What is the market's earnings forecast for Mplx next quarter?

What is Mplx's gross profit margin?

What guidance did Mplx's management provide for the next earnings period?

What does Mplx do and what are its main business segments?

What is the revenue and EPS growth rate for Mplx year over year?

What were the key takeaways from Mplx’s earnings call?

What is Mplx's latest dividend and current dividend yield?

Did Mplx beat or miss consensus estimates last quarter?

- **Record Distribution Growth**: 12.5% quarterly increase, marking four straight years of double-digit growth.
- **Strong EBITDA Performance**: $5.2 billion year-to-date, up 4% YoY, driven by natural gas and NGL services.
- **Strategic Acquisitions**: $4.5 billion in senior notes funded BANGL and sour gas treating acquisitions, enhancing Permian integration.
- **2026 Growth Outlook**: EBITDA growth to exceed 2025, supported by BANGL expansion, sour gas capacity, and Gulf Coast terminal.
- **Power Play**: Early-stage LOI with MARA to supply gas for in-basin power, potentially lowering costs for producers.
- **Resilient Logistics**: Crude segment protected by Marathon's minimum volume commitments, despite oil price volatility.

**【CEO Opening Remarks】**
- Announced a 12.5% quarterly distribution increase, marking the fourth consecutive year of double-digit growth.
- Year-to-date adjusted EBITDA reached $5.2 billion, up 4% YoY, supported by strong performance in natural gas and NGL services.
- Highlighted strategic acquisitions: 55% stake in BANGL NGL pipeline and Delaware Basin sour gas treating assets, enhancing Permian basin integration.
- Projected 2026 EBITDA growth to exceed 2025, driven by new assets like Secretariat (Permian processing plant) and BANGL expansion to 300,000 bpd.
- Emphasized mid-single-digit EBITDA growth target, with coverage ratio maintained above 1.3x.

**【CFO Financial Commentary】**
- Q3 2025 adjusted EBITDA: $1.8 billion (+3% YoY), distributable cash flow: $1.5 billion (+2% YoY).
- Returned $1.1 billion to unitholders via distributions and $100 million in unit buybacks.
- Issued $4.5 billion in senior notes to fund acquisitions, maintaining leverage below 4x threshold.
- Year-to-date capital returns: $3.2 billion, reflecting disciplined capital allocation.

**【Q&A Highlights】**
- **Growth Outlook**: 2026 EBITDA growth expected to outpace 2025, driven by BANGL expansion, sour gas treating capacity (400 MMcf/d by end-2026), and Gulf Coast fractionation/export terminal (2028-2029).
- **Sour Gas Strategy**: $0.5 billion capital investment to expand treating capacity, with no additional AGI wells needed to meet project economics.
- **Power LOI with MARA**: Early-stage LOI to supply natural gas for in-basin power generation, potentially lowering costs for producer customers.
- **Crude Logistics Resilience**: Segment EBITDA protected by Marathon Petroleum's minimum volume commitments, despite crude price volatility.
- **Distribution Policy**: 12.5% annual growth expected for next 2-3 years, supported by organic and inorganic growth pipeline.


MPLX LP Common Units (MPLX) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

MPLX

MPLX fundamentals

You can ask Aime