MPLX Q1 net income $1.13B, adj. EBITDA $1.76B, announces $715M BANGL acquisition

MPLX LP

Q1 net income $1,126M (up 12% YoY); adj. EBITDA $1,757M (up 7% YoY).
Crude & Products adj. EBITDA $1,097M (+4%); Natural Gas & NGL adj. EBITDA $660M (+15%).
Distribution raised to $0.9565/unit (12.5% YoY), coverage 1.5x; leverage 3.3x.
Announced acquisition of remaining 55% of BANGL for $715M, close expected July 2025.
Acquired Whiptail Midstream gathering assets for $237M; increased Matterhorn stake 5% for $151M.

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