The upcoming report from MPLX LP (MPLX) is expected to reveal quarterly earnings of $1.07 per share, indicating a decline of 7% compared to the year-ago period. Analysts forecast revenues of $3.24 billion, representing an increase of 6.2% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.4% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain MPLX LP metrics that are commonly tracked and forecasted by Wall Street analysts.
Based on the collective assessment of analysts, 'Pipeline throughput - Crude oil pipelines' should arrive at 3,810.91 thousands of barrels of oil per day. Compared to the present estimate, the company reported 3,950.00 thousands of barrels of oil per day in the same quarter last year.
The collective assessment of analysts points to an estimated 'Natural Gas Processed - Southwest Operations' of . The estimate is in contrast to the year-ago figure of .
It is projected by analysts that the 'Gathering throughput - Southwest Operations' will reach . Compared to the present estimate, the company reported in the same quarter last year.
The consensus estimate for 'Pipeline throughput - Total pipelines' stands at 5,715.73 thousands of barrels of oil per day. The estimate compares to the year-ago value of 6,024.00 thousands of barrels of oil per day.
Analysts expect 'Adjusted EBITDA- Natural Gas and NGL Services' to come in at $616.54 million. Compared to the current estimate, the company reported $524.00 million in the same quarter of the previous year.
The consensus among analysts is that 'Adjusted EBITDA- Crude Oil and Products Logistics' will reach $1.08 billion. Compared to the current estimate, the company reported $1.13 billion in the same quarter of the previous year.
View all Key Company Metrics for MPLX LP here>>>
Shares of MPLX LP have demonstrated returns of +1.6% over the past month compared to the Zacks S&P 500 composite's +0.6% change. With a Zacks Rank #3 (Hold), MPLX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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MPLX LP (MPLX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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