Filing Flows › Martin Midstream Partners L.P. (MMLP) › Q2 2026 › vs Q2 2025
Martin Midstream Partners L.P. (MMLP) Q2 2026 vs Q2 2025 (year over year)
Martin Midstream Partners L.P.'s revenue rose $32.9M (+18%) from $181M in Q2 2025 to $214M in Q2 2026. The biggest changes: Product Sales +$28.6M (+28%); Transportation +$2.8M (+5%); Terminalling and storage +$1.3M (+6%). Operating margin 9.0% against 8.2% (+0.8 pts).
Martin Midstream Partners L.P., Q2 2026: revenue $214M (+18% year over year), operating margin 9.0%, net earnings $2.6M, operating cash flow $12.2M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 9.0% | 8.2% | +0.8 pts |
| Net margin | 1.2% | -1.3% | +2.6 pts |
| Free cash flow margin | 1.3% | 13.8% | -12.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Specialty products | $83.1M | $60.3M | $22.8M | +38% |
| Sulfur services | $45.8M | $40.1M | $5.8M | +14% |
| Product Sales | $129M | $100M | $28.6M | +28% |
| Transportation | $56.6M | $53.8M | $2.8M | +5% |
| Terminalling and storage | $23.7M | $22.4M | $1.3M | +6% |
| Sulfur services | $4.3M | $4.1M | $180K | +4% |
| Revenue | $214M | $181M | $32.9M | +18% |
| Operating profit | $19.3M | $14.9M | $4.4M | +29% |
| Costs & expenses | $194M | $166M | $28.5M | +17% |
| Pre-tax earnings | $4.5M | −$323K | $4.8M | — |
| Other expense, net | $14.7M | $15.2M | −$470K | -3% |
| Cost of revenue | $108M | $78.5M | $29.1M | +37% |
| SG&A | $9.4M | $10.9M | −$1.5M | -14% |
| Other operating costs | $77.3M | $76.4M | $939K | +1% |
| Net earnings | $2.6M | −$2.4M | $5.1M | — |
| Income tax | $1.9M | $2.1M | −$209K | -10% |
| Operating cash sources | $15.7M | $10.3M | $5.5M | +53% |
| Depreciation & amortization | $13.1M | $12.6M | $414K | +3% |
| Share-based compensation | $49K | $47K | $2K | +4% |
| Working capital & other | $3.5M | −$20.6M | $24.2M | — |
| Operating cash flow | $12.2M | $30.9M | −$18.7M | -61% |
| Free cash flow (OCF − capex) | $2.7M | $24.9M | −$22.2M | -89% |
| Capital expenditures | $9.5M | $6.0M | $3.5M | +58% |
Questions
How much did Martin Midstream Partners L.P.'s revenue grow year over year in Q2 2026?
Martin Midstream Partners L.P.'s revenue rose $32.9M (+18%) from $181M in Q2 2025 to $214M in Q2 2026.
What drove Martin Midstream Partners L.P.'s revenue change in Q2 2026?
Product Sales +$28.6M (+28%); Transportation +$2.8M (+5%); Terminalling and storage +$1.3M (+6%).