MPLX owns and operates pipelines, terminals, storage facilities, and processing plants that transport and handle crude oil, refined products, natural gas, and natural gas liquids. Operating as a master limited partnership, it generates predominantly fee-based revenue from long-term contracts for gathering, transportation, fractionation, and storage services. Its infrastructure primarily supports energy producers, refiners, and marketers in the United States.
| Quarter | Revenue | YoY % | Earnings | YoY % |
|---|---|---|---|---|
| Q1 2025 | 2,887 | — | 1,126 | 13.7% |
| Q2 2025 | 2,788 | — | 1,048 | -10.8% |
| Q3 2025 | 2,905 | — | 1,545 | 49.1% |
| Q4 2025 | 2,894 | — | 1,193 | 9.4% |
| Q1 2026 | 2,806 | -2.8% | 912 | -19% |
| Q2 2026 | 3,082 | 10.6% | 1,077 | 2.8% |
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