MPLX Q3 net income $802M, adj. EBITDA $1.39B; raises base distribution 2.5%, adds $0.575 special

MPLX LP

Net income $802M vs $665M YoY; adjusted EBITDA $1,389M vs $1,335M.
Q3 distribution $1.28/unit ($0.705 base + $0.575 special); payable Nov 19, record Nov 12.
L&S segment adjusted EBITDA $904M; G&P $485M; pipeline throughput up 17% YoY.
Generated $1.18B operating cash flow; 1.61x adjusted coverage; 3.7x leverage.
Exploring sale of Alaska logistics; Whistler Pipeline in service July; new NGL JV in service Oct 1.

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