Wall Street analysts forecast that MPLX LP (MPLX) will report quarterly earnings of $1.08 per share in its upcoming release, pointing to a year-over-year increase of 0.9%. It is anticipated that revenues will amount to $3.32 billion, exhibiting an increase of 8.6% compared to the year-ago quarter.
The current level reflects a downward revision of 0.7% 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 use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer 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 3,849.00 thousands of barrels of oil per day. Compared to the current estimate, the company reported 3,831.00 thousands of barrels of oil per day in the same quarter of the previous year.
According to the collective judgment of analysts, 'Natural Gas Processed - Southwest Operations' should come in 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 5,889.50 thousands of barrels of oil per day. Compared to the present estimate, the company reported 5,857.00 thousands of barrels of oil per day in the same quarter last year.
The consensus estimate for 'Gathering throughput - Southwest Operations' stands at . The estimate compares to the year-ago value of .
The average prediction of analysts places 'Pipeline throughput - Product pipelines' at 2,040.50 thousands of barrels of oil per day. The estimate compares to the year-ago value of 2,026.00 thousands of barrels of oil per day.
The consensus among analysts is that 'Adjusted EBITDA- Natural Gas and NGL Services' will reach $645.78 million. The estimate is in contrast to the year-ago figure of $639.00 million.
Analysts forecast 'Adjusted EBITDA- Crude Oil and Products Logistics' to reach $1.14 billion. The estimate is in contrast to the year-ago figure of $1.12 billion.
View all Key Company Metrics for MPLX LP here>>>
MPLX LP shares have witnessed a change of +5.4% in the past month, in contrast to the Zacks S&P 500 composite's +0.9% move. With a Zacks Rank #3 (Hold), MPLX is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
MPLX LP (MPLX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
