MPLX Q2 Earnings Miss Estimates Due to Higher Operating Expenses

MPLX LP reported Q2 2025 earnings of $1.03 per unit, missing the Zacks Consensus Estimate of $1.07. Total revenues of $3 billion also missed estimates and decreased from the prior-year level. The weak results were attributed to a decrease in gathering throughput volumes and higher operating expenses. MPLX's adjusted EBITDA from the Crude Oil and Products Logistics segment increased to $1.14 billion, while the Natural Gas and NGL Services segment's EBITDA slightly decreased to $552 million.

Title: MPLX LP Reports Mixed Q2 2025 Earnings

MPLX LP (NYSE: MPLX) reported its second-quarter 2025 earnings on July 2, 2025, with the company's earnings per unit (EPS) coming in at $1.03, which fell short of the Zacks Consensus Estimate of $1.07. Total quarterly revenues of $3 billion also missed the Zacks Consensus Estimate of $3.2 billion, decreasing from the prior-year level of $3.1 billion. The weak results can be primarily attributed to a decrease in gathering throughput volumes and higher operating expenses [1].

The company's adjusted EBITDA from the Crude Oil and Products Logistics segment increased to $1.14 billion from $1.1 billion a year ago, driven primarily by higher rates and increased throughputs. Total pipeline throughputs in the quarter were 6.1 million barrels per day (mbpd), up 1% from the prior-year quarter’s level of 6.02 mbpd. In contrast, the Natural Gas and NGL Services segment's adjusted EBITDA amounted to $552 million, slightly below $554 million in the year-ago quarter, affected by higher operating expenses and project spending [1].

Total costs and expenses were $1.71 billion, up from the year-ago reported figure of $1.63 billion. The increase was driven primarily by higher operating expenses, including purchased product costs. Distributable cash flow in the quarter totaled $1.42 billion, providing 1.5x distribution coverage, and adjusted free cash flow declined to $1.13 billion from $1.45 billion in the corresponding period of 2024 [1].

As of June 30, 2025, the partnership’s cash and cash equivalents were $1.4 billion, and its total debt amounted to $21.2 billion. MPLX’s Zacks Rank & Key Picks currently carry a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy sector include Antero Midstream Corporation (AM), Galp Energia SGPS SA (GLPEY), and Enbridge Inc. (ENB), each carrying a Zacks Rank #2 (Buy) [1].

MPLX LP is set to release its Q2 2025 earnings on August 5, 2025. The consensus estimate for Q2 2025 revenue is $3.16 billion, and the earnings are expected to come in at $1.08 per share. The full year 2025's revenue is expected to be $12.78 billion and the earnings are expected to be $4.51 per share [2].

MPLX LP reported strong Q2 2025 financial results, highlighted by a $2.375 billion acquisition of Northwind Midstream to enhance its Permian natural gas operations. The company achieved net income of $1.048 billion and adjusted EBITDA of $1.69 billion, with net cash from operations of $1.736 billion. Key financial metrics include distributable cash flow of $1.42 billion and a quarterly distribution of $0.9565 per unit with 1.5x coverage. The company maintains a solid leverage ratio of 3.1x and announced a new $1.0 billion unit repurchase authorization [3].

References:
[1] https://finance.yahoo.com/news/mplx-q2-earnings-miss-estimates-131700182.html
[2] https://finance.yahoo.com/news/mplx-lp-mplx-q2-2025-131901287.html
[3] https://www.stocktitan.net/news/MPLX/mplx-lp-reports-second-quarter-2025-financial-2tnxqfmdxmzv.html