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Red Flags Detected

  • Interest Expense Up 30% to $322m (worsened) — Higher debt from acquisitions drove interest expense up sharply, pressuring net income growth.
  • Long-term Debt Increased to $24.4b (worsened) — Debt rose $4.7B year-over-year, increasing leverage and interest burden.
NYSE