MPLX LP reported a 5.3% increase in third-quarter adjusted EBITDA as net income fell year over year, with a large investment gain in the comparison period explaining much of the profit decline.
Net income attributable to MPLX LP was $1.164 billion for the three months ended Sept. 30, compared with $1.545 billion in the 2025 quarter. That earlier period included a $484 million gain on equity method investments, which did not recur in 2026. An SEC index records the earnings release as an exhibit to a Tuesday, Nov. 3, filing.
Adjusted EBITDA attributable to MPLX LP rose 5.3% to $1.859 billion. The Crude Oil and Products Logistics and Natural Gas and NGL Services segments both posted higher adjusted EBITDA. MPLX linked the logistics segment’s increase chiefly to higher rates and butane blending, while it cited increased volumes, including acquisitions, for the natural gas segment.
Cash provided by operating activities rose to $1.477 billion from $1.431 billion a year earlier. The cash-flow gain accompanied higher adjusted EBITDA, even as reported net income declined after the prior-year investment gain dropped out of the comparison.
The board of directors of MPLX’s general partner declared a quarterly distribution of $1.2111 per common unit on Tuesday, Oct. 27, up 12.5% from the preceding quarter. MPLX said the increase marked the third consecutive year it had raised the distribution by 12.5%. Unitholders of record Friday, Nov. 6, are scheduled to receive payment Nov. 13.
