NYSE$MPLX

MPLX LP · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

MPLX reported Q4 2025, net income of $1.19B.

For Q4 2025, MPLX reported net income of $1.19B. Management discusses segment performance, capital allocation, and outlook in the earnings release.

  • Net income $1.19B.
  • MPLX highlights liquidity, operations, and near-term priorities.
  • MPLX highlights liquidity, operations, and near-term priorities.

Headline financials

Total Revenue

$3.25B

Previous: $3.06B+6.2%
EPS (adj)

$1.17

Previous: $1.07+9.3%
Total Gathering Throughput

6.8K

Previous: 6.7B-100.0%
Natural Gas Processed

9.8K

Previous: 9.9B-100.0%
C2+ NGLs Fractionated

666

Previous: 683.0K-99.9%
Terminal Throughput

3.1K

Previous: 3.1M-99.9%
Product Pipelines Tariff

$1.08

Previous: $1.03+4.9%
Crude Oil Pipelines Tariff

$1.05

Previous: $1.08-2.8%
Product Pipelines Throughput

2.1K

Previous: 2.0M-99.9%
Crude Oil Pipeline Throughput

3.8K

Previous: 3.8M-99.9%
Barges in Operation

322

Previous: 319+0.9%
Towboats in Operation

30

Previous: 29+3.4%
Net Income

$1.19B

Previous: $1.11B+7.6%
Operating Income

$1.48B

Previous: $1.34B+10.4%

Revenue & EPS history

MPLX · Revenue · Quarterly

$3.25B

Q4 2025+6.2%vs Q4 2024
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Forward guidance

The release discusses MPLX's outlook for upcoming periods, including capital allocation, operating priorities, and market risks.

Tailwinds

  • Mid-single-digit adjusted EBITDA growth targeted for 2026.
  • MPLX cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.
  • Commodity and midstream volume volatility remain key risks.

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 Q4 2025

Historical avgQ4 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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