NYSE$MPLX
MPLX LP · Q2 2026 earnings
Q2 2026 earnings · · Before market open · Investor relations
Briefing
MPLX LP reported second-quarter 2026 net income of $1.077 billion and adjusted EBITDA of $1.775 billion.
MPLX LP delivered solid Q2 2026 results with net income attributable to MPLX of $1.077 billion, up from $1.048 billion in Q2 2025. Adjusted EBITDA rose to $1.775 billion, supported by growth in the Natural Gas and NGL Services segment. The partnership generated $1.702 billion in operating cash flow and returned $1.1 billion of capital to unitholders while advancing key growth projects.
- Net income attributable to MPLX reached $1.077 billion, with adjusted EBITDA at $1.775 billion.
- Natural Gas and NGL Services segment adjusted EBITDA grew 11% year-over-year to $614 million.
- Distributable cash flow totaled $1.45 billion, supporting a 12.5% distribution increase planned for 2026 and 2027.
- Growth capital spending outlook raised to $2.9 billion, focused on Permian and Marcellus natural gas and NGL infrastructure.
Headline financials
Revenue & EPS history
MPLX · Revenue · Quarterly
$3.08B
Forward guidance
MPLX expects mid-single digit adjusted EBITDA growth and 12.5% distribution increases in both 2026 and 2027, with growth capital spending raised to $2.9 billion focused on natural gas and NGL projects.
Tailwinds
- Harmon Creek III processing plant beginning operations in August 2026
- Expansion of Permian sour gas treating capacity progressing
- Over 90% of organic growth capital directed to natural gas and NGL infrastructure
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
+0.0%
Avg return
Earnings day
-0.6%
Avg return
5 days after
+1.0%
Avg return
30 days after
47%
22 / 47 earnings
Positive
+10.2%
Q3 2015
Best reaction
-25.5%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | -2.7% | -5.5% | -1.5% | |
| Q4 2025 | -0.1% | +1.2% | +6.0% | |
| Q3 2025 | +0.7% | +0.8% | +9.9% | |
| Q2 2025 | -3.5% | -4.4% | -3.6% | |
| Q1 2025 | -1.7% | -3.0% | +1.3% | |
| Q4 2024 | +2.4% | +3.4% | +1.8% | |
| Q3 2024 | +4.8% | +3.7% | +12.1% | |
| Q2 2024 | +0.7% | -0.9% | +4.4% | |
| Q1 2024 | -0.9% | -2.0% | -4.2% | |
| Q4 2023 | +1.3% | -1.6% | +1.0% | |
| Q3 2023 | +0.3% | +0.3% | +1.4% | |
| Q2 2023 | -0.5% | -2.1% | -1.7% | |
| Q1 2023 | +0.2% | -2.6% | -4.4% | |
| Q4 2022 | +0.4% | -1.7% | +0.4% | |
| Q3 2022 | +1.6% | +1.6% | +0.9% | |
| Q2 2022 | -0.3% | -6.8% | +0.1% | |
| Q1 2022 | +5.3% | +0.4% | +1.9% | |
| Q4 2021 | -1.7% | -2.8% | -4.0% | |
| Q3 2021 | +1.0% | +1.9% | -4.3% | |
| Q2 2021 | -2.9% | -4.3% | +3.2% | |
| Q1 2021 | +4.9% | +3.7% | +6.3% | |
| Q4 2020 | +3.2% | +1.2% | +9.4% | |
| Q3 2020 | +7.3% | +2.2% | +26.7% | |
| Q2 2020 | +7.5% | +0.7% | -2.2% | |
| Q1 2020 | -1.8% | +1.5% | +15.4% | |
| Q4 2019 | -1.1% | -4.4% | -15.8% | |
| Q3 2019 | -1.7% | -1.2% | -10.2% | |
| Q2 2019 | -1.6% | -7.1% | -4.9% | |
| Q1 2019 | -4.6% | -4.9% | -3.5% | |
| Q4 2018 | -5.6% | -4.0% | -4.1% | |
| Q3 2018 | -1.8% | +1.2% | -1.4% | |
| Q2 2018 | +0.1% | +1.8% | +1.6% | |
| Q1 2018 | +4.0% | +1.9% | +5.0% | |
| Q4 2017 | -2.3% | -2.7% | -7.0% | |
| Q3 2017 | +8.8% | +8.6% | +9.2% | |
| Q2 2017 | -0.7% | +0.6% | -6.7% | |
| Q1 2017 | -3.2% | -2.4% | -6.5% | |
| Q4 2016 | -0.6% | +1.1% | +0.3% | |
| Q3 2016 | +5.0% | +8.1% | +5.3% | |
| Q2 2016 | -1.0% | -4.5% | +2.1% | |
| Q1 2016 | -0.7% | — | — | |
| Q4 2015 | -25.5% | — | — | |
| Q3 2015 | +10.2% | — | — | |
| Q2 2015 | -1.5% | — | — | |
| Q1 2015 | -3.0% | — | — | |
| Q4 2014 | +0.3% | — | — | |
| Q3 2012 | +2.7% | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — |
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