Core Insights - MPLX LP reported a revenue of $3.62 billion for the quarter ended September 2025, marking a year-over-year increase of 21.8% and exceeding the Zacks Consensus Estimate by 10.43% [1] - The earnings per share (EPS) for the same period was $1.52, compared to $1.01 a year ago, resulting in an EPS surprise of 42.06% over the consensus estimate of $1.07 [1] Financial Performance Metrics - Average tariff rates for crude oil pipelines were $1.08, slightly above the estimated $1.05 [4] - Average tariff rates for product pipelines were $1.09, compared to the estimated $1.07 [4] - Pipeline throughput for crude oil pipelines was 3,867 million barrels, below the estimated 3,953.5 million barrels [4] - Natural gas processed in Southwest Operations was 1,983 million cubic feet, exceeding the estimate of 1,728.14 million cubic feet [4] - Total pipeline throughput was 5,922 million barrels, slightly below the estimated 6,027 million barrels [4] - Gathering throughput in Southwest Operations was 1,882 million cubic feet, above the estimate of 1,771.58 million cubic feet [4] - Pipeline throughput for product pipelines was 2,055 million barrels, below the estimated 2,073.5 million barrels [4] - Adjusted EBITDA for natural gas and NGL services was $629 million, slightly above the estimate of $609.77 million [4] - Adjusted EBITDA for crude oil and products logistics was $1.14 billion, compared to the estimated $1.13 billion [4] Stock Performance - MPLX LP shares have returned +4.3% over the past month, outperforming the Zacks S&P 500 composite's +1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]