MPLX LP MPLX is set to report third-quarter 2024 results on Nov. 5, before the opening bell.

In the last reported quarter, the diversified, large-cap master limited partnership’s adjusted earnings of $1.15 per share beat the Zacks Consensus Estimate of 98 cents on the back of higher gathered and processed throughput volumes.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

The midstream player beat on earnings in two of the trailing four quarters and missed the same twice, delivering an average surprise of 7.48%. This is depicted in the graph below:

MPLX’s Estimate Trend

The Zacks Consensus Estimate for third-quarter earnings per share of $1.06 has witnessed no earnings estimate revisions in the past 30 days. The consensus estimate implies an improvement of 19.1% from the year-ago reported number.

The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $3.04 billion indicates a 4.4% increase from the year-ago reported figure.

Factors to Consider for MPLX

As a leading midstream infrastructure provider, the partnership is likely to have generated stable fee-based revenues in the September quarter. MPLX's midstream assets are used by shippers to transport crude oil and refined petroleum products for the long term, reflecting a stable business model. With the commodity pricing environment stable in the third quarter, pipeline throughput is likely to have been healthy in the quarter. The Zacks Consensus Estimate for the partnership’s total pipeline throughput is pegged at 6,023.93 thousand barrels per day (MBbl/D), suggesting an improvement from 5,886 MBbl/D in the prior-year reported quarter.

Earnings Whispers

Our proven model doesn’t predict an earnings beat for MPLX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.

Earnings ESP: MPLX has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The partnership currently carries a Zacks Rank #4 (Sell).

Stocks to Consider

Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.

Cheniere Energy, Inc. LNG currently has an Earnings ESP of +12.21% and a Zacks Rank #3.

Cheniere Energy is scheduled to release third-quarter earnings on Oct. 31. The Zacks Consensus Estimate for LNG’s earnings is pegged at $1.87 per share, suggesting a 21.1% decrease from the prior-year reported figure.

Exxon Mobil Corporation XOM currently has an Earnings ESP of +0.02% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

ExxonMobil is scheduled to release third-quarter earnings on Nov. 1. The Zacks Consensus Estimate for earnings is pegged at $1.95 per share, suggesting a decline of 14.1% from the prior-year reported figure.

Sunoco LP SUN presently has an Earnings ESP of +13.44% and a Zacks Rank #2.

Sunoco is scheduled to release third-quarter earnings on Nov. 6. The Zacks Consensus Estimate for earnings is pegged at $1.53 per share, suggesting a 48% decrease from the prior-year reported figure.

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Exxon Mobil Corporation (XOM) : Free Stock Analysis Report

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MPLX LP (MPLX) : Free Stock Analysis Report

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