MPLX MPLX (MPLX) Q2 FY26 earnings call
MPLX delivered strong Q2 FY26 results, driven by consistent execution of strategic priorities and high-return project advancements in natural gas and NGL value chains. The company increased its capital spending outlook to accelerate key projects, positioning for back-half weighted adjusted EBITDA growth in 2026 and strong growth in 2027, while maintaining a commitment to annual distribution increases and a robust coverage ratio.
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MPLX operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Processing utilization Marcellus | 92%Marcellus processing utilization was 92% in the quarter, reflecting the ramp of our Harmon Creek II processing plant.Source: earnings call transcript | 92%Marcellus processing utilization was 92% in the quarter, reflecting continued strong producer activity in the region.Source: earnings call transcript | 95%Marcellus processing utilization was 95% for the quarter, reflecting robust producer activity in the region.Source: earnings call transcript | 97%Marcellus processing utilization was 97% for the quarter, nearing capacity as Harmon Creek II is positioned to come online on a just-in-time basis later this year.Source: earnings call transcript | 94%Marcellus processing utilization was 94% for the quarter, demonstrating the need for incremental capacity as Harmon Creek III is positioned to come online on a just-in-time basis in the third quarter.Source: earnings call transcript | 96%In the Northeast, Marcellus processing utilization of 96% in the quarter led to record volumes across our system, while strong production activity in the Utica supported processing utilization of 73%.Source: earnings call transcript | +2 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.