Earnings Beat: MPLX LP (MPLX - Free Report) reported first quarter adjusted earnings of 61 cents per unit, beating the Zacks Consensus Estimate of 59 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has seen no movement in the last seven days.
Before posting Q1 earnings, MPLX LP delivered positive surprises in two of the prior four quarters. Overall, the partnership has an average positive earnings surprise of 6.3% in the trailing four quarters.
Revenues Miss: MPLX LP posted revenues of $1,646 million, missing the Zacks Consensus Estimate of $1,658 million.
Key Stats: MPLX’s operating income from Logistics and Supply segment witnessed a jump of 25% from the prior-year quarter to $480 million.
Operating income from Gathering and Processing segment increased to $198 million from $172 million in the prior-year quarter.
Zacks Rank: Currently, MPLX LP carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
(You can see the complete list of today’s Zacks #1 Rank stocks here.)
Check back later for our full write up on this MPLX LP earnings report later!
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