Overview

* MPLX ( MPLX ) Q2 net income falls to $1.048 bln from $1.176 bln yr ago

* Adjusted EBITDA rises to $1.690 bln, reflecting growth strategy execution

Result Drivers

* CRUDE OIL LOGISTICS - Higher rates and throughputs drove growth in adjusted EBITDA, partially offset by increased operating expenses

* NATURAL GAS SERVICES - Segment adjusted EBITDA slightly declined due to higher operating expenses and project spending, despite growth from equity affiliates

* ACQUISITION STRATEGY - Planned acquisition of Northwind Midstream to enhance Permian operations and support future growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net $1.05

Income bln

Q2 $1.69

Adjusted bln

EBITDA

Q2 $1.29

Income bln

from

Operatio

ns

Q2 $426 mln

Operatin

g

Expenses

Q2 $1.06

Pretax bln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas transportation services peer group is "buy"

* Wall Street's median 12-month price target for MPLX LP ( MPLX ) is $56.50, about 6.7% above its August 4 closing price of $52.71

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)