MPLX LP Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 01, 2023 at 06:45 am EDT
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MPLX LP reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 2,496 million compared to USD 2,796 million a year ago. Revenue was USD 2,690 million compared to USD 2,940 million a year ago. Net income was USD 933 million compared to USD 875 million a year ago. Basic earnings per share from continuing operations was USD 0.91 compared to USD 0.83 a year ago. Diluted earnings per share from continuing operations was USD 0.91 compared to USD 0.83 a year ago.
For the six months, sales was USD 5,045 million compared to USD 5,297 million a year ago. Revenue was USD 5,403 million compared to USD 5,550 million a year ago. Net income was USD 1,876 million compared to USD 1,700 million a year ago. Basic earnings per share from continuing operations was USD 1.81 compared to USD 1.61 a year ago. Diluted earnings per share from continuing operations was USD 1.81 compared to USD 1.61 a year ago.
MPLX LP is a diversified master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuel distribution services. The Companyâs segments include Logistics and Storage (L&S) and Gathering and Processing (G&P). The L&S segment primarily engages in the gathering, transportation, storage and distribution of crude oil, refined products, other hydrocarbon-based products, and renewables. The L&S segment also includes the operation of its refining logistics, fuel distribution and inland marine businesses, terminals, rail facilities and storage caverns. The G&P segment provides gathering, processing and transportation of natural gas, as well as the transportation, fractionation, storage and marketing of natural gas liquids (NGLs). Its assets include a network of crude oil and refined product pipelines; an inland marine business; light-product, asphalt, heavy oil and marine terminals; storage caverns, and others.
MPLX LP 
