MPLX LP (MPLX) Form 10-Q — Aug 4, 2026

$MPLXForm 10-QFiled Aug 4, 2026, 1:43 PM ET0001552000-26-000038Original filing

MPLX LP reported second-quarter 2026 net income attributable to MPLX of $1,077 million, up $29 million from $1,048 million a year earlier, with diluted earnings per limited partner unit of $1.06 versus $1.03. Total revenues and other income rose $309 million to $3,312 million, and Adjusted EBITDA attributable to MPLX increased $85 million to $1,775 million, driven by higher NGL volumes and prices, rate escalations, and recent acquisitions. The partnership declared a Q2 cash distribution of $1.0765 per common unit, totaling $1,092 million and payable August 14, 2026, up from $0.9565 a year ago, and repurchased $50 million of units in the quarter with $1.0 billion remaining authorized.

Key figures

Eps: 1.06
Revenue: 3312
Guidance: 2026 capital outlook of $3.2 billion net of reimbursements ($2.9B growth, $300M maintenance); growth capital outlook increased by $500 million for accelerated Gulf Coast fractionation and export expansion
Net Income: 1077
Total Debt: $25,640 million ($24,389M long-term debt + $1,251M due within one year)
Revenue Yoy: +$309 million vs Q2 2025 (+10.3%)
Total Assets: 42969
Cash Position: 1031
Adjusted EBITDA: $1,775 million Q2 2026 attributable to MPLX LP (vs $1,690M Q2 2025)
Mpc Lp Ownership: approximately 64%
Total Liquidity: $5.03 billion at June 30, 2026
Net Interest Costs Q2: $289 million (up $55 million YoY)
Weighted Avg Lp Units: 1,015 million basic and diluted
Pipeline Throughput Q2: 5,876 mbpd (vs 6,103 mbpd Q2 2025)
Unit Buyback Remaining: $1.0 billion under authorizations
Distributable Cash Flow: $1,450 million Q2 2026 (vs $1,420M Q2 2025)
Q2 Distribution Per Unit: $1.0765 (vs $0.9565 Q2 2025), totaling $1,092 million
Adjusted FCFafter Distributions: -$424 million Q2 2026; -$968 million 1H 2026
Remaining Performance Obligations: $5.1 billion of fixed contracted revenue

Price after filing

1 day: +2.3%7 days: +2.9%30 days: +2.4%

Close on the filing date to close N calendar days later (from $57.61). Historical, not a forecast.

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