MMLP

MKT CAP:$101M

Martin Midstream Partners L.P.

Market Cap

$101M

Energy·Oil & Gas Midstream·🇺🇸 United States·NASDAQ

Energy·Oil & Gas Midstream·🇺🇸·NASDAQ

Stock Price

$2.61-$0.09 (-3.43%)

Apr 24, 2026

Company Details

Martin Midstream Partners L.P., together with its subsidiaries, engages in terminalling, processing, storage, and packaging of petroleum products and by-products primarily in the United States Gulf Coast region. The company's Terminalling a...

CEO

Robert D. Bondurant

IPO Date

Nov 1, 2002

Website

mmlp.com

Key Metrics TTM

Revenue

$722M

-9.5% YoY

Net Income

-$20M

EPS (Diluted)

-$0.33

Free Cash Flow

-$8M

Revenue / Share

—

Gross Margin

36.6%

Operating Margin

5.8%

Net Margin

-2.8%

FCF Margin

-1.1%

P/S

0.1x

P/E

—

Earnings Reports

Q1 2026

Apr 22, 2026

NEW

$188M-2.5%EPS $0.00

Q1 2025

Apr 21, 2025

$193MEPS -$0.03

FY 2024

Feb 24, 2025

$708M-11.3%EPS -$0.13

Q4 2024

Feb 24, 2025

$171M-5.4%EPS -$0.22

Q3 2024

Oct 21, 2024

$171M-3.3%EPS -$0.08

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$201M	$72M	$16M
Q2 21	$184M	$64M	$8M
Q3 21	$211M	$68M	$8M
Q4 21	$286M	$89M	$26M
Q1 22	$279M	$93M	$25M
Q2 22	$267M	$95M	$21M
Q3 22	$229M	$63M	-$12M
Q4 22	$243M	$87M	$17M
Q1 23	$245M	$92M	$18M
Q2 23	$196M	$86M	$17M
Q3 23	$177M	$89M	$15M
Q4 23	$181M	$28M	$17M
Q3 24	$171M	$87M	$13M
Q4 24	$171M	$87M	$7M
Q1 25	$193M	$90M	$14M
Q1 26	$188M	$0	$8M

Valuation

Quarter	P/S	P/E
Q1 21	0.1x	—
Q2 21	0.1x	—
Q3 21	0.2x	—
Q4 21	0.1x	—
Q1 22	0.2x	19.1x
Q2 22	0.1x	7.0x
Q3 22	0.1x	158.7x
Q4 22	0.1x	—
Q1 23	0.1x	—
Q2 23	0.1x	—
Q3 23	0.1x	—
Q4 23	0.1x	—
Q3 24	0.2x	—
Q4 24	0.2x	—
Q1 25	0.2x	—
Q1 26	0.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	$4M	$1M
Q2 21	$2M	-$3M
Q3 21	-$18M	-$22M
Q4 21	$48M	$44M
Q1 22	$28M	$18M
Q2 22	$76.0K	-$4M
Q3 22	-$45M	-$52M
Q4 22	$33M	$27M
Q1 23	$49M	$42M
Q2 23	$50M	$40M
Q3 23	$7M	-$979.0K
Q4 23	$31M	$20M
Q3 24	-$16M	-$26M
Q4 24	$42M	$34M
Q1 25	-$6M	-$4M
Q1 26	-$14M	-$12M

