Martin Midstream Partners
Connects Gulf Coast refineries through terminals, transport, sulfur, and specialty products.
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Profile
Operates four Gulf Coast businesses in terminalling and storage, transportation, sulfur services, and specialty products. Its refinery-linked model pairs logistics and product marketing with a sponsor-provided workforce.
Runs four linked Gulf Coast businesses: Terminalling and Storage, Transportation, Sulfur Services, and Specialty Products. The portfolio brings together terminal services, land and marine transportation, sulfur activity, and specialty-product operations.
Martin Resource Management Corporation remains the sponsor, and the public MLP structure separates limited partners from the general partner. A refocus from upstream-exposed assets toward services for refineries shaped the modern business, including logistics and marketing of refinery by-products such as sulfur and NGLs. The sponsor provides staff and support through the general-partner structure, so operations depend on it rather than a direct workforce.
Company facts
Categories
Key statistics
Year to date −16.7% · Average volume (30d) 11.7K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | — | $0.07 | — | — | $213.6M | — | −1.21% |
| Apr 22, 2026Q1 FY26 | — | −$0.17 | — | — | $187.7M | — | −8.57% |
| Feb 18, 2026Q4 FY25 | $0.06 | −$0.07 | −216.7% | $194.5M | $174.2M | −10.4% | −0.34% |
| Oct 15, 2025Q3 FY25 | −$0.02 | −$0.21 | −950.0% | $192.6M | $168.7M | −12.4% | −16.50% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $192.5M | $180.7M | $168.7M | $174.2M | $187.7M | $213.6M | |
| Gross profit | $90.2M | $102.2M | $15.8M | $22.3M | $18.5M | $128.8M | |
| Operating income | $14.4M | $14.9M | $6.5M | $12.2M | $7.7M | $3.8M | |
| Net income | −$1.0M | −$2.4M | −$8.2M | −$2.8M | −$6.8M | $6.8M | |
| Diluted EPS | −$0.03 | −$0.06 | −$0.21 | −$0.07 | −$0.17 | $0.17 | |
| Gross margin | 46.8% | 56.5% | 9.3% | 12.8% | 9.9% | 60.3% | |
| Operating margin | 7.5% | 8.2% | 3.9% | 7.0% | 4.1% | 1.8% |
Fiscal years (4-quarter sums)FY21 $882.4M · FY22 $1.02B · FY23 $798.0M · FY24 $707.6M · FY25 $716.1M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $50.0K · Total debt $494.4M · Total assets $547.4M · Shareholders' equity −$90.2M
Dividends
Raised for 4 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 7, 2026 | Aug 7 | Aug 14 | $0.005 | |
| May 8, 2026 | May 8 | May 15 | $0.005 | |
| Feb 6, 2026 | Feb 6 | Feb 13 | $0.005 | |
| Nov 7, 2025 | Nov 7 | Nov 14 | $0.005 | |
| Aug 7, 2025 | Aug 7 | Aug 14 | $0.005 | |
| May 8, 2025 | May 8 | May 15 | $0.005 | |
| Feb 7, 2025 | Feb 7 | Feb 14 | $0.005 | |
| Nov 7, 2024 | Nov 7 | Nov 14 | $0.005 |
Ownership
Shares outstanding 39.12M · Float 25.77M · 65.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Ruben S. Martin III | 11.48M | 29.40% | 13D | Jun 11, 2025 |
| Martin Resource Management Corp | 7.59M | 19.40% | 13D | Jun 11, 2025 |
| Invesco Ltd. | 7.21M | 18.44% | 13F | May 12, 2026 |
| Nomura Holdings Inc | 3.56M | 9.11% | 13F | May 15, 2026 |
| Barclays PLC | 1.50M | 3.83% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 11, 2025 | Martin Product Sales LLC | 10 percent owner | +5,573 | $2.55 |
| Dec 12, 2025 | Martin Product Sales LLC | 10 percent owner | +7,012 | $2.59 |
| Dec 4, 2025 | Martin Product Sales LLC | 10 percent owner | +2,190 | $2.60 |
| Dec 8, 2025 | Martin Product Sales LLC | 10 percent owner | +12,228 | $2.59 |
| Dec 1, 2025 | Martin Product Sales LLC | 10 percent owner | +2,239 | $2.59 |
Peers
- Enterprise Products Partners
Gulf Coast NGL, refined-product, and marine-logistics infrastructure
- ONEOK
Integrated NGL and refined-products infrastructure across U.S. systems
- Kinder Morgan
Liquids terminals and product pipelines serving refined-product markets
- Kirby
Tank-barge transport for petroleum, chemical, and agricultural liquids
- Calumet
Specialty-products blending, distribution, and terminal storage
- Mosaic
Crop nutrients incorporating sulfur-bearing formulations
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Martin Midstream Partners | $2.27 | +0.89% | $88.0M | — | — | 0.1 | +18.2% |
| Enterprise Products Partners | $39.00 | −0.04% | $84.42B | 13.5 | 12.8 | 1.4 | +60.8% |
| ONEOK | $94.50 | −0.26% | $59.71B | 16.3 | 15.6 | 1.5 | +52.8% |
| Kinder Morgan | $31.50 | −0.16% | $70.28B | 20.2 | 21.2 | 3.9 | +10.8% |
| Kirby | $139.06 | +0.01% | $7.44B | 21.4 | 18.0 | 2.1 | +7.8% |
| Calumet | $47.75 | −0.02% | $4.16B | — | 14.9 | 0.9 | +40.8% |
| Mosaic | $23.71 | +0.38% | $7.50B | 124.2 | 25.5 | 0.6 | −6.0% |
| Median | 20.2 | 16.8 | 1.5 | +25.8% |