Wall Street analysts forecast that MPLX LP (MPLX) will report quarterly earnings of $1.05 per share in its upcoming release, pointing to a year-over-year increase of 1.9%. It is anticipated that revenues will amount to $3.19 billion, exhibiting an increase of 6.1% compared to the year-ago quarter.
The current level reflects a downward revision of 0.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some MPLX LP metrics that are commonly tracked and projected by analysts on Wall Street.
It is projected by analysts that the 'Pipeline throughput - Crude oil pipelines' will reach 3,827.44 thousands of barrels of oil per day. The estimate compares to the year-ago value of 4,012.00 thousands of barrels of oil per day.
Analysts' assessment points toward 'Natural Gas Processed - Southwest Operations' reaching . The estimate compares to the year-ago value of .
The combined assessment of analysts suggests that 'Pipeline throughput - Total pipelines' will likely reach 5,897.59 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 6,103.00 thousands of barrels of oil per day.
Analysts forecast 'Gathering throughput - Southwest Operations' to reach . Compared to the current estimate, the company reported in the same quarter of the previous year.
The consensus among analysts is that 'Pipeline throughput - Product pipelines' will reach 2,070.15 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 2,091.00 thousands of barrels of oil per day.
Based on the collective assessment of analysts, 'Adjusted EBITDA- Natural Gas and NGL Services' should arrive at $593.21 million. The estimate is in contrast to the year-ago figure of $552.00 million.
Analysts expect 'Adjusted EBITDA- Crude Oil and Products Logistics' to come in at $1.16 billion. Compared to the current estimate, the company reported $1.14 billion in the same quarter of the previous year.
View all Key Company Metrics for MPLX LP here>>>Over the past month, shares of MPLX LP have returned +3.3% versus the Zacks S&P 500 composite's -1.5% change. Currently, MPLX carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).