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MPLX MPLX Q1 2026 earnings

Reported May 5, 2026 · Before market open

Revenue$2.8BMiss by $287.1MDiluted EPS$0.90Miss by $0.15
Revenue estimate$3.1B
EPS estimate$1.05

Next report

Aug 4, 2026 (In 3 weeks)
Revenue estimate$3.2B
EPS estimate$1.08

Financials

Q1 2026

Income statement

See full
Revenue$3.0B-2.8%
Operating income$1.2B-11.1%
Net income$922.0M-18.8%
EPS (diluted)$0.90-18.2%

Balance sheet

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Cash & equivalents$1.5B-40.6%
Total debt$267.0M-5.3%
Total assets$42.9B+10.2%

Cash flow

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Operating cash flow$1.3B+8.1%
CapEx$575.0M+115%
Free cash flow$772.0M-21.1%

Valuation & ratios

Valuation

as of 07/09/26
See full
Market cap$58.29B+5.9%
Enterprise value$57.05B+8.1%
P/E12.3×0.0×
P/S4.5×0.0×

Profitability

See full
Operating margin44.8%+0.6pp
Net margin36.7%0.0pp
FCF margin30.2%-9.4pp

Returns & leverage

See full
Current ratio1.1×0.0×

Segments

By segment

See full
Crude Oil and Products Logistics$1.6B+1.8%
Natural Gas & NGL Services$1.4B-7.4%

By product

See full
Service$1.8B+1.6%

Versus estimates

Revenue

Q1 2026$2.8BMiss by $287.1M
Q4 2025$3.3BBeat by $76.9MQ3 2025$3.6BBeat by $460.3MQ2 2025$2.8BMiss by $351.0MQ1 2025$2.9BMiss by $276.9MQ4 2024$2.8BMiss by $233.1M

Diluted EPS

Q1 2026$0.90Miss by $0.15
Q4 2025$1.17Beat by $0.11Q3 2025$1.52Beat by $0.45Q2 2025$1.03Miss by $0.03Q1 2025$1.10In lineQ4 2024$1.07Beat by $0.03

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Questions, answered.

When did MPLX report Q1 2026 earnings?
MPLX (MPLX) reported Q1 2026 earnings on May 5, 2026 before market open.
What were MPLX's Q1 2026 revenue and EPS?
MPLX reported revenue of $2.8B and diluted EPS of $0.90 for Q1 2026.
Did MPLX beat estimates in Q1 2026?
Revenue missed the consensus estimate of $3.1B by $287.1M. EPS missed the consensus estimate of $1.05 by $0.15.
How did MPLX's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 2.8% from $2.9B a year earlier and diluted EPS declined 18.2% from $1.10.
Where can I find MPLX's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001552000-26-000023) and the 10-Q periodic report (0001552000-26-000025) directly on SEC EDGAR. The filing index links above go to sec.gov.