MPLX - MPLX LP (MPLX) Q1 2024 Earnings Call Transcript

2024-04-30 11:56:08 ET

MPLX LP (MPLX)

Q1 2024 Results Conference Call

April 30, 2024 09:30 AM ET

Company Participants

Kristina Kazarian - VP, Finance & IR

Mike Hennigan - Chairman, President and CEO

Kris Hagedorn - EVP and CFO

Greg Floerke - EVP and COO

Dave Heppner - SVP, Strategy and Business Development

Conference Call Participants

John Mackay - Goldman Sachs

Manav Gupta - UBS

Jeremy Tonet - JPMorgan

Theresa Chen - Barclays

Keith Stanley - Wolfe Research

Neal Dingmann - Truist Securities

Presentation

Operator

Welcome to the MPLX First Quarter 2024 Earnings Call. My name is Sheila, and I will be your operator for today's call. [Operator Instructions] Please note that this conference is being recorded.

I will now turn the call over to Kristina Kazarian. Kristina, you may begin.

Kristina Kazarian

Good morning, and welcome to the MPLX’s first quarter 2024 earnings conference call. The slides that accompany this call can be found on our website at mplx.com, under the Investor tab.

Joining me on the call today are Mike Hennigan, Chairman and CEO; Kris Hagedorn, CFO and other members of the executive team. We invite you to read the safe harbor statements and non-GAAP disclaimer on Slide 2. It's a reminder that we will be making forward-looking statements during the call and during the question-and-answer session that follows.

Actual results may differ materially from what we expect today. Factors that could cause actual results to differ are included there, as well as in our filings with the SEC.

With that, I'll turn the call over to Mike.

Mike Hennigan

Thanks, Kristina. Good morning, and thank you for joining our call.

Earlier today, we reported first quarter results. Our business continues to grow and delivered adjusted EBITDA of $1.6 billion and distributable cash flow of $1.4 billion each an 8% increase year-over-year. In line with our commitment to return capital, the growth of MPLX's cash flow supported the return of $951 million to unitholders....

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