MARTIN MIDSTREAM PARTNERS L.P. SEC 10-Q Report

Martin Midstream Partners L.P., a key player in the terminalling, storage, and transportation of petroleum products and by-products, has released its Form 10-Q report for the third quarter. The report provides a comprehensive overview of the company's financial performance and operational highlights, reflecting the challenges and strategic initiatives undertaken during the period.

Financial Highlights

Total Revenues: $168.7 million, reflecting a slight decrease from the previous year's $170.9 million, primarily due to lower transportation segment revenues.

Operating Income: $6.9 million, a decrease from $12.7 million in the prior year, impacted by increased operating expenses and lower revenues.

Net Income (Loss): $(8.4) million, compared to a loss of $(3.3) million in the previous year, driven by higher interest expenses and lower operating income.

Net Income (Loss) Per Unit Attributable to Limited Partners - Basic and Diluted: $(0.21), down from $(0.08) in the prior year, reflecting the increased net loss.

Business Highlights

Revenue Segments

• Terminalling and Storage: Generated revenue through contracted monthly tank fixed fees and throughput contracts, focusing on petroleum products and by-products.
• Transportation: Provided land and marine transportation services, with revenue based on mileage rates and time charters.
• Sulfur Services: Focused on processing, manufacturing, marketing, and distribution of sulfur and sulfur-based products, with revenue recognized upon customer title transfer.
• Specialty Products: Offered marketing, distribution, and transportation services for NGLs and specialty lubricants, with revenue recognized upon product delivery.

Geographical Performance

The Partnership's operations are primarily focused in the Gulf Coast region of the United States, leveraging its strategic location for terminalling, storage, and transportation services.

Sales Units

The Transportation segment reported significant activity in land and marine transportation services, with land transportation revenue based on mileage rates and marine transportation revenue from time charters and contracted trips.

New Production Launches

The Partnership is involved in the production of electronic level sulfuric acid (ELSA) through DSM Semichem LLC, leveraging existing assets in Plainview, Texas, and installing additional facilities to meet semiconductor manufacturing standards.

Future Outlook

The Partnership anticipates continued compliance with debt covenants and expects to maintain operational performance across its segments. The adoption of new accounting standards is expected to enhance segment disclosures, and the Partnership plans to leverage its strategic assets for future growth.

SEC Filing: MARTIN MIDSTREAM PARTNERS L.P. [ MMLP ] - 10-Q - Oct. 20, 2025