstream Partners L.P. capital expenditures by quarter
- Martin Midstream Partners L.P. Product Sales revenue by quarter
- Martin Midstream Partners L.P. Transportation revenue by quarter
- Martin Midstream Partners L.P. Terminalling and storage revenue by quarter