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MPLX LP (MPLX)
NYSE:MPLX
Earnings Data
Report Date
May 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.08Last Year’s EPS
1.1Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a predominantly positive outlook driven by multi-year EBITDA growth (6.7% three‑year CAGR), aggressive capital deployment ($5.5B in 2025), a concrete $2.4B 2026 plan, sustained shareholder returns (12.5% distribution increase and $4.4B returned in 2025), and a robust project backlog targeting mid‑teens returns. Near-term headwinds include a 4% decline in distributable cash flow due to higher interest expense, modest YoY declines in processing and fractionation volumes (partly from asset sales), and weather-related temporary volume impacts. Management emphasizes disciplined capital allocation, liquidity ($2.1B cash), leverage and coverage targets, and confidence that 2026 growth will outpace 2025 with further ramp contributions into 2027–2028.Company Guidance
Strong multi-year EBITDA growth
Three-year adjusted EBITDA CAGR of 6.7%, with adjusted EBITDA for 2025 reaching just over $7.0 billion and fourth-quarter adjusted EBITDA of $1.8 billion, up 2% year-over-year.
Material shareholder returns and distribution increase
Increased the distribution by 12.5% in 2025, returned $4.4 billion total in 2025, and returned $1.2 billion to unitholders in the quarter through distributions and unit repurchases; management plans 12.5% distribution growth for two more years.
Significant capital deployed and clear 2026 plan
Deployed $5.5 billion in 2025 to natural gas and NGL value chains; announced a $2.4 billion 2026 capital plan with ~90% directed to natural gas and NGL services.
High-return growth pipeline (mid‑teens target)
Multiple projects (Permian, Marcellus) expected to deliver mid‑teens returns when in service (primarily 2028+), including Secretariat II (300 MMcf/d, $320M) and downstream fractionation/LPG export capacity.
Permian execution and capacity expansion
Titan complex on time and budget; expecting >400 MMcf/d sour gas treating by 2026; Secretariat II to bring Delaware Basin processing capacity to ~1.7 Bcf/d; Eiger Express expansion to 3.7 Bcf/d announced.
Marcellus strengthening and near‑capacity utilization
Marcellus processing utilization at 97% for the quarter; Harmon Creek III (300 MMcf/d plus deethanizer) expected online in 2026, bringing Northeast processing to ~8.1 Bcf/d and fractionation to 800,000 barrels/day.
Crude & Logistics segment improvement
Crude Oil & Products and Logistics segment adjusted EBITDA increased $52 million year-over-year, driven largely by a $37 million benefit from a revised FERC tariff and higher rates; pipeline volumes +1%.
Healthy liquidity and disciplined balance‑sheet targets
Ended the quarter with $2.1 billion cash; $1.5 billion of 1.75% notes maturing in March to be refinanced; management expects leverage to trend down and targets not to exceed ~4.0x leverage and ~1.3x DCF coverage floor.
MPLX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MPLX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 03, 2026 | $55.32 | $55.27 | -0.09% |
Nov 04, 2025 | $49.79 | $50.13 | +0.68% |
Aug 05, 2025 | $50.65 | $48.87 | -3.51% |
May 06, 2025 | $47.72 | $46.92 | -1.68% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does MPLX LP (MPLX) report earnings?
MPLX LP (MPLX) is schdueled to report earning on May 05, 2026, Before Open (Confirmed).
What is MPLX LP (MPLX) earnings time?
MPLX LP (MPLX) earnings time is at May 05, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MPLX EPS forecast?
MPLX EPS forecast for the fiscal quarter 2026 (Q1) is 1.08.