Filing Flows › Mplx LP (MPLX) › Q2 2025
Mplx LP (MPLX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Mplx LP (MPLX) reported revenue of $3.0B for the second quarter 2025 (Q2 2025), -2% from a year earlier and -4% from the quarter before. Operating margin was 43.1%, net earnings $1.0B (34.9% of revenue).
Mplx LP, Q2 2025: revenue $3.0B (-2% year over year), operating margin 43.1%, net earnings $1.0B, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | -4% | -2% |
| Operating profit | $1.3B | -5% | -9% |
| Net earnings | $1.0B | -7% | -10% |
| Operating cash flow | $1.7B | +39% | +11% |
| Free cash flow | $1.1B | — | -22% |
What changed
Revenue was $3.0B in Q2 2025, down 2% year over year and down 4% from the previous quarter. Crude Oil and Products Logistics was the largest line at 40% of revenue.
Operating profit was $1.3B, a 43.1% margin (down 3.4 points year over year). Total costs grew 5% against a revenue fall of 2%. Net earnings were $1.0B, down 10% year over year. The effective tax rate was 0.1%.
Operating cash flow was $1.7B (up 11% year over year), 164% of net earnings. Non-cash charges added back $0.29B of depreciation. Working capital and other items added $0.39B. After net cash used in investing activities, net ($0.59B) and distributions to noncontrolling interests ($0.01B), adjusted free cash flow as the company reports it was $1.1B.
Questions
What was Mplx LP's revenue in the second quarter 2025?
Mplx LP (MPLX) reported revenue of $3.0B for the second quarter 2025 (Q2 2025), -2% from a year earlier and -4% from the quarter before.
Was Mplx LP profitable in the second quarter 2025?
Operating profit was $1.3B (43.1% of revenue) and net earnings $1.0B.
Source: Mplx LP 10-Q on SEC EDGAR.