MPLX Q2 net income $1.05B, adj EBITDA $1.69B; acquires Northwind Midstream for $2.375B

MPLX LP

Q2 net income attr. to MPLX $1,048M vs $1,176M YoY; adj. EBITDA rose to $1,690M from $1,653M.
Acquiring Northwind Midstream for $2.375B cash; expected Q3 2025 close, immediately accretive to DCF.
Q2 distribution $0.9565/unit (up 12.5% YoY), coverage 1.5x; leverage ratio 3.1x.
New $1.0B unit repurchase authorization incremental to remaining $320M; $100M repurchased in Q2.

item 2.02item 9.01

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