MPLX LP Earnings Call Transcripts
Fiscal Year 2026
-
Q1 2026 Adjusted EBITDA exceeded $1.7 billion, with major projects ramping up to drive stronger back-half growth and support a 12.5% distribution increase for 2026 and 2027. Segment results were mixed, but robust capital deployment and strategic expansions underpin confidence in sustained mid-single-digit growth.
Fiscal Year 2025
-
Adjusted EBITDA reached $7B in 2025, with a 12.5% distribution increase and $4.4B returned to unit holders. 2026 growth is expected to exceed 2025, driven by major investments in natural gas and NGL projects, with a continued focus on high-return regions and disciplined capital allocation.
-
Q3 adjusted EBITDA rose 3% year-over-year to $1.8B, with strong cash returns and a 12.5% distribution increase. Strategic acquisitions and expansions in the Permian and Marcellus basins support a mid-single-digit EBITDA growth outlook, with both organic and M&A-driven growth expected.
-
Q2 adjusted EBITDA rose 2% YoY to $1.7B, driven by strategic acquisitions and organic growth. The Northwind Midstream deal expands Delaware Basin capacity and is expected to be immediately accretive, supporting mid-single digit EBITDA growth and a 12.5% annual distribution increase.
-
Adjusted EBITDA grew 7% year-over-year to $1.8 billion, driven by strong segment performance and strategic acquisitions. Robust production and volume growth are expected, with $1.7 billion in 2025 growth capital focused on natural gas and NGL services.
Fiscal Year 2024
-
Full-year adjusted EBITDA grew 8% to $6.8B, with strong segment performance and record cash returns to unit holders. Major investments in NGL infrastructure and robust 2025 growth capex support continued mid-single-digit EBITDA growth and distribution increases.
-
Record Q3 Adjusted EBITDA and DCF supported a 12.5% distribution increase, with strong growth in both L&S and G&P segments. Strategic investments in processing plants and pipelines underpin a positive outlook, while financial flexibility and disciplined capital allocation remain priorities.
-
Q2 2024 saw 8% Adjusted EBITDA and 7% DCF growth year-over-year, with $949 million returned to unit holders. Strategic expansions in the Permian, Marcellus, and Utica, plus new pipeline projects, support continued mid-single-digit growth and robust cash flow.