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Martin Midstream Partners (MMLP) investor relations material
Martin Midstream Partners Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Adjusted EBITDA for 2Q 2026 was $27.9 million, up from $27.1 million in 2Q 2025, reflecting stable operational performance across segments.
Year-to-date (YTD) 2Q 2026 Adjusted EBITDA was $48.7 million, down from $55.0 million YTD 2Q 2025, primarily due to lower Sulfur Services and Transportation segment results.
Net income for 2Q 2026 was $2.6 million, compared to a net loss of $2.4 million in 2Q 2025; net loss for the first half of 2026 was $4.1 million versus $3.4 million loss in the prior year period.
Outperformance in three of four operating segments offset continued weakness in the fertilizer division.
Quarterly cash distribution declared at $0.005 per common unit, payable August 14, 2026.
Financial highlights
Q2 2026 revenues rose to $213.6 million, up from $180.7 million in Q2 2025.
Operating income for Q2 2026 was $19.3 million, up from $14.9 million in Q2 2025.
Transportation segment Adjusted EBITDA for 2Q 2026 was $8.0 million, down from $8.5 million in 2Q 2025; YTD 2Q 2026 was $14.0 million, down from $16.5 million YTD 2Q 2025.
Terminalling & Storage Adjusted EBITDA for 2Q 2026 was $9.5 million, up from $8.4 million in 2Q 2025; YTD 2Q 2026 was $16.6 million, up from $16.1 million YTD 2Q 2025.
Sulfur Services Adjusted EBITDA for 2Q 2026 was $8.7 million, down from $9.7 million in 2Q 2025; YTD 2Q 2026 was $15.5 million, down from $21.2 million YTD 2Q 2025.
Outlook and guidance
Full-year 2026 Adjusted EBITDA guidance is $90.0 million, revised down from a prior estimate of $104.4 million.
Maintenance capital expenditures and plant turnaround costs for 2026 are projected at $27.7 million.
Fertilizer division weakness expected to persist through year-end, but pure sulfur business anticipated to offset some pressure.
DSM Semichem joint venture generated first sales; stronger sales activity expected in 2027.
Total distributable cash flow for 2026 is forecast at $8.3 million.
- Fee-based, diversified midstream operator with stable EBITDA and improving leverage metrics.MMLP
Investor presentation7 May 2026 - Adjusted EBITDA fell to $20.8M and guidance was cut amid margin and operational pressures.MMLP
Q1 202627 Apr 2026 - 2025 adjusted EBITDA fell to $99M, with 2026 guidance at $96.5M and higher capex expected.MMLP
Q4 202518 Feb 2026 - Q2 net income $3.8M, adjusted EBITDA $31.7M, buyout offer, and higher leverage ratio.MMLP
Q2 20243 Feb 2026 - Q3 2024 saw a net loss, $25.1M EBITDA, and a pending $4.02/unit merger with MRMC.MMLP
Q3 202419 Jan 2026 - Flexible $250M shelf registration supports growth, debt management, and ongoing Gulf Coast operations.MMLP
Registration Filing16 Dec 2025 - Unitholders will vote on a cash merger at $4.02 per unit, with board and committee unanimous support.MMLP
Proxy Filing1 Dec 2025 - Unitholders to vote on a $4.02 per unit cash merger; board and committee recommend approval.MMLP
Proxy Filing1 Dec 2025 - Unitholders are urged to approve a cash merger with MRMC at a 34% premium to market.MMLP
Proxy Filing1 Dec 2025
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