MPLX LP (NYSE:MPLX) delivered a profit and met 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 0.41%.
MPLX LP Earnings Cheat Sheet
Revenue: Rose 12.34% to $114.7 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 met the mean analyst estimate of $0.26. It missed the average revenue estimate of $124.02 million.
Quoting Management: “MPLX is executing on its commitment to increase unitholder value,” said MPLX Chairman and Chief Executive Officer Gary R. Heminger. “We are pleased to increase our distribution so soon after MPLX`s formation and initial public offering. We believe our May 1 acquisition positions us to support distribution growth in the near term, and is consistent with our intent to provide an attractive growth profile over the long term.”
Key Stats (on next page)…
Revenue decreased 10.6% from $128.3 million in the previous quarter. EPS increased 44.44% from $0.18 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.26 to a profit $0.27. For the current year, the average estimate has moved up from a profit of $1.17 to a profit of $1.21 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)