I shared my “Strong Buy” MPLX LP (NYSE: MPLX ) recommendation in May , and the stock has delivered almost 15% to investors since then. The stock has performed better than the S&P 500 Index (Coming from an IT background, I have dived into the U.S. stock market seven years ago by managing portfolio of my family. Starting managing real money has been challenging for the first time, but long hours of mastering fundamental analysis of public companies paid off and now I feel very confident in my investment decis ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ FORM 10-Q ____________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | --- | |--------- ...

Financial Data and Key Metrics Changes - MPLX reported record adjusted EBITDA of $1.7 billion for Q3 2024, a 7% increase compared to Q3 2023 [8] - Distributable cash flow was $1.4 billion, supporting nearly $950 million returned to unitholders [9][27] - The distribution was increased by 12.5% to approximately $3.83 per unit annualized, with strong distribution coverage of 1.5 times [28][31] Business Line Data and Key Metrics Changes - The Logistics and Storage (L&S) segment adjusted EBITDA increased by $66 million year-over-year, driven by higher rates and throughputs [21] - The Gathering and Processing (G&P) segment also set a new record with adjusted EBITDA increasing by $52 million compared to Q3 2023, supported by increased volumes from acquired assets [22] - Total gathered volumes were up 8% year-over-year, with processing volumes increasing by 9% [23][24] Market Data and Key Metrics Changes - The U.S. refining industry is expected to remain structurally advantageous over the rest of the world, with Marathon's refining assets considered highly competitive [11] - MPLX handles over 10% of all natural gas produced in the U.S., achieving a new daily record of over 10 billion cubic feet per day [26] Company Strategy and Development Direction - MPLX's capital spending is expected to exceed $1 billion for the year, focusing on growth in natural gas and NGL assets [12] - The company is advancing its strategic growth objectives with projects like the Harmon Creek III processing plant, expected to enhance its position as the largest processor of natural gas in the Northeast [14] - The company is committed to operational excellence and continuous improvements, as demonstrated by the Bluestone plant achieving ENERGY STAR certification [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of cash flows and the potential for continued distribution increases, supported by strong growth opportunities [31] - The company is well-positioned to support the development plans of producer customers as demand for natural gas-powered electricity increases [10][11] - Management highlighted the importance of maintaining strict capital discipline while exploring growth opportunities [60] Other Important Information - MPLX's leverage was reported at 3.4 times at the end of the quarter, with a cash balance of $2.4 billion [28] - The company closed the acquisition of additional interest in the BANGL pipeline, increasing ownership to 45% [17] Q&A Session Summary Question: What drove the increase in distribution this year? - Management indicated that the durability of cash flows was the main reason for the 12.5% increase compared to previous years' 10% [35] Question: Can you provide insights on the Marcellus project opportunities? - Management noted that the Marcellus is a significant area for MPLX, with ongoing discussions with producer customers about future needs [39][42] Question: How do you view future growth opportunities, including M&A? - Management emphasized a focus on organic growth opportunities while remaining open to bolt-on acquisitions as needed [46][48] Question: What is the status of the Rio Bravo pipeline project? - Management confirmed that the project is moving forward on schedule despite recent legal challenges [49] Question: How does MPLX plan to support increased natural gas demand? - Management stated that MPLX is well-positioned to support producer customers as demand for natural gas increases, particularly in relation to data centers [51][52] Question: Can you provide an update on the Texas City frac and storage project? - Management indicated that the evaluation process is ongoing, focusing on capital discipline and strategic alternatives [54][66] Question: What is the outlook for distribution growth sustainability? - Management expressed confidence in maintaining the 12.5% distribution growth for a period, supported by strong cash flow growth [57][58] Question: How does MPLX view dropdown opportunities from Marathon? - Management stated that dropdowns are not a priority but will be considered if they align with organic growth opportunities [61][62]

1 Third Quarter 2024 Earnings Conference Call November 5, 2024 Forward‐Looking Statements and Non-GAAP Financial Measurements This presentation contains forward-looking statements regarding MPLX LP (MPLX). These forward-looking statements may relate to, among other things, MPLX's expectations, estimates and projections concerning its business and operations, financial priorities, including with respect to positive free cash flow and distribution coverage, strategic plans, capital return plans, capital expen ...

Exhibit 99.1 MPLX LP Reports Third-Quarter 2024 Financial Results • Third-quarter net income attributable to MPLX of $1.0 billion and net cash provided by operating activities of $1.4 billion • $1.7 billion of adjusted EBITDA attributable to MPLX and $1.4 billion of distributable cash flow • $949 million of capital returned to unitholders • Increased quarterly distribution by 12.5% to $3.83 per unit annualized • Executing growth strategy in the Northeast with additional processing plant; expected to bring t ...

FINDLAY, Ohio, Nov. 5, 2024 /PRNewswire/ -- Third-quarter net income attributable to MPLX of $1.0 billion and net cash provided by operating activities of $1.4 billion $1.7 billion of adjusted EBITDA attributable to MPLX and $1.4 billion of distributable cash flow $949 million of capital returned to unitholders Increased quarterly distribution by 12.5% to $3.83 per unit annualized Executing growth strategy in the Northeast with additional processing plant; expected to bring total processing and fractionatio ...

MPLX LP (MPLX) is set to report third-quarter 2024 results on Nov. 5 before the opening bell.The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.06 per unit, implying an improvement of 19.1% from the year-ago reported number. Estimates have not been revised in the past 30 days. The Zacks Consensus Estimate for third-quarter revenues is currently pegged at $3.04 billion, suggesting a 4.4% uptick from the year-ago actuals. Image Source: Zacks Investment ResearchMPLX beat the consensus esti ...

Long-Term Focussed In-Depth Fundamental Analysis.Former Associate at a $10 billion hedge fund, with 15 years of professional experience in equity markets. Holds a First-Class Honours degree in Financial Economics from the University of London and is a CFA Level III candidate.An avid reader and a Berkshire Hathaway buff.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrot ...

FINDLAY, Ohio, Oct. 29, 2024 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $0.9565 per common unit for the third quarter of 2024, or $3.826 on an annualized basis. This represents a 12.5% increase, or $0.1065 increase per common unit, over the second quarter 2024 distribution. The distribution will be paid on Nov. 15, 2024, to common unitholders of record as of Nov. 8, 2024. Qualified Tax Notice Concurrent with this announ ...

I am focused on growth and dividend income. My personal strategy revolves around setting myself up for an easy retirement by creating a portfolio which focuses on compounding dividend income and growth. Dividends are an intricate part of my strategy as I have structured my portfolio to have monthly dividend income which grows through dividend reinvestment and yearly increases. Feel free to reach out to me on Seeking Alpha Analyst's Disclosure: I/we have a beneficial long position in the shares of ET, EPD, K ...