MPLX Q1 net income up 12%; adjusted EBITDA $1.39B; distribution $0.705/unit

MPLX LP

Net income attributable to MPLX $825M ($0.81? per unit) vs $739M in Q1 2021; adjusted EBITDA $1,393M vs $1,352M.
Distributable cash flow $1,210M; distribution $0.7050/unit (1.65x coverage); leverage 3.7x.
L&S segment adjusted EBITDA $904M (+$8M YoY); G&P segment $489M (+$33M YoY) on higher NGL prices.
Returned over $850M to unitholders via distributions and $100M unit repurchases; $237M remaining on buyback authorization.
Issued $1.5B of 4.950% senior notes due 2052; Torñado-2 plant and Smithburg de-ethanizer expected online H2 2022.

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