v3.26.3
Business Segments
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Business Segments BUSINESS SEGMENTS
    The Chief Operating Decision Maker ("CODM") is a group of executives, comprised of the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer of the Partnership's general partner. The CODM may use different operating measures to assess operating results and allocate resources among the Partnership's four segments (outlined below), however the measure that is most consistent with the amounts included in the consolidated and condensed financial statements is operating income. The CODM utilizes this measure to evaluate the current financial performance and project the future financial performance of each segment to determine the allocation of capital resources.

The Partnership's four reportable segments are comprised of (1) Terminalling and Storage, (2) Transportation, (3) Sulfur Services and (4) Specialty Products. The operating segments within each of our reportable segments have been aggregated based on the similarity of their economic and other characteristics, including different product type and services.

The Terminalling and Storage segment generates revenue by providing terminalling, processing, and storage services for petroleum products and by-products. Storage revenue is earned through contracted monthly fixed fees, while throughput revenue is based on the volume moved through the Partnership’s terminals at contracted rates. Tolling revenue is derived from contracted monthly reservation fees and throughput volumes processed at the facility.

The Transportation segment earns revenue by offering land and marine transportation services for petroleum products, by-products, chemicals, and specialty products. Land transportation revenue is based on mileage rates for line hauls or completion of contracted trips. Marine transportation revenue comes from time charters, calculated on a per-day basis, or from the completion of contracted trips.

The Sulfur Services segment generates revenue by providing processing, manufacturing, marketing, and distribution services for sulfur and sulfur-based products. Revenue from sulfur and fertilizer product sales is recognized when the customer takes title to the product. Revenue from sulfur services is earned as services are performed during each monthly period.

The Specialty Products segment earns revenue by providing marketing, distribution, and transportation services for NGLs as well as blending and packaging services for specialty lubricants and greases. NGL revenue is recognized upon the sale of products via truck, rail, or pipeline. For lubricants and greases, revenue is recognized upon their sale by truck or rail.

