MPLX Q2 net income $1.08B, adj EBITDA $1.78B; raises 2026 capex outlook by $500M

MPLX LP

Net income attributable to MPLX of $1,077M, up from $1,048M YoY; adjusted EBITDA $1,775M vs $1,690M.
Distribution raised 12.5% to $1.0765/unit; distribution coverage 1.3x; leverage 3.7x.
Natural Gas & NGL segment adj EBITDA up 11% to $614M; Crude Oil & Products up 2% to $1,161M.
2026 growth capex outlook increased by $500M to $2.9B, driven by Gulf Coast fractionation project.
Repurchased $50M of common units in Q2; $1.0B remaining under buyback authorization.

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