MPLX LP公司概况 - MPLX LP董事会宣布2023年第四季度每股普通单位现金分配为0.85美元，年化为3.40美元[1] - MPLX LP是一家多元化的大型主要有限合伙企业，拥有和经营中游能源基础设施和物流资产，提供燃料分销服务[2] - MPLX LP的资产包括原油和精炼产品管道网络、内陆水运业务、轻质产品终端、储存洞穴、炼油罐、码头、装载架和相关管道，以及原油和轻质产品海上终端[2]

SOPA Images/LightRocket via Getty Images MPLX (NYSE:MPLX) is one of the few midstream operators with the unique known buyer of throughput with parent Marathon Petroleum Corp. (MPC) purchasing 82% of crude throughput and 95% of refined products transported from well to refinery. With strong production in the Permian Basin and stable maintenance production in the Appalachia region, MPLX has remained in a strong position for both stability and growth for both in-basin midstream services and transportation. I b ...

Vivek Vishwakarma Trying to beat the market all the time is a hard feat to accomplish and is something that I'm simply not interested in doing. For one thing, that would involve having to constantly trade in an out of stocks in an effort to capture value. Plus, there are also short- and long-term tax implications from harvesting gains that can eat into long- term returns. A better strategy may be to buy quality dividend payers and hold them tight for the income stream, which can produce respectable total re ...

公司背景 - MPLX LP是一家总部位于俄亥俄州的大型主要在美国运营的中游能源基础设施和物流资产的有限合伙企业[1] - MPLX LP的主要业务包括物流和储存以及采集和加工两个部分，涉及天然气的采集、加工和运输，天然气液体的采集、运输、分馏、交换、储存和营销，以及原油和精炼石油产品的运输、储存、分销和营销[2] 财务表现 - 在2023年第三季度，MPLX LP的Gathering & Processing和Logistics & Storage两个主要部门的调整后EBITDA分别为5.05亿美元和10.9亿美元[4] - G&P部门的调整后EBITDA基本持平，而L&S部门的调整后EBITDA增长了12.6%[4]

人事变动 - MPLX LP的董事长、总裁兼首席执行官Michael J. Hennigan宣布C. Kristopher Hagedorn将于2024年1月1日起担任MPLX的执行副总裁兼首席财务官[1] - Hagedorn在MPC担任高级副总裁和控制人，之前在MPLX担任副总裁和控制人，还曾在CONSOL Energy和PwC担任不同职务[2] - Hagedorn将向Hennigan汇报工作，并担任MPLX的董事会成员[3]

Third Quarter 2023 Earnings Conference Call October 31, 2023 Forward‐Looking Statements This presentation contains forward-looking statements regarding MPLX LP (MPLX). These forward-looking statements may relate to, among other things, MPLX’s expectations, estimates and projections concerning its business and operations, financial priorities, including with respect to positive free cash flow and distribution coverage, strategic plans, capital return plans, capital expenditure plans, operating cost reduction ...

财务数据和关键指标变化 - 第三季度调整后EBITDA为16亿美元,创历史新高,同比增长8.5% [8] - 第三季度可分配现金流为14亿美元,创历史新高,同比增长8.6% [29] 各条业务线数据和关键指标变化 - 物流与储存(L&S)业务第三季度调整后EBITDA为10亿美元,连续第三个季度达到该水平,同比增长12.2% [22] - 集输与加工(G&P)业务第三季度调整后EBITDA为6.3亿美元,同比增长0.5% [26] 各个市场数据和关键指标变化 - 页岩气产区马塞勒斯盆地的采集量和处理量同比分别增长4%和5% [28] - 页岩油产区白俄罗斯盆地的采集量和处理量同比分别增长3%和5% [27] 公司战略和发展方向及行业竞争 - 公司将继续专注于严格的资本纪律、培养低成本文化和优化资产组合,这些都是MPLX现金流持续增长的基础 [13] - 公司正在马塞勒斯和白俄罗斯盆地投资建设新的天然气处理厂,以满足生产商的需求 [19][20][21] - 公司正在白俄罗斯盆地和Permian盆地投资建设新的天然气液体管道项目,以增加NGL运输能力 [16][17][18] 管理层对经营环境和未来前景的评论 - 公司长期生产前景在主要盆地保持基本不变,马塞勒斯盆地的开发成本处于行业低端,白俄罗斯盆地原油价格保持强劲 [10] - 公司有信心能够持续增长现金流,并将分红作为主要的资本回报工具,同时辅以适度的股票回购 [11][29][30] 问答环节重要的提问和回答 问题1 **John Mackay提问** 对于最近宣布的10%的分红增幅,公司是如何考虑的?未来分红增长的节奏如何? [38][39][40][41][42][43][44] **John Quaid和Michael Hennigan回答** 公司有较强的财务灵活性,10%的增幅是基于对未来现金流持续增长的信心。公司将分红作为主要的资本回报工具,同时保留适度的股票回购能力。公司的目标是为投资者提供合理的总回报,即分红收益加上中单位数的现金流增长。 [39][40][41][42][43][44] 问题2 **Theresa Chen提问** 公司近10亿美元的现金余额是如何考虑的?未来现金的最佳用途是什么? [63][64][65][66][67] **John Quaid和Michael Hennigan回答** 公司没有设定特定的现金目标水平,而是根据投资和资本回报的需求来灵活调配。目前现金余额一部分用于股票回购,另一部分作为长期财务灵活性储备。公司将根据市场情况适时部署这些现金资源。 [64][65][66][67]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ FORM 10-Q ____________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35714 ___________________________ ...

MPLX LP (NYSE:MPLX) Q2 2023 Earnings Conference Call August 1, 2023 9:30 AM ET Company Participants Kristina Kazarian - VP, Finance & IR Michael Hennigan - Chairman, President & CEO John Quaid - EVP, CFO & Director Shawn Lyon - SVP, Logistics & Storage David Heppner - Senior Vice President of MPLX GP LLC Conference Call Participants Brian Reynolds - UBS Keith Stanley - Wolfe Research Jeremy Tonet - JPMorgan Theresa Chen - Barclays Neal Dingmann - Truist Operator Welcome to the MPLX Second Quarter 2023 Earni ...

Second Quarter 2023 Earnings Conference Call August 1, 2023 Forward‐Looking Statements This presentation contains forward-looking statements regarding MPLX LP (MPLX). These forward-looking statements may relate to, among other things, MPLX’s expectations, estimates and projections concerning its business and operations, financial priorities, including with respect to positive free cash flow and distribution coverage, strategic plans, capital return plans, capital expenditure plans, operating cost reduction ...