In its upcoming report, MPLX LP (MPLX) is predicted by Wall Street analysts to post quarterly earnings of $1.07 per share, reflecting an increase of 5.9% compared to the same period last year. Revenues are forecasted to be $3.28 billion, representing a year-over-year increase of 10.3%.
The consensus EPS estimate for the quarter has been revised 3% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some MPLX LP metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Pipeline throughput - Crude oil pipelines' of 3,953.50 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 3,895.00 thousands of barrels of oil per day.
Based on the collective assessment of analysts, 'Natural Gas Processed - Southwest Operations' should arrive at . Compared to the current estimate, the company reported in the same quarter of the previous year.
Analysts' assessment points toward 'Pipeline throughput - Total pipelines' reaching 6,027.00 thousands of barrels of oil per day. Compared to the current estimate, the company reported 5,951.00 thousands of barrels of oil per day in the same quarter of the previous year.
It is projected by analysts that the 'Gathering throughput - Southwest Operations' will reach . The estimate is in contrast to the year-ago figure of .
The consensus among analysts is that 'Pipeline throughput - Product pipelines' will reach 2,073.50 thousands of barrels of oil per day. Compared to the present estimate, the company reported 2,056.00 thousands of barrels of oil per day in the same quarter last year.
The combined assessment of analysts suggests that 'Adjusted EBITDA- Natural Gas and NGL Services' will likely reach $609.77 million. The estimate is in contrast to the year-ago figure of $557.00 million.
The average prediction of analysts places 'Adjusted EBITDA- Crude Oil and Products Logistics' at $1.13 billion. The estimate compares to the year-ago value of $1.16 billion.
View all Key Company Metrics for MPLX LP here>>>
MPLX LP shares have witnessed a change of +1.2% in the past month, in contrast to the Zacks S&P 500 composite's +3.6% move. With a Zacks Rank #4 (Sell), MPLX is expected underperform the overall market performance in the near term. 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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