MPLX Earnings: Here’s Why the Stock is Falling Now

MPLX LP (NYSE:MPLX) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.31%.

MPLX LP Earnings Cheat Sheet

Results:

Revenue: Rose 10.69% to $122.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: MPLX LP reported adjusted EPS income of $0.26 per share. By that measure, the company missed the mean analyst estimate of $0.28. It missed the average revenue estimate of $124.19 million.

Quoting Management: “MPLX`s strategically located assets, and the talented workforce operating them, continue to deliver excellent performance for our unitholders,” said Gary R. Heminger, chairman and chief executive officer. “Consistent with our commitment to provide unitholders with an attractive long-term distribution growth profile, the board of directors has increased our distribution again this quarter, reflecting our confidence in MPLX`s outlook. This increase in the distribution is consistent with our intent to maintain a distribution growth rate of 15 to 20 percent for at least the next several years.”

Key Stats (on next page)…

Revenue increased 6.54% from $114.7 million in the previous quarter. EPS increased 0% from $0.26 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.35 to a profit $0.29. For the current year, the average estimate has moved down from a profit of $1.22 to a profit of $1.17 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)