Earnings Beat: MPLX LP (MPLX - Free Report) reported third 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 Q3 earnings, MPLX LP delivered negative surprises in two of the prior four quarters. Overall, the partnership has an average negative earnings surprise of 5.4% in the trailing four quarters.
MPLX LP Price and EPS Surprise
Revenues Beat: MPLX LP posted revenues of $2,280 million, beating the Zacks Consensus Estimate of $2,245 million.
Key Stats: MPLX’s operating income from Logistics and Storage segment witnessed a jump of 52.4% from the prior-year quarter to $713 million.
Operating income from Gathering and Processing segment increased to $213 million from $204 million in the prior-year quarter.
Zacks Rank: Currently, MPLX LP carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this MPLX LP earnings report later!
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