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MPLX Q2 Earnings Top on Higher Throughput Volumes

MPLX LP (NYSE: MPLX) reported second-quarter 2024 earnings of $1.15 per unit, which topped the Zacks Consensus Estimate of 98 cents. The bottom line also increased from the year-ago quarter's figure of 91 cents. Total quarterly revenues of $3.05 billion beat the Zacks Consensus Estimate of $2.92 billion. The top line also increased from the prior-year quarter's level of $2.69 billion. Strong quarterly results were primarily driven by higher gathered and processed throughput volumes. An increase in total pipeline throughputs also contributed to the same. MPLX LP Price, Consensus and EPS Surprise MPLX LP price-consensus-eps-surprise-chart | MPLX LP Quote Segmental Highlights MPLX's adjusted EBITDA from the Logistics and Storage segment increased to $1.13 billion from $1.02 billion a year ago. The strong performance was driven by increased rates, including growth from equity affiliates. Further, total pipeline throughputs in the second quarter were 6 million barrels per day, up 1% from the year-ago quarter's level. Adjusted EBITDA ...