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MPLX LP (MPLX) Reports Q2 Earnings: What Key Metrics Have to Say
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MPLX LP (MPLX - Free Report) reported $2.69 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 8.5%. EPS of $0.91 for the same period compares to $0.83 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.48 billion, representing a surprise of +8.32%. The company delivered an EPS surprise of +5.81%, with the consensus EPS estimate being $0.86.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MPLX LP performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Pipeline throughput - Crude oil pipelines: 3834 MBBL/D versus the three-analyst average estimate of 3716.45 MBBL/D.
Pipeline throughput - Product pipelines: 2118 MBBL/D compared to the 2272.47 MBBL/D average estimate based on two analysts.
Average tariff rates - Product pipelines: $0.81 versus $0.82 estimated by two analysts on average.
Revenues and other income- Income from equity method investments: $145 million versus $116.96 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +30.6% change.
Adjusted EBITDA- Gathering and Processing: $509 million versus $485.65 million estimated by three analysts on average.
Adjusted EBITDA- Logistics and Storage: $1.02 billion versus $967.05 million estimated by three analysts on average.
Shares of MPLX LP have returned +4.4% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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MPLX LP (MPLX) Reports Q2 Earnings: What Key Metrics Have to Say
MPLX LP (MPLX - Free Report) reported $2.69 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 8.5%. EPS of $0.91 for the same period compares to $0.83 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.48 billion, representing a surprise of +8.32%. The company delivered an EPS surprise of +5.81%, with the consensus EPS estimate being $0.86.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MPLX LP performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Pipeline throughput - Crude oil pipelines: 3834 MBBL/D versus the three-analyst average estimate of 3716.45 MBBL/D.
- Pipeline throughput - Product pipelines: 2118 MBBL/D compared to the 2272.47 MBBL/D average estimate based on two analysts.
- Average tariff rates - Product pipelines: $0.81 versus $0.82 estimated by two analysts on average.
- Revenues and other income- Income from equity method investments: $145 million versus $116.96 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +30.6% change.
- Adjusted EBITDA- Gathering and Processing: $509 million versus $485.65 million estimated by three analysts on average.
- Adjusted EBITDA- Logistics and Storage: $1.02 billion versus $967.05 million estimated by three analysts on average.
View all Key Company Metrics for MPLX LP here>>>Shares of MPLX LP have returned +4.4% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.