secwatch.observer — SEC 8-K summary
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Issuer:     MPLX LP (MPLX)
CIK:        0001552000
Form:       8-K
Filed at:   2026-02-03T23:59:59+00:00
Accession:  0001552000-26-000004
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MPLX Q4 net income $1.2B, adj EBITDA $1.8B; distribution raised to $1.0765/unit
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- Q4 2025 net income attributable $1,193M vs $1,099M YoY; adjusted EBITDA $1,804M vs $1,762M.
- Full-year 2025 net income $4.9B, adjusted EBITDA $7.0B; growth investments $5.5B, returned $4.4B to unitholders.
- 2026 capex plan $2.7B ($2.4B growth, $300M maintenance); 90% of growth in Natural Gas & NGL Services.
- Q4 distribution $1.0765/unit (up from $0.9565), coverage 1.3x; leverage 3.7x at year-end.
- New investments: Secretariat II (300 MMcf/d Permian, H2 2028) and Marcellus Gathering expansion (H1 2028).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1552000/000155200026000004/0001552000-26-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1552000/000155200026000004/mplx-20260203.htm
  HTML page:      https://secwatch.observer/filing/0001552000-26-000004

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