The earnings call highlighted MPLX's strategic acquisitions and strong financial performance, particularly in the Permian Basin. However, there were challenges in the natural gas and NGL services segment with a decrease in EBITDA and volume declines. Despite these challenges, the company's strong distribution growth and financial flexibility contribute to a positive outlook.

Company Guidance

During the MPLX Second Quarter 2025 Earnings Call, the company provided guidance on its strategic growth initiatives and financial outlook. MPLX announced the acquisition of Northwind Midstream for just under $2.4 billion, adding over 200,000 dedicated acres in the Delaware Basin with plans to expand sour gas treating capacity from 150 million to 440 million cubic feet per day. The acquisition is expected to be accretive to distributable cash flow, representing a 7x multiple on forecasted 2027 EBITDA. The company also completed acquisitions of a 5% stake in the Matterhorn Express pipeline and the remaining 55% interest in the BANGL NGL pipeline system. MPLX reported adjusted EBITDA of $1.7 billion for the second quarter, a 2% increase year-over-year, and maintained a mid-single-digit adjusted EBITDA growth outlook for 2025. The company plans to invest $1.7 billion in organic growth in 2025, with over 90% allocated to natural gas and NGL services. MPLX remains committed to supporting annual distribution increases, with a recent 12.5% increase in the quarterly distribution. The company emphasized its financial flexibility, aiming to maintain leverage below 4x while pursuing strategic acquisitions.

Strategic Acquisition of Northwind Midstream

MPLX announced the acquisition of Northwind Midstream for just under $2.4 billion, adding 200,000 dedicated acres in the Delaware Basin. The acquisition is expected to be immediately accretive to MPLX's distributable cash flow and represents a 7x multiple on forecasted 2027 EBITDA.

Permian Basin Expansions

MPLX completed the acquisition of a 5% stake in the Matterhorn Express pipeline and the remaining 55% interest in the BANGL NGL pipeline system, enhancing their integrated natural gas value chain in the Permian Basin.

Adjusted EBITDA Growth

Second quarter adjusted EBITDA was $1.7 billion, representing a 2% increase year-over-year. First half of the year achieved 5% adjusted EBITDA growth versus the first half of 2024.

Commitment to Distribution Growth

MPLX increased its distribution by 12.5% in the third quarter of last year, supported by a robust 1.5x distribution coverage and low leverage.

Strong Financial Flexibility

MPLX maintains a strong balance sheet with leverage below 4x and returned nearly $1 billion to unitholders in distributions and $100 million in unit repurchases.

MPLX (MPLX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

MPLX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	1.09 / -	1.01	―	―	―
Aug 05, 2025	2025 (Q2)	1.06 / 1.03	1.15	-10.43% (-0.12)
May 06, 2025	2025 (Q1)	1.10 / 1.10	0.98	12.24% (+0.12)
Feb 04, 2025	2024 (Q4)	1.04 / 1.07	1.1	-2.73% (-0.03)
Nov 05, 2024	2024 (Q3)	1.04 / 1.01	0.89	13.48% (+0.12)
Aug 06, 2024	2024 (Q2)	0.98 / 1.15	0.91	26.37% (+0.24)
Apr 30, 2024	2024 (Q1)	0.98 / 0.98	0.91	7.69% (+0.07)
Jan 30, 2024	2023 (Q4)	0.95 / 1.10	0.78	41.03% (+0.32)
Oct 31, 2023	2023 (Q3)	0.97 / 0.89	1.36	-34.56% (-0.47)
Aug 01, 2023	2023 (Q2)	0.89 / 0.91	0.83	9.64% (+0.08)

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
Aug 05, 2025	$51.73	$49.92	-3.50%
May 06, 2025	$48.73	$47.93	-1.64%
Feb 04, 2025	$49.48	$50.66	+2.38%
Nov 05, 2024	$41.02	$42.01	+2.41%

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 Nov 04, 2025, Before Open (Confirmed).

What is MPLX LP (MPLX) earnings time?

MPLX LP (MPLX) earnings time is at Nov 04, 2025, 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 2025 (Q3) is 1.09.

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