Filing Flows › Mplx LP (MPLX) › Q3 2026
Mplx LP (MPLX) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 3, 2026
Mplx LP (MPLX) reported revenue of $3.6B for the third quarter 2026 (Q3 2026), -0.4% from a year earlier and +9% from the quarter before. Operating margin was 40.9%, net earnings $1.2B (32.3% of revenue).
Mplx LP, Q3 2026: revenue $3.6B (-0.4% year over year), operating margin 40.9%, net earnings $1.2B, operating cash flow $1.5B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.6B | +9% | -0.4% |
| Operating profit | $1.5B | +7% | -18% |
| Net earnings | $1.2B | +8% | -25% |
| Operating cash flow | $1.5B | -13% | +3% |
| Free cash flow | $447M | — | — |
What changed
Revenue was $3.6B in Q3 2026, roughly flat year over year and up 9% from the previous quarter. Natural Gas and NGL Services was the largest line at 42% of revenue.
Operating profit was $1.5B, a 40.9% margin (down 8.8 points year over year). Total costs grew 17% against flat revenue. The fastest-growing cost line was Other operating costs (+18%). Net earnings were $1.2B, down 25% year over year. The effective tax rate was 0.2%.
Operating cash flow was $1.5B (up 3% year over year), 126% of net earnings. Non-cash charges added back $0.34B of depreciation. After net cash used in investing activities, net ($1.0B) and distributions to noncontrolling interests ($0.01B), adjusted free cash flow as the company reports it was $0.45B.
Questions
What was Mplx LP's revenue in the third quarter 2026?
Mplx LP (MPLX) reported revenue of $3.6B for the third quarter 2026 (Q3 2026), -0.4% from a year earlier and +9% from the quarter before.
Was Mplx LP profitable in the third quarter 2026?
Operating profit was $1.5B (40.9% of revenue) and net earnings $1.2B.
Source: Mplx LP 10-Q on SEC EDGAR.