MPLX LP declared a Q3 2026 quarterly cash distribution of $1.2111 per common unit, up 12.5%, or $0.1346, from the prior quarter. Net income was $1.164 billion, compared with $1.545 billion in Q3 2025, while adjusted EBITDA rose 5.3% to $1.859 billion. The Harmon Creek III processing plant began operations in August, and the company generated $1.5 billion in operating cash flow, returning $1.1 billion to unitholders. MPLX also agreed to sell assets in Minnesota and North Dakota to CVR Energy for $4.2 billion, intending to focus its portfolio on the Permian and Marcellus basins and reposition its asset mix.
The deal includes two refineries, a marketing platform and logistics assets, while MPLX plans to direct its proceeds mainly to the Gulf Coast and support growth in the Permian and Marcellus.
Read the full storyAnnualized third-quarter net income declined, while adjusted EBITDA rose 5.3% and distribution coverage was 1.3 times.
The decision lifts the annualized distribution to $4.84, supported by growth in gathering and processing volumes, as markets await the company’s results on November 3.