MPLX - High-Flying MPLX LP Continues Its High Financial Flight

2024-02-23 01:42:47 ET

Summary

• MPLX reported strong financial results for Q4, with adjusted EBITDA and DCF growth of nearly 9% and over 7%, respectively.
• The company announced a capital expenditure outlook of $1.1 billion for 2024, focused on organic projects and investments in the Marcellus and Permian basins.
• MPLX continues to see growth opportunities in its Northeast footprint, with increased drilling and production in the Marcellus and Utica basins.
• The rate of growth might be slowing, counter to what management might expect.

MPLX LP ( MPLX ) reported high-flying results for the 4th quarter. The amount of cash generated in that quarter ((DCF)) equaled " $1.4 billion [an] increase of 12% and 9% respectively from the prior year." Growth, for the year, equaled 9% and 7% with EBITDA and DCF respectively. Management wrote:

Our results reflect the continued growth of the partnership and its cash flows in our L&S segment, strong operational performance and customer demand drove record pipeline throughput, and strong growth in terminal throughput demonstrating the value of our relationship with MPC. In our G&P segment, we saw record throughput in our gathering, processing and fractionation operations driven mainly by our assets in the Marcellus and Permian basins."

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