Capital Expenditures

Quarter	CapEx
Q1 21	$3M
Q2 21	$6M
Q3 21	$3M
Q4 21	$5M
Q1 22	$10M
Q2 22	$4M
Q3 22	$6M
Q4 22	$6M
Q1 23	$8M
Q2 23	$9M
Q3 23	$8M
Q4 23	$11M
Q3 24	$10M
Q4 24	$8M
Q1 25	$2M
Q1 26	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+1.1%	+1.1%
Q2 21	+31.0%	+33.3%
Q3 21	+38.5%	+43.5%
Q4 21	+58.8%	+54.7%
Q1 22	+38.9%	+37.0%
Q2 22	+44.9%	+39.0%
Q3 22	+8.5%	+18.9%
Q4 22	-14.9%	-12.8%
Q1 23	-12.4%	-10.5%
Q2 23	-26.7%	-27.4%
Q3 23	-22.9%	-32.9%
Q4 23	-25.6%	-27.6%
Q3 24	-30.1%	-30.3%
Q4 24	-12.4%	-7.7%
Q1 25	+9.0%	+10.0%
Q1 26	+3.6%	+9.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$240.0K	0.1%
Q2 21	$48.0K	0.0%
Q3 21	$48.0K	0.0%
Q4 21	$48.0K	0.0%
Q1 22	$34.0K	0.0%
Q2 22	$45.0K	0.0%
Q3 22	$46.0K	0.0%
Q4 22	$36.0K	0.0%
Q1 23	$52.0K	0.0%
Q2 23	$38.0K	0.0%
Q3 23	$37.0K	0.0%
Q4 23	$36.0K	0.0%
Q3 24	$0	0.0%
Q4 24	-$1M	-0.8%
Q1 25	$43.0K	0.0%
Q1 26	$45.0K	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 21	$11M
Q2 21	$9M
Q3 21	$10M
Q4 21	$12M
Q1 22	$11M
Q2 22	$10M
Q3 22	$10M
Q4 22	$10M
Q1 23	$11M
Q2 23	$8M
Q3 23	$10M
Q4 23	$11M
Q3 24	$12M
Q4 24	$16M
Q1 25	$12M
Q1 26	$11M

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$43.0K	$0	$43.0K
Q3 22	$45.0K	$0	$45.0K
Q4 22	$45.0K	$0	$45.0K
Q1 23	$57.0K	$0	$57.0K
Q2 23	$57.0K	$0	$57.0K
Q3 23	$54.0K	$0	$54.0K
Q4 23	$54.0K	$0	$54.0K
Q1 24	$54.0K	$0	$54.0K
Q2 24	$55.0K	$0	$55.0K
Q3 24	$56.0K	$0	$56.0K
Q4 24	$55.0K	$0	$55.0K
Q1 25	$52.0K	$0	$52.0K
Q2 25	$47.0K	$0	$47.0K
Q3 25	$49.0K	$0	$49.0K
Q4 25	$49.0K	$0	$49.0K
Q1 26	$49.0K	$0	$49.0K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	39M	+0.1%	+0.2%
Q2 21	39M	-0.0%	+0.1%
Q3 21	39M	0.0%	+0.1%
Q4 21	39M	-0.0%	+0.1%
Q1 22	39M	+0.1%	+0.1%
Q2 22	39M	+0.0%	+0.2%
Q3 22	39M	-0.1%	+0.1%
Q4 22	39M	+0.3%	+0.4%
Q1 23	39M	-0.2%	+0.1%
Q2 23	39M	+0.0%	+0.1%
Q3 23	39M	-0.0%	+0.1%
Q4 23	39M	+0.4%	+0.2%
Q3 24	39M	-0.2%	+0.2%
Q4 24	39M	0.0%	+0.1%
Q1 25	39M	+0.1%	+0.3%
Q1 26	0	-100.0%	-100.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$134.0K	2K
Q2 21	$122.9K	2K
Q3 21	$140.8K	2K
Q4 21	$197.2K	1K
Q1 22	$192.6K	1K
Q2 22	$184.1K	1K
Q3 22	$158.1K	1K
Q4 22	$155.0K	2K
Q1 23	$155.8K	2K
Q2 23	$124.6K	2K
Q3 23	$112.5K	2K
Q4 23	$111.9K	2K
Q3 24	$105.6K	2K
Q4 24	$102.0K	2K
Q1 25	$114.7K	2K
Q1 26	$108.9K	2K

Revenue / Employee