MPLX Lp: EPS $1.15 vs $1.13 expected; revenue $3.27B vs $3.35B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 1.15 | 1.13 | +1.8% | 1.52 |
| Revenue (USD bn) | 3.27 | 3.35 | −2.5% | 3.62 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Nov 3, 2026 | Q3 FY2026 | 1.15 | 1.13 | +1.8% | 3.27 | 3.35 | −2.5% |
| Aug 4, 2026 | Q2 FY2026 | 1.06 | 1.06 | 0.0% | 3.08 | 3.14 | −1.9% |
| May 5, 2026 | Q1 FY2026 | 0.90 | 1.05 | −14.3% | 2.81 | 3.09 | −9.3% |
| Feb 3, 2026 | Q4 FY2025 | 1.17 | 1.06 | +10.4% | 3.25 | 3.18 | +2.4% |
| Nov 4, 2025 | Q3 FY2025 | 1.52 | 1.07 | +42.1% | 3.62 | 3.16 | +14.6% |
| Aug 5, 2025 | Q2 FY2025 | 1.03 | 1.06 | −2.8% | 2.79 | 3.14 | −11.2% |
| May 6, 2025 | Q1 FY2025 | 1.10 | 1.10 | 0.0% | 2.89 | 3.16 | −8.8% |
| Feb 4, 2025 | Q4 FY2024 | 1.07 | 1.04 | +2.9% | 2.84 | 3.07 | −7.6% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
MPLX Lp results: EPS $1.15 vs $1.13 expected; revenue $3.27B vs $3.35B. The results cover the company's Q3 FY2026. EPS came in above analysts' estimate by 1.8%; revenue below the estimate by 2.5%.
Revenue was down 9.6% from $3.62 billion a year earlier (Q3 FY2025). EPS was down 24.3% from $1.52 a year earlier. On its record, EPS topped analysts' estimates in 3 of 7 earlier comparable reports.
What the results mean
MPLX’s operating performance improved as higher service rates and increased butane blending supported crude oil and products logistics. In natural gas and liquids services, increased volumes and acquisition contributions supported operating earnings, while rising operating expenses, incentive compensation and the divestiture of noncore assets constrained growth.
Investment activity focuses on connecting gas gathering and processing with transportation, liquids fractionation and access to export outlets, with projects concentrated in the Permian and Marcellus basins. The start of operations at the Harmon Creek facility and progress on sour gas treating expansion support this integration. Management highlighted durable cash flows as the foundation for increasing cash distributions.
What to watch on the earnings call: The durability of service rate and butane blending contributions to profitability, acquisition contributions to gas and liquids volumes, and control of operating expenses and incentive compensation. Also, progress on integrating sour gas treating facilities, operations and utilization at new assets, and balancing capital spending with cash distributions and liquidity.
For the full analysis of MPLX Lp stock — valuation, scores and financial statements — see the stock page linked with this story.