MPLX LP Earnings: Here’s Why the Stock is Down Now
MPLX LP (NYSE:MPLX) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.41%.
MPLX LP Earnings Cheat Sheet
Revenue: Rose 12.34% to $114.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: MPLX LP reported adjusted EPS income of $0.26 per share. By that measure, the company met the mean analyst estimate of $0.26. It missed the average revenue estimate of $124.02 million.
Quoting Management: “MPLX is executing on its commitment to increase unitholder value,” said MPLX Chairman and Chief Executive Officer Gary R. Heminger. “We are pleased to increase our distribution so soon after MPLX`s formation and initial public offering. We believe our May 1 acquisition positions us to support distribution growth in the near term, and is consistent with our intent to provide an attractive growth profile over the long term.”
Key Stats (on next page)…