MPLX Q2 net income $875M; adjusted EBITDA $1.46B; authorizes $1B additional repurchase

MPLX LP

Net income $875M vs $706M YoY; adjusted EBITDA $1,457M vs $1,374M.
L&S segment income $811M (+3%); G&P segment income $306M (+112%) on higher NGL prices and volumes.
Generated $1,487M operating cash flow; returned >$750M to unitholders via distributions and buybacks.
Announced incremental $1B unit repurchase authorization; renewed 10-year transportation services agreements with MPC.
Distribution $0.7050/unit; coverage ratio 1.69x; leverage 3.5x; growth capex outlook remains $700M.

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