Filing Flows › Mplx LP (MPLX) › Q2 2026 › vs Q1 2026
Mplx LP (MPLX) Q2 2026 vs Q1 2026 (quarter over quarter)
Mplx LP's revenue rose $274M (+9%) from $3.0B in Q1 2026 to $3.3B in Q2 2026. The biggest changes: Natural Gas and NGL Services +$206M (+18%); Crude Oil and Products Logistics +$60.0M (+5%); Other revenues +$8.0M (+1%). Operating margin 41.6% against 40.0% (+1.6 pts).
Mplx LP, Q2 2026: revenue $3.3B (+10% year over year), operating margin 41.6%, net earnings $1.1B, operating cash flow $1.7B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 41.6% | 40.0% | +1.6 pts |
| Net margin | 32.5% | 30.0% | +2.5 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Natural Gas and NGL Services | $1.4B | $1.2B | $206M | +18% |
| Crude Oil and Products Logistics | $1.2B | $1.2B | $60.0M | +5% |
| Other revenues | $697M | $689M | $8.0M | +1% |
| Revenue | $3.3B | $3.0B | $274M | +9% |
| Operating profit | $1.4B | $1.2B | $164M | +14% |
| Costs & expenses | $1.9B | $1.8B | $110M | +6% |
| Pre-tax earnings | $1.1B | $923M | $166M | +18% |
| Other expense, net | $289M | $291M | −$2.0M | -0.7% |
| General & admin | $108M | $114M | −$6.0M | -5% |
| Other operating costs | $1.8B | $1.7B | $116M | +7% |
| Net earnings | $1.1B | $911M | $166M | +18% |
| Minority interests | $10.0M | $11.0M | −$1.0M | -9% |
| Income tax | $2.0M | $1.0M | $1.0M | +100% |
| Depreciation | $320M | $315M | $5.0M | +2% |
| Working capital & other | $305M | $121M | $184M | +152% |
| Operating cash flow | $1.7B | $1.3B | $355M | +26% |
Questions
How much did Mplx LP's revenue grow quarter over quarter in Q2 2026?
Mplx LP's revenue rose $274M (+9%) from $3.0B in Q1 2026 to $3.3B in Q2 2026.
What drove Mplx LP's revenue change in Q2 2026?
Natural Gas and NGL Services +$206M (+18%); Crude Oil and Products Logistics +$60.0M (+5%); Other revenues +$8.0M (+1%).