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MPLX LP Quarterly Report for Q2 Ended Jun 30, 2026

Filing Date
Filed August 4, 2026
Period End
June 30, 2026
Securities
MPLXMPLXP
In the record · 2016–202610-K1110-Q328-K137

MPLX filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 137 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Feb ’18Feb ’18
  2. Material agreement8-K · Sep ’19Sep ’19
  3. Leadership change8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 10-Q filed August 4, 2026. Cited figures are marked; the original filing is the authoritative source.

MPLX LP's (MPLX) third quarter 2026 Form 10-Q filing reveals a resilient financial performance, with net income attributable to MPLX LP totaling $1.077 billiona for the three months ended June 30, 2026, a slight increase from $1.048 billion in the same period last year.

Total revenues and other income saw a significant jump of $309 millionb, driven by strong performance in both the Crude Oil and Products Logistics and Natural Gas and NGL Services segments, with notable contributions from increased product-related revenue and rental income. Despite rising costs and expenses, particularly in purchased product costs and depreciation, the company managed to grow its Adjusted EBITDA to $1.775 billion for the quarter.

This financial strength allowed MPLX to maintain its robust distribution to unitholders, declaring a cash distribution of $1.0765c per common unit for the second quarter of 2026. The company also continues to execute its strategic growth initiatives, including expansions in its natural gas and NGL services, reinforcing its position in key energy markets.

02—Key points

Key Highlights

  1. Net income attributable to MPLX LP was $1.077 billion for the three months ended June 30, 2026, up from $1.048 billion in the prior year period.
  2. Total revenues and other income increased by $309 million to $3.312 billion for the quarter, driven by growth in both reporting segments.
  3. Adjusted EBITDA attributable to MPLX LP increased by $85 million to $1.775 billion for the three months ended June 30, 2026.
  4. The company declared a cash distribution of $1.0765 per common unit for the second quarter of 2026, totaling $1.092 billion.
  5. Capital expenditures for the six months ended June 30, 2026, were $1.784 billion, with a significant portion allocated to growth initiatives.
  6. The Natural Gas and NGL Services segment saw a substantial increase in total segment revenues and other income, up $256 million to $1.624 billion for the quarter, bolstered by higher NGL sales volumes and prices.
  7. MPLX maintained a strong liquidity position with $5.0 billion in total liquidity as of June 30, 2026.

03—Questions

Frequently Asked Questions

  1. How did MPLX's revenue and profitability perform in the second quarter of 2026 compared to the previous year?

    For the three months ended June 30, 2026, MPLX reported total revenues and other income of $3.312 billion, an increase of $309 million compared to $3.003 billion in the same period of 2025. Net income attributable to MPLX LP was $1.077 billion, a slight increase from $1.048 billion in the prior year. Adjusted EBITDA attributable to MPLX LP also increased by $85 million to $1.775 billion.

  2. What are the key drivers behind the revenue growth in the second quarter of 2026?

    Revenue growth was primarily driven by an increase in product-related revenue ($201 million) due to higher NGL sales volumes and prices, and an increase in rental income ($62 million) attributed to lease contract modifications and annual fee escalations. The Natural Gas and NGL Services segment experienced a significant revenue increase due to higher NGL sales volumes and prices, as well as contributions from recent acquisitions.

  3. How is MPLX returning capital to its unitholders?

    MPLX declared a cash distribution of $1.0765 per common unit for the second quarter of 2026, totaling $1.092 billion. This reflects the company's commitment to returning capital to its unitholders. The company also has a unit repurchase program, with $1.0 billion remaining under its authorizations as of June 30, 2026.

  4. What is the company's outlook for capital expenditures and strategic growth initiatives?

    MPLX has increased its 2026 capital expenditure outlook to $3.2 billion, with a significant portion ($2.9 billion) allocated to growth capital. Key growth initiatives include expanding its Permian to Gulf Coast integrated value chain, progressing long-haul pipeline projects, and investing in new gas processing plants. The company is also progressing expansions in its Permian sour gas treating capacity and the Harmon Creek III processing plant is expected to begin operations in August 2026.

04—Continue

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