Compared to Estimates, MPLX LP (MPLX) Q3 Earnings: A Look at Key Metrics
MPLX LP (MPLX) reported $2.91 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 14.4%. EPS of $0.89 for the same period compares to $0.96 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.66 billion, representing a surprise of +9.28%. The company delivered an EPS surprise of -2.20%, with the consensus EPS estimate being $0.91.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how MPLX LP performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Pipeline throughput - Crude oil pipelines: 3911 millions of barrels of oil per day versus the three-analyst average estimate of 3653.76 millions of barrels of oil per day.
Average tariff rates - Product pipelines: $0.99 compared to the $0.84 average estimate based on two analysts.
Pipeline throughput - Product pipelines: 1975 millions of barrels of oil per day versus the two-analyst average estimate of 2200.24 millions of barrels of oil per day.
Natural gas processed - Southwest Operations: 1405 millions of cubic feet per day versus 1512.45 millions of cubic feet per day estimated by two analysts on average.
Revenues and other income- Income from equity method investments: $159 million compared to the $128.03 million average estimate based on three analysts. The reported number represents a change of +27.2% year over year.
Revenues and other income- L&S: $1.59 billion versus the three-analyst average estimate of $1.48 billion. The reported number represents a year-over-year change of +9.7%.
Revenues and Other Income- L&S- Service revenue: $1.13 billion compared to the $1.02 billion average estimate based on two analysts.
Revenues and Other Income- L&S- Rental income: $216 million versus the two-analyst average estimate of $206.71 million.
Revenues and Other Income- L&S- Product related revenue: $6 million compared to the $4.02 million average estimate based on two analysts.
Revenues and Other Income- G&P- Service revenue: $549 million versus $538.49 million estimated by two analysts on average.
Revenues and Other Income- G&P- Rental income: $52 million compared to the $48.51 million average estimate based on two analysts.
Revenues and Other Income- G&P- Product related revenue: $598 million compared to the $582.09 million average estimate based on two analysts.
View all Key Company Metrics for MPLX LP here>>>
Shares of MPLX LP have returned +3.1% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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