#United States #Findlay #MPLX LP #Traverse Pipeline #BANGL LLC

MPLX LP Reports First-Quarter 2025 Financial Results

On May 6, 2025, MPLX LP (NYSE: MPLX) revealed their financial results for the first quarter of 2025, marking a substantial achievement in terms of growth and performance within the energy sector. The company reported a net income of $1.1 billion, up from $1.0 billion during the same period last year, indicating a positive trend in their financial health.

Financial Highlights

In this quarter, MPLX realized robust net cash provided by operating activities amounting to $1.2 billion. Adjusted EBITDA attributable to the company reached $1.8 billion, a notable increase from the previous year’s figure of $1.6 billion. The company's strategic growth initiatives have played a crucial role in this success.

Quarterly Growth Metrics

• - Net Income: $1,126 million (Q1 2025) vs. $1,005 million (Q1 2024)
• - Adjusted EBITDA: $1,757 million (Q1 2025) vs. $1,635 million (Q1 2024)
• - Net Cash from Operating Activities: $1,246 million (Q1 2025) vs. $1,291 million (Q1 2024)
• - Distributable Cash Flow: $1,486 million (Q1 2025) vs. $1,370 million (Q1 2024)
• - Distribution per Common Unit: $0.9565 (218.2% coverage)

Maryann Mannen, the President and CEO of MPLX, highlighted, "We achieved a 7% increase in adjusted EBITDA year over year. Our projects in the Permian and Marcellus basins are set to uphold similar growth, leveraging high-return investments to benefit our unitholders."

Strategic Expansion Initiatives

As part of its commitment to expanding its natural gas and NGL services, MPLX has taken decisive steps towards enhancing its operational capabilities. This includes an agreement to acquire 100 percent ownership in BANGL, LLC, a strategic move that solidifies MPLX's position in the energy infrastructure sector. The acquisition is valued at $715 million and is anticipated to close by July, 2025, following the usual regulatory approvals.

Additionally, MPLX has announced the final investment decision (FID) for the Traverse pipeline—a bi-directional pipeline set to transport 1.75 billion cubic feet per day of natural gas across the Gulf Coast regions. This new asset is intended to commence operations by 2027 and is expected to significantly enhance shipping options for customers.

Continuous Growth in Core Segments

MPLX's financial performance is further supported by its Crude Oil and Products Logistics segment which recorded an adjusted EBITDA of $1,097 million, slightly improving compared to $1,059 million the previous year. This growth can be attributed to heightened throughput and improved rates, which were somewhat offset by an increase in operational costs.

In the Natural Gas and NGL Services segment, an adjusted EBITDA of $660 million was reported, a significant increase from $576 million in Q1 2024. The growth was driven by the higher volume delivered from the Permian and Utica basins and a unique one-off benefit from a corporate agreement.

Future Endeavors

MPLX is poised for ongoing growth, with several additional projects to bolster its service capacity and market reach. Notable planned developments include:

• - Gulf Coast Fractionators: Two fractionation facilities designed for 150,000 barrels per day are projected to come online in 2028 and 2029.
• - LPG Export Terminal: A collaboration with ONEOK, Inc. to create a 400,000 barrels per day LPG export terminal expected to launch in 2028.
• - Processing Plants: Increased processing capacities are scheduled to be operational by late 2025 to 2026.

MPLX's commitment to growth coupled with strategic acquisitions sets a foundation for expanding its influence within the energy sector, promising advantages for both the company and its stakeholders. The focus on operational efficiency and market-oriented investments positions MPLX strongly for further success in subsequent quarters.

MPLX will host a conference call at 9:30 a.m. ET to further discuss these results and projections in detail. Interested stakeholders are encouraged to tune in for additional insights and operational updates.

For more information, visit MPLX’s official website at www.mplx.com.