Quarterly ResultMay 5, 2026, 01:11 PM
MPLX Q1 Net Income $912M, down from $1.13B; EPS $0.90
AI Summary
MPLX LP reported a decrease in net income and diluted EPS for the first quarter of 2026 compared to the prior year, with net income attributable to MPLX LP falling to $912 million. Total revenues and other income also saw a slight decline. Despite this, the company experienced an increase in net cash provided by operating activities and significantly higher capital expenditures, while also declaring an increased cash distribution per common unit. The results reflect a mixed performance across its segments, with growth in Crude Oil and Products Logistics offset by a decline in Natural Gas and NGL Services.
Key Highlights
- Net income attributable to MPLX LP was $912 million for Q1 2026, down from $1,126 million in Q1 2025.
- Diluted net income per limited partner unit was $0.90 for Q1 2026, down from $1.10 in Q1 2025.
- Total revenues and other income decreased to $3,038 million in Q1 2026 from $3,124 million in Q1 2025.
- Net cash provided by operating activities increased to $1,347 million in Q1 2026 from $1,246 million in Q1 2025.
- Total capital expenditures were $575 million in Q1 2026, significantly up from $267 million in Q1 2025.
- MPLX declared a cash distribution of $1.0765 per common unit for Q1 2026, up from $0.9565 in Q1 2025.
- Crude Oil and Products Logistics Segment Adjusted EBITDA was $1,111 million, up from $1,097 million year-over-year.
- Natural Gas and NGL Services Segment Adjusted EBITDA was $618 million, down from $660 million year-over-year.
Price Impact
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