The upcoming report from MPLX LP (MPLX) is expected to reveal quarterly earnings of $1.06 per share, indicating an increase of 8.2% compared to the year-ago period. Analysts forecast revenues of $3.21 billion, representing an increase of 12.9% year over year.
The current level reflects a downward revision of 0.9% 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.
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 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 combined assessment of analysts suggests that 'Revenues and Other Income- L&S- Income from equity method investments' will likely reach $98.69 million. The estimate indicates a year-over-year change of +10.9%.
The consensus estimate for 'Revenues and other income- L&S' stands at $1.65 billion. The estimate indicates a change of +6% from the prior-year quarter.
Analysts forecast 'Pipeline throughput - Crude oil pipelines' to reach 3,698.43 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 3462 millions of barrels of oil per day.
According to the collective judgment of analysts, 'Natural Gas Processed - Southwest operations' should come in at 2,318.02 millions of cubic feet per day. The estimate is in contrast to the year-ago figure of 1629 millions of cubic feet per day.
Analysts' assessment points toward 'Gathering throughput - Southwest Operations' reaching 2,242.36 millions of cubic feet per day. Compared to the present estimate, the company reported 1601 millions of cubic feet per day in the same quarter last year.
It is projected by analysts that the 'Pipeline throughput - Total pipelines' will reach 5,599.47 millions of barrels of oil per day. Compared to the present estimate, the company reported 5293 millions of barrels of oil per day in the same quarter last year.
Analysts expect 'Adjusted EBITDA- Gathering and Processing' to come in at $642.66 million. Compared to the current estimate, the company reported $537 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Adjusted EBITDA- Logistics and Storage' of $1.12 billion. The estimate compares to the year-ago value of $1.10 billion.
View all Key Company Metrics for MPLX LP here>>>
Over the past month, MPLX LP shares have recorded returns of -2.5% versus the Zacks S&P 500 composite's -0.5% change. Based on its Zacks Rank #3 (Hold), MPLX will likely exhibit a performance that aligns with the overall market in the upcoming period. 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
