MPLX LP ( (MPLX) ) has released its Q4 earnings. Here is a breakdown of the information MPLX LP presented to its investors.
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MPLX LP is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets, primarily in the energy sector, providing fuels distribution services with a focus on crude oil, natural gas, and NGL processing and transportation across key U.S. supply basins.
In its latest earnings report for 2024, MPLX LP announced a net income attributable to the partnership of $4.3 billion and an adjusted EBITDA of $6.8 billion, marking a year-over-year increase of 10% and 8%, respectively. The company highlighted the progression of its Gulf Coast NGL strategy with the announcement of a new fractionation complex and export terminal.
Key financial metrics from the report include $3.9 billion in capital returned to unitholders and a 12.5% increase in quarterly distributions, along with $326 million in unit repurchases. MPLX generated $5.9 billion in net cash from operating activities and $3.9 billion in adjusted free cash flow for the year. The company’s leverage ratio stood at 3.1x at the end of 2024. Additionally, MPLX announced a capital spending outlook of $2.0 billion for 2025, focusing on mid-teen returns.
Strategically, MPLX is expanding its operations with investments in the Permian and Marcellus basins and new projects, such as a strategic partnership with ONEOK, Inc. to develop a 400,000 bpd LPG export terminal anticipated to be operational by 2028. The company also announced several ongoing projects to enhance its pipeline and processing capacities.
Looking forward, MPLX LP aims to continue executing its growth strategies and anticipates mid-single digit adjusted EBITDA growth, enabling further reinvestment into the business and supporting annual distribution increases in the future.
