Overview

* MPLX ( MPLX ) Q3 net income rises to $1.5 bln from $1.0 bln last year

* Adjusted EBITDA for Q3 beats analyst expectations

* Company increases quarterly distribution by 12.5% for second consecutive year

Outlook

* MPLX ( MPLX ) is expanding Permian and Marcellus processing capacity to meet producer demand

* MPLX ( MPLX ) expects Eiger Express pipeline to be operational by mid-2028

* MPLX plans to divest Rockies assets for $1 bln, closing expected in Q4 2025

Result Drivers

* ACQUISITIONS AND DIVESTITURES - MPLX's ( MPLX ) acquisition of a Delaware basin sour gas treating business and divestiture of Rockies assets were part of its portfolio optimization strategy

* SEGMENT GROWTH - Crude Oil and Products Logistics and Natural Gas and NGL Services segments saw EBITDA increases due to higher rates and volumes

* INVESTMENTS IN GROWTH - MPLX ( MPLX ) is investing in Permian and Marcellus basins and progressing long-haul pipeline projects to support increased producer activity

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $1.54

Income bln

Q3 Meet $1.76 $1.76

Adjusted bln bln (10

EBITDA Analysts

)

Q3 $1.80

Income bln

from

Operatio

ns

Q3 $400 mln

Operatin

g

Expenses

Q3 $1.55

Pretax bln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "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 10% above its November 3 closing price of $50.85

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

Press Release:

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(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.)