Filing Flows › Martin Midstream Partners L.P. (MMLP) › Q3 2025
Martin Midstream Partners L.P. (MMLP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 20, 2025
Martin Midstream Partners L.P. (MMLP) reported revenue of $169M for the third quarter 2025 (Q3 2025), -1% from a year earlier and -7% from the quarter before. Operating margin was 4.1%, net loss $8.4M (5.0% of revenue).
Martin Midstream Partners L.P., Q3 2025: revenue $169M (-1% year over year), operating margin 4.1%, net loss $8.4M, operating cash flow −$1.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $169M | -7% | -1% |
| Operating profit | $6.9M | -54% | — |
| Net earnings | −$8.4M | — | — |
| Operating cash flow | −$1.2M | -104% | — |
What changed
Revenue was $168.7M in Q3 2025, down 1% year over year and down 7% from the previous quarter. Specialty products was the largest line at 37% of revenue. Transportation lost $6.8M year over year (down 12%), 307% of the total change.
Operating profit was $6.9M, a 4.1% margin (down 3.3 points year over year). Total costs grew 2% against a revenue fall of 1%. The quarter ended with a net loss of $8.4M, wider than the previous quarter's $2.4M loss. Net interest and other expense of $14.6M was the main reason.
Operating cash flow was −$1.2M. Non-cash charges added back $12.3M of depreciation and amortization and $66K of share-based compensation. Working capital and other items used $5.2M. Capital expenditures of $6.7M exceeded it, leaving free cash flow of −$7.9M.
Questions
What was Martin Midstream Partners L.P.'s revenue in the third quarter 2025?
Martin Midstream Partners L.P.
Was Martin Midstream Partners L.P. profitable in the third quarter 2025?
Operating profit was $6.9M (4.1% of revenue) and net loss $8.4M.