MPLX LP Set for Q3 2024 Earnings Reveal
MPLX LP is scheduled to release its third-quarter 2024 results on November 5, before the market opens.
In the previous quarter, the large-cap master limited partnership reported adjusted earnings of $1.15 per share, surpassing the Zacks Consensus Estimate of 98 cents. This positive outcome was supported by increased throughput volumes in gathering and processing.
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Historically, MPLX has beaten earnings expectations in two out of its last four quarters, while also missing estimates twice. The average surprise in earnings stands at 7.48%, as illustrated in the graph below:
MPLX LP Price and EPS Surprise
MPLX LP price-eps-surprise | MPLX LP Quote
Analyzing MPLX’s Estimate Trends
Currently, the Zacks Consensus Estimate for MPLX’s third-quarter earnings per share stands at $1.06, with no revisions made in the past month. This estimate reflects a significant 19.1% improvement from the same quarter last year.
Moreover, the consensus estimate for the upcoming quarter’s revenues is set at $3.04 billion, indicating a 4.4% increase compared to the revenue reported the previous year.
Key Considerations for MPLX
As a major player in midstream infrastructure, MPLX likely experienced steady fee-based revenues in the September quarter. The partnership’s assets facilitate the long-term transportation of crude oil and refined products, demonstrating a resilient business model. Given the stable pricing environment, it is expected that pipeline throughput maintained strong performance. The projected total pipeline throughput for MPLX is estimated at 6,023.93 thousand barrels per day (MBbl/D), marking a rise from 5,886 MBbl/D reported a year ago.
Earnings Projections
Our established model does not suggest an earnings beat for MPLX this quarter. Typically, a positive Earnings ESP along with a Zacks Rank of #1 (Strong Buy), #2 (Buy), or #3 (Hold) points to a potential earnings beat; however, MPLX does not fit this criteria.
Earnings ESP: MPLX currently has an Earnings ESP of 0.00%. You can use our Earnings ESP Filter to identify stocks with higher earnings potential.
Zacks Rank: Presently, MPLX holds a Zacks Rank of #4 (Sell).
Stocks to Watch
Consider these alternative stocks, which exhibit favorable traits for potential earnings surprises this reporting season.
Cheniere Energy, Inc. (LNG) has an Earnings ESP of +12.21% and a Zacks Rank of #3. Scheduled to announce its third-quarter earnings on October 31, the consensus estimate for LNG’s earnings is $1.87 per share, indicating a 21.1% decline from last year.
Exxon Mobil Corporation (XOM) shows an Earnings ESP of +0.02% and a Zacks Rank of #3. ExxonMobil plans to release its third-quarter earnings on November 1 with a consensus earnings estimate of $1.95 per share, reflecting a 14.1% drop compared to the previous year.
Sunoco LP (SUN) features an Earnings ESP of +13.44% and a Zacks Rank of #2. Sunoco’s third-quarter earnings report is set for November 6, with projected earnings of $1.53 per share, representing a 48% decrease from last year.
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The views expressed here reflect the author’s opinions and do not necessarily represent those of Nasdaq, Inc.
