Earnings Releases·Nov 3, 2026, 8:07 AM ET

MPLX LP — Third Quarter 2026 Earnings Summary

Net income attributable to MPLX declined to $1,164 million from $1,545 million in the prior year period, while Adjusted EBITDA rose 5.3% to $1,859 million and distributable cash flow increased to $1,537 million.
Management raised the quarterly distribution by 12.5% for the third consecutive year to $1.2111 per unit (annualized $4.84), maintaining a 1.3x coverage ratio despite a 50% reduction in common unit repurchases to $50 million.
The company announced the sale of associated logistics assets for $750 million, expected to close at the end of 2026, and executed a $2.25 billion senior note issuance alongside the redemption of $1.25 billion in notes.
Future outlook targets mid-single digit Adjusted EBITDA growth driven by $2.9 billion in organic capital investments, primarily in natural gas and NGL infrastructure within the Permian and Marcellus basins.
Consolidated leverage stood at 3.8x at quarter-end, with the partnership aiming to maintain leverage near 4.0x, supported by $1.3 billion in cash and $4.0 billion in total available liquidity.