CORRECTED-MPLX Q4 adjusted EBITDA slightly beats analyst expectations
Overview
Midstream energy firm's Q4 adjusted EBITDA slightly beat analyst expectations
Net income for Q4 rose compared to last year
Company announced 2026 organic growth capital plan of $2.4 bln
Outlook
MPLX plans $2.4 bln in organic growth capital for 2026
Company expects mid-single digit adjusted EBITDA growth in 2026
MPLX advancing Permian and Marcellus infrastructure to meet natural gas demand
Result Drivers
FERC TARIFF RULING - Crude Oil and Products Logistics segment benefited from a $37 mln gain due to a FERC tariff ruling, contributing to increased adjusted EBITDA
ASSET DIVESTITURE - Natural Gas and NGL Services segment saw a $10 mln decrease in adjusted EBITDA, impacted by divestiture of non-core assets and lower NGL prices
PERMIAN AND MARCELLUS EXPANSION - MPLX is focusing on growth in the Permian and Marcellus basins, with investments to enhance natural gas and NGL value chains
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue |
| $3.25 bln |
|
Q4 Net Income |
| $1.19 bln |
|
Q4 Adjusted EBITDA | Slight Beat* | $1.80 bln | $1.79 bln (11 Analysts) |
Q4 Income from Operations |
| $1.48 bln |
|
Q4 Operating Expenses (including purchased product costs) |
| $858 mln |
|
Q4 Pretax Profit |
| $1.21 bln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil & gas transportation services peer group is "buy"
Wall Street's median 12-month price target for MPLX LP is $57.00, about 3% above its February 2 closing price of $55.32
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nPn3kd9z9a
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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