# MPLX Net Income Falls in Q3 as Adjusted EBITDA Rises 5.3%

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/47720
Published: 2026-11-03T13:44:16.000Z
Updated: 2026-11-03T13:44:16.000Z
Section: Business

> The partnership generated $1.537 billion in distributable cash flow with 1.3x distribution coverage. Its $1.2111-per-unit payout is scheduled for Nov. 13.

MPLX LP's third-quarter net income fell to $1.164 billion from $1.545 billion a year earlier, while adjusted EBITDA rose 5.3% and the quarterly distribution increased for a third straight year.

For the three months ended Sept. 30, diluted net income per limited partner unit was $1.15, compared with $1.52 in the year-earlier quarter. The results combine lower net income and per-unit earnings with growth in adjusted EBITDA.

Total revenues and other income came to $3.605 billion, slightly below the $3.619 billion recorded a year earlier. Adjusted EBITDA attributable to MPLX, a non-GAAP measure, reached $1.859 billion, up from $1.766 billion in the third quarter of 2025.

The partnership generated $1.537 billion in distributable cash flow, and distribution coverage was 1.3x. The coverage ratio compares distributable cash flow with distributions for the period.

MPLX's third-quarter distribution is $1.2111 per common unit, or $4.84 annualized. That rate is 12.5% above the second-quarter payout of $1.0765. Payment is scheduled for Nov. 13 to unitholders of record Nov. 6.

Maryann Mannen, MPLX's chairman, president and chief executive officer, credited the partnership's cash flows with supporting the latest increase.

“The durability of our cash flows enabled us to increase our quarterly distribution by 12.5% for the third consecutive year,” Mannen said.

MPLX is a master limited partnership formed by Marathon Petroleum whose business includes midstream energy infrastructure and logistics assets. The partnership's results conference call is scheduled for 9:30 a.m. ET (14:30 UTC) Tuesday, Nov. 3.