MPLX Q3 net income falls to $1.2 billion as adjusted EBITDA rises 5.3%
MPLX reported third-quarter 2026 net income attributable to MPLX of $1,164 million, down from $1,545 million a year earlier, while adjusted EBITDA rose 5.3% to $1,859 million. The partnership also raised its quarterly distribution 12.5% to $1.2111 per unit, the third straight annual increase, which matters to unitholders because cash returned to them is the main reason they hold the units.
Key points
- Net income attributable to MPLX was $1,164 million versus $1,545 million in Q3 2025; the year-earlier period included a $484 million gain on equity method investments.
- Adjusted EBITDA was $1,859 million, up $93 million, with $77 million of incentive compensation expense versus $40 million a year earlier.
- Quarterly distribution rose to $1.2111 per common unit, or $4.84 annualized, with distribution coverage of 1.3x and leverage at 3.8x.
- A $750 million sale of associated logistics assets is expected to close at the end of 2026.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 03, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.