The following tables present selected financial information with respect to the Partnership's operating segments for the three and nine months ended September 30, 2026 and 2025.
Terminalling and StorageTransportationSulfur ServicesSpecialty ProductsIndirect selling, general and administrativeTotal
Three Months Ended September 30, 2026
Operating revenues from external customers24,008 56,629 61,588 89,502 — $231,727 
Intersegment operating revenues 1,903 4,444 — 49 — 6,396 
Total segment revenues25,911 61,073 61,588 89,551 — 238,123 
Reconciliation of revenues:
Elimination of intersegment revenues(1,903)(4,444)— (49)— (6,396)
Total consolidated revenues24,008 56,629 61,588 89,502 — 231,727 
Less: cost of products sold:
Direct product costs— — 42,112 76,733 — 118,845 
Manufacturing costs (plant, labor, transportation, and other)— — 8,358 5,323 — 13,681 
Segment gross margin25,911 61,073 11,118 7,495 — 105,597 
Less:
Employment related expenses2
7,213 14,908 1,990 1,415 2,908 28,434 
Driver pay — 12,305 — — — 12,305 
Pass-through expenses— 8,606 1,254 — — 9,860 
Utilities, materials, and supplies3,865 572 259 41 — 4,737 
Repairs and maintenance1,410 4,854 95 5 — 6,364 
Insurance related expenses1,675 4,112 155 40 29 6,011 
Lease expenses1,279 5,879 110 12 — 7,280 
Other segment expenses1
2,202 2,639 1,629 73 703 7,246 
Depreciation and amortization5,079 3,203 4,190 661 — 13,133 
(Gain) loss on sale or disposition of property, plant and equipment45 (6)— — — 39 
22,768 57,072 9,682 2,247 3,640 95,409 
Operating income (loss)$3,143 $4,001 $1,436 $5,248 $(3,640)$10,188 
Segment assets - as of September 30, 2026$156,328 $156,831 $146,416 $104,722 $— $564,297 
Segment assets - as of December 31, 2025$156,111 $165,129 $132,397 $68,781 $— $522,418 
Capital expenditures and plant turnaround costs$3,503 $1,134 $7,367 $307 $— $12,311 
1 Other segment expenses include outside services, property taxes, terminalling fees, regulatory expenses, professional fees, communications expenses, and many other less significant expense categories used in operations.
2 These employment expenses include allocated overhead from Martin Resource Management Corporation and exclude those that are part of our manufacturing operations. Payroll expenses in our manufacturing operations are included in cost of products sold.
Terminalling and StorageTransportationSulfur ServicesSpecialty ProductsIndirect selling, general and administrativeTotal
Nine Months Ended September 30, 2026
Operating revenues from external customers$70,188 $166,075 $162,482 $234,256 $— $633,001 
Intersegment operating revenues 5,830 13,058 — 114 — 19,002 
Total segment revenues76,018 179,133 162,482 234,370 — 652,003 
Reconciliation of revenues:
Elimination of intersegment revenues(5,830)(13,058)— (114)— (19,002)
Total consolidated revenues70,188 166,075 162,482 234,256 — 633,001 
Less: cost of products sold:
Direct product costs— — 101,176 195,071 — 296,247 
Manufacturing costs (plant, labor, transportation, and other)— — 26,004 18,306 — 44,310 
Segment gross margin76,018 179,133 35,302 20,993 — 311,446 
Less:
Employment related expenses2
20,854 44,922 6,290 4,621 8,666 85,353 
Driver pay — 36,995 — — — 36,995 
Pass-through expenses— 22,746 2,369 — — 25,115 
Utilities, materials, and supplies11,761 1,711 816 116 — 14,404 
Repairs and maintenance3,610 14,045 235 14 — 17,904 
Insurance related expenses4,976 13,048 650 129 61 18,864 
Lease expenses3,616 17,509 307 48 — 21,480 
Other segment expenses1
6,305 6,986 3,892 519 2,055 19,757 
Depreciation and amortization15,158 9,303 12,437 2,158 — 39,056 
(Gain) loss on sale or disposition of property, plant and equipment(4,414)(507)(25)(1)— (4,947)
61,866 166,758 26,971 7,604 10,782 273,981 
Operating income (loss)$14,152 $12,375 $8,331 $13,389 $(10,782)$37,465 
Segment assets - as of September 30, 2026$156,328 $156,831 $146,416 $104,722 $— $564,297 
Segment assets - as of December 31, 2025$156,111 $165,129 $132,397 $68,781 $— $522,418 
Capital expenditures and plant turnaround costs$18,032 $6,728 $15,030 $676 $— $40,466 
1 Other segment expenses include outside services, property taxes, terminalling fees, regulatory expenses, professional fees, communications expenses, and many other less significant expense categories used in operations.
2 These employment expenses include allocated overhead from Martin Resource Management Corporation and exclude those that are part of our manufacturing operations. Payroll expenses in our manufacturing operations are included in cost of products sold.
Terminalling and StorageTransportationSulfur ServicesSpecialty ProductsIndirect selling, general and administrativeTotal
Three Months Ended September 30, 2025
Operating revenues from external customers$23,930 $49,709 $32,635 $62,443 $— $168,717 
Intersegment operating revenues 1,869 4,081 — 39 — 5,989 
Total segment revenues25,799 53,790 32,635 62,482 — 174,706 
Reconciliation of revenues:
Elimination of intersegment revenues(1,869)(4,081)— (39)— (5,989)
Total consolidated revenues23,930 49,709 32,635 62,443 — 168,717 
Less: cost of products sold:
Direct product costs— — 16,878 52,534 — 69,412 
Manufacturing costs (plant, labor, transportation, and other)— — 7,237 4,318 — 11,555 
Segment gross margin25,799 53,790 8,520 5,630 — 93,739 
Less:
Employment related expenses2
6,727 15,012 2,105 1,344 3,036 28,224 
Driver pay — 11,305 — — — 11,305 
Pass-through expenses— 5,650 815 — — 6,465 
Utilities, materials, and supplies3,563 656 235 29 — 4,483 
Repairs and maintenance883 4,618 118 1 — 5,620 
Insurance related expenses1,558 4,489 195 45 13 6,300 
Lease expenses1,111 5,424 117 20 — 6,672 
Other segment expenses1
2,235 1,324 1,211 248 818 5,836 
Depreciation and amortization5,143 2,907 3,531 755 — 12,336 
(Gain) loss on sale or disposition of property, plant and equipment2 (383)(2)(13)— (396)
21,222 51,002 8,325 2,429 3,867 86,845 
Operating income (loss)$4,577 $2,788 $195 $3,201 $(3,867)$6,894 
Segment assets - as of September 30, 2025$155,876 $159,937 $127,554 $66,755 $— $510,122 
Capital expenditures and plant turnaround costs$2,808 $2,217 $5,496 $523 $— $11,044 
1 Other segment expenses include outside services, property taxes, terminalling fees, regulatory expenses, professional fees, communications expenses, and many other less significant expense categories used in operations.
2 These employment expenses include allocated overhead from Martin Resource Management Corporation and exclude those that are part of our manufacturing operations. Payroll expenses in our manufacturing operations are included in cost of products sold.
Terminalling and StorageTransportationSulfur ServicesSpecialty ProductsIndirect selling, general and administrativeTotal
Nine Months Ended September 30, 2025
Operating revenues from external customers$67,883 $156,520 $125,467 $192,066 $— $541,936 
Intersegment operating revenues 5,558 12,446 — 85 — 18,089 
Total segment revenues73,441 168,966 125,467 192,151 — 560,025 
Reconciliation of revenues:
Elimination of intersegment revenues(5,558)(12,446)— (85)— (18,089)
Total consolidated revenues67,883 156,520 125,467 192,066 — 541,936 
— 
Less: cost of products sold:
Direct product costs— — 66,302 160,379 — 226,681 
Manufacturing costs (plant, labor, transportation, and other)— — 19,126 13,684 — 32,810 
Segment gross margin73,441 168,966 40,039 18,088 — 300,534 
Less:
Employment related expenses2
19,863 45,448 6,489 4,228 9,295 85,323 
Driver pay — 34,891 — — — 34,891 
Pass-through expenses— 17,632 2,456 — — 20,088 
Utilities, materials, and supplies10,783 1,851 726 88 — 13,448 
Repairs and maintenance3,188 13,594 541 10 — 17,333 
Insurance related expenses4,589 12,734 535 122 105 18,085 
Lease expenses3,343 14,979 351 73 — 18,746 
Other segment expenses1
5,872 6,031 4,420 736 3,079 20,138 
Depreciation and amortization16,123 8,755 10,644 2,268 — 37,790 
(Gain) loss on sale or disposition of property, plant and equipment(7)(1,460)(3)(17)— (1,487)
63,754 154,455 26,159 7,508 12,479 264,355 
Operating income (loss)$9,687 $14,511 $13,880 $10,580 $(12,479)$36,179 
Segment assets - as of September 30, 2025$155,876 $159,937 $127,554 $66,755 $— $510,122 
Capital expenditures and plant turnaround costs$5,655 $7,116 $8,824 $1,072 $— $22,667 
1 Other segment expenses include outside services, property taxes, terminalling fees, regulatory expenses, professional fees, communications expenses, and many other less significant expense categories used in operations.
2 These employment expenses include allocated overhead from Martin Resource Management Corporation and exclude those that are part of our manufacturing operations. Payroll expenses in our manufacturing operations are included in cost of products sold.