NYSE$MPLX

MPLX LP · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

MPLX reported Q3 2025 total revenues and other income of $3.62B with net income attributable to MPLX of $1.55B.

Total revenues and other income were $3.62 billion with net income attributable to MPLX of $1.55 billion. Logistics and storage assets benefited from higher throughput and tariff activity tied to Marathon Petroleum's system.

  • Q3 total revenues and other income $3.62B.
  • Net income attributable to MPLX $1.55B.
  • Distribution growth supported by stable fee-based cash flows.
  • Integration with MPC refining system remains strategic.

Headline financials

Total Revenue

$3.62B

Previous: $2.97B+21.8%
EPS (adj)

$1.52

Previous: $1.01+50.5%
Total Gathering Throughput

6.9B

No prior period
Natural Gas Processed

10.1B

No prior period
C2+ NGLs Fractionated

677.0K

No prior period
Terminal Throughput

3.2M

No prior period
Product Pipelines Tariff

$1.09

No prior period
Crude Oil Pipelines Tariff

$1.08

No prior period
Product Pipelines Throughput

2.1M

No prior period
Crude Oil Pipeline Throughput

3.9M

No prior period
Barges in Operation

320

No prior period
Towboats in Operation

29

No prior period
Capital Expenditures

-$1.09B

Previous: -$748M-46.3%
Free Cash Flow

$461M

Previous: $299M+54.2%
Net Income

$1.56B

Previous: $1.05B+48.5%
Operating Income

$1.8B

Previous: $1.28B+41.3%
Gross Profit

$2.39B

Previous: $2.65B-10.0%
Cash & Equivalents

$1.77B

Previous: $2.43B-27.2%
Total Assets

$43.2B

Previous: $38.5B+12.2%

Revenue & EPS history

MPLX · Revenue · Quarterly

$3.62B

Q3 2025+21.8%vs Q3 2024
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Forward guidance

The filing discusses MPLX's outlook, capital deployment, and key risks without relying solely on numeric EPS guidance.

Tailwinds

  • MPLX cited execution on strategic priorities in the filing.
  • Balance sheet and liquidity support continued operations.
  • Midstream and refining cash flows support distributions.

Headwinds

  • Macro, competitive, and cost pressures may affect margins.
  • Segment mix and one-time items can affect comparability.
  • Commodity margin and throughput volatility.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

+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

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
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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