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How Martin Midstream Partners L.P. (MMLP) makes money

Martin Midstream Partners L.P. (MMLP) made $232M of revenue in the third quarter 2026 (Q3 2026), +37% from a year earlier. Product Sales brought in $147M (63%); Transportation brought in $56.6M (24%); Terminalling and storage brought in $24.0M (10%).

Drawing the Sankey…

Martin Midstream Partners L.P. revenue by segment, Q3 2026Martin Midstream Partners L.P. revenue by segment, Q3 2026Product Sales$147MTransportation$56.6MTerminalling and storage$24.0MSulfur services$4.2M
Martin Midstream Partners L.P.: revenue by line, Q1 2025 to Q3 2026Martin Midstream Partners L.P.: revenue by line, Q1 2025 to Q3 2026Product SalesTransportationTerminalling and stor…Sulfur servicesThroughput and storageProduct Sales: $147M latest$147MTransportation: $56.6M latest$56.6MTerminalling and storage: $24.0M latest$24.0MSulfur services: $4.2M latestThroughput and storage: $0 latestQ1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Product Sales went from 59% of revenue in Q1 2025 to 63% in Q3 2026, the largest shift in the mix.
Martin Midstream Partners L.P. revenue by quarterMartin Midstream Partners L.P. revenue by quarter$193MQ1 2025$181MQ2 2025$169MQ3 2025$174MQ4 2025$188MQ1 2026$214MQ2 2026$232MQ3 2026

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Product Sales$147M63.4%+14%+61%
  ↳ Specialty products$89.5M38.6%+8%+43%
  ↳ Sulfur services$57.4M24.8%+25%+101%
Transportation$56.6M24.4%0%+14%
Terminalling and storage$24.0M10.4%+1%+0.3%
Sulfur services$4.2M1.8%-0.6%+4%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$232M100.0%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$232M+37%
Q2 2026$214M+18%
Q1 2026$188M-2%
Q4 2025$174M+2%
Q3 2025$169M-1%
Q2 2025$181M-2%
Q1 2025$193M+6%

From Martin Midstream Partners L.P.'s 10-Q filed Oct 26, 2026 (on EDGAR).

Questions

How does Martin Midstream Partners L.P. make money?

Martin Midstream Partners L.P. (MMLP) made $232M of revenue in the third quarter 2026 (Q3 2026), +37% from a year earlier. Product Sales brought in $147M (63%); Transportation brought in $56.6M (24%); Terminalling and storage brought in $24.0M (10%).

What is Martin Midstream Partners L.P.'s biggest business?

Product Sales: $147M in the third quarter 2026, 63% of revenue, +61% from a year earlier.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.