Filing Flows › Martin Midstream Partners L.P. (MMLP) › Q1 2025
Martin Midstream Partners L.P. (MMLP) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 21, 2025
Martin Midstream Partners L.P. (MMLP) reported revenue of $193M for the first quarter 2025 (Q1 2025), +6% from a year earlier and +12% from the quarter before. Operating margin was 7.5%, net loss $1.0M (0.5% of revenue).
Martin Midstream Partners L.P., Q1 2025: revenue $193M (+6% year over year), operating margin 7.5%, net loss $1.0M, operating cash flow −$6.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $193M | +12% | +6% |
| Operating profit | $14.4M | — | — |
| Net earnings | −$1.0M | — | — |
| Operating cash flow | −$6.0M | — | — |
What changed
Revenue was $192.5M in Q1 2025, up 6% year over year and up 12% from the previous quarter. Specialty products was the largest line at 36% of revenue. Sulfur services added $14.3M year over year (up 47%), 122% of the total change. Transportation declined 9%.
Operating profit was $14.4M, a 7.5% margin (down 2.4 points year over year). Operating profit fell $3.5M even though revenue rose $11.7M versus a year earlier, so costs grew faster than sales. Total costs grew 9% against revenue growth of 6%. The fastest-growing cost line was SG&A (+32%). The quarter ended with a net loss of $1.0M, narrower than the previous quarter's $8.9M loss. Net interest and other expense of $14.3M was the main reason.
Operating cash flow was −$6.0M. Non-cash charges added back $12.8M of depreciation and amortization and $43K of share-based compensation. Working capital and other items used $17.8M. Capital expenditures of $5.9M exceeded it, leaving free cash flow of −$11.9M.
Questions
What was Martin Midstream Partners L.P.'s revenue in the first quarter 2025?
Martin Midstream Partners L.P.
Was Martin Midstream Partners L.P. profitable in the first quarter 2025?
Operating profit was $14.4M (7.5% of revenue) and net loss $1.0M.