MPLX LP

NYSE:MPLXUnited States

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• MPLX Q1 Net Income, Revenue Rise, from 39 minutes ago by MT Newswires

  39 minutes ago by MT Newswires
  Companies Mentioned: MPLX
  08:42 AM EDT, 04/30/2024 (MT Newswires) -- MPLX LP (MPLX) reported Q1 net income Tuesday of $0.98 per diluted unit, up from $0.91 a year earlier. Analysts polled by Capital IQ expected $0.96. Revenue and other income for the quarter ended March 31 ...

• -- Earnings Flash (MPLX) MPLX LP Reports Q1 Revenue $2.85B, vs. Street Est of $2.9B, from 2 hours ago by MT Newswires

  2 hours ago by MT Newswires
  Companies Mentioned: MPLX
  06:51 AM EDT, 04/30/2024 (MT Newswires) -- ...

• MPLX LP Reports First-Quarter 2024 Financial Results, from 2 hours ago by Dow Jones

  2 hours ago by Dow Jones
  Companies Mentioned: MPC, MPLX
  Garyville incident response costs 16 -- 16 Other 117 27 100 ------ ------ ------------ LTM Adjusted EBITDA 6,428 5,940 6,311 Adjusted EBITDA attributable to noncontrolling interests (43) (39) (42) ------ ------ ------------ LTM Adjusted EBITDA attributable to MPLX LP 6,385 5,901 6,269 Consolidated total debt(a) $20,706 $20,707 $ 20,706 Consolidated total debt to LTM 3.2x 3.5x 3.3x adjusted EBITDA(b) (a) Consolidated total debt excludes unamortized debt issuance costs and unamortized discount/premium. Consolidated total debt includes long-term debt due within one year and outstanding borrowings under the loan agreement with MPC. (b) Also referred to as our leverage ratio. Reconciliation of Adjusted EBITDA Attributable to MPLX LP and DCF Attributable to GP and LP Unitholders from Net Cash Provided by Operating Three Months Ended Activities (unaudited) March 31, (In millions) 2024 2023 ----------------------------------------------- --------- -------- Net cash provided by operating activities $ 1,291 $ 1,227 Changes in working capital items 62 48 All other, net 3 (9) Loss on extinguishment of debt -- 9 Adjusted net interest and other financial costs(a) 222 217 Other adjustments related to equity method investments 20 13 Other 48 24 --------- -------- Adjusted EBITDA 1,646 1,529 Adjusted EBITDA attributable to noncontrolling interests (11) (10) --------- -------- Adjusted EBITDA attributable to MPLX LP 1,635 1,519 Deferred revenue impacts 13 12 Sales-type lease payments, net of income 5 4 Adjusted net interest and other financial costs(a) (222) (217) Maintenance capital expenditures, net of reimbursements (35) (44) Equity method investment maintenance capital expenditures paid out (4) (5) Other (22) (1) --------- -------- DCF attributable to MPLX LP 1,370 1,268 Preferred unit distributions(b) (10) (28) --------- -------- DCF attributable to GP and LP unitholders $ 1,360 $ 1,240 ========= ======== (a) Represents Net interest and other financial costs excluding gain/loss on extinguishment of debt and amortization of deferred financing costs. (b) Includes MPLX distributions declared on the Series A preferred units and Series B preferred units, as well as cash distributions earned by the Series B preferred units (as the Series B preferred units are declared and payable semi-annually). The Series B preferred units were redeemed effective February 15, 2023. Cash distributions declared/to be paid to holders of the Series A preferred units and Series B preferred units are not available to common unitholders. Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow and Adjusted Free Cash Flow after Distributions Three Months Ended (unaudited) March 31, (In millions) 2024 2023 ----------------------------------------------- --------- -------- Net cash provided by operating activities(a) $ 1,291 $ 1,227 Adjustments to reconcile net cash provided by operating activities to adjusted free cash flow Net cash used in investing activities(b) (996) (220) Contributions from MPC 10 8 Distributions to noncontrolling interests (11) (10) --------- -------- Adjusted free cash flow 294 1,005 Distributions paid to common and preferred unitholders (876) (821) --------- -------- Adjusted free cash flow after distributions $ (582) $ 184 ========= ======== (a) The three months ended March 31, 2024, and March 31, 2023, include working capital builds of $62 million and $48 million, respectively. (b) The three months ended March 31, 2024 includes the impact of $622 million, net of cash acquired, related to the Utica Midstream Acquisition and a contribution of $92 million to Dakota Access to fund our share of a debt repayment by the joint venture. Three Months Ended Capital Expenditures (unaudited) March 31, (In millions) 2024 2023 ----------------------------------------------- ---------- ------- Capital Expenditures: Growth capital expenditures $ 165 $ 139 Growth capital reimbursements (21) (33) Investments in unconsolidated affiliates 119 51 Capitalized interest (4) (3) ---------- ------- Total growth capital expenditures(a) 259 154 Maintenance capital expenditures 45 52 Maintenance capital reimbursements (10) (8) Total maintenance capital expenditures 35 44 Total growth and maintenance capital expenditures 294 198 Investments in unconsolidated affiliates(b) (119) (51) Growth and maintenance capital reimbursements(c) 31 41 Decrease/(Increase) in capital accruals 45 (22) Capitalized interest 4 3 ---------- ------- Additions to property, plant and equipment $ 255 $ 169 ========== ======= (a) Total growth capital expenditures exclude $622 million of acquisitions, net of cash acquired, for the three months ended March 31, 2024. (b) Investments in unconsolidated affiliates and additions to property, plant and equipment, net are shown as separate lines within investing activities in the Consolidated Statements of Cash Flows. (c) Growth capital reimbursements are generally included in changes in deferred revenue within operating activities in the Consolidated Statements of Cash Flows. Maintenance capital reimbursements are included in the Contributions from MPC line within financing activities in the Consolidated Statements of Cash Flows.
  

• Press Release: MPLX LP Reports First-Quarter 2024 Financial Results, from 2 hours ago by Dow Jones

  2 hours ago by Dow Jones
  Companies Mentioned: MPLX