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MPLX LP (MPLX)
NYSE:MPLX
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Earnings Data
Report Date
Feb 04, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.03Last Year’s EPS
$1.1Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: 6.27%
|Next Earnings Date:Feb 04, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant growth in EBITDA, distribution increases, and strategic expansion projects. Despite some regulatory challenges and higher operating expenses, the company's strong financial position and operational achievements contribute to an overall positive outlook.Company Guidance
During the MPLX Q3 2024 earnings call, the company provided guidance highlighting several key metrics and strategic initiatives. MPLX's adjusted EBITDA grew by over 7% for the first nine months of 2024 compared to the previous year, reaching a record $1.7 billion in the third quarter alone. Distributable cash flow was reported at $1.4 billion, enabling MPLX to return nearly $950 million to unitholders and increase its distribution by 12.5%. The company is committed to returning capital through growing distributions and unit buybacks, supported by its robust portfolio and strategic growth objectives. MPLX plans to invest over $1 billion in capital spending for the year, focusing on expanding its natural gas and NGL assets, particularly in the Permian and Marcellus basins. Additionally, MPLX highlighted its operational excellence, citing its Bluestone plant's achievement of the U.S. EPA's ENERGY STAR certification. The call also emphasized the company's strategic investments in pipeline expansions, such as increasing its ownership in the BANGL pipeline and progressing on the Blackcomb and Rio Bravo pipelines, which are anticipated to enhance its wellhead-to-water strategy. The guidance reflects MPLX's confidence in sustaining annual distribution increases and leveraging its financial flexibility to support future growth.Record Adjusted EBITDA Growth
MPLX achieved record adjusted EBITDA of $1.7 billion in Q3 2024, marking a 7% increase compared to the same quarter last year.
Increased Distribution to Unitholders
MPLX increased the distribution by 12.5% this quarter, returning nearly $950 million to unitholders.
Significant Growth in Processing Volumes
Year-to-date processing volumes increased by 50% compared to the previous year, with notable growth in the Utica, Marcellus, and Permian Basins.
Expansion Projects in Progress
MPLX is advancing projects like the Harmon Creek III processing plant, expected to increase processing capacity by 2026, and the Secretariat processing plant in the Permian.
Strong Financial Position
MPLX ended the quarter with a cash balance of $2.4 billion and maintained a leverage ratio of 3.4x.
Operational Excellence at Bluestone Plant
The Bluestone plant achieved a 12% reduction in energy intensity, earning the U.S. EPA's ENERGY STAR.
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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
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MPLX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $43.42 | $44.46 | +2.40% |
| Aug 06, 2024 | $39.48 | $39.95 | +1.19% |
| Apr 30, 2024 | $39.45 | $39.30 | -0.38% |
| Jan 30, 2024 | $34.99 | $35.42 | +1.23% |
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.
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FAQ
When does MPLX LP (MPLX) report earnings?
MPLX LP (MPLX) is schdueled to report earning on Feb 04, 2025, Before Open Not Confirmed.
What is MPLX LP (MPLX) earnings time?
MPLX LP (MPLX) earnings time is at Feb 04, 2025, Before Open Not 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 2024 (Q4) is $1.03.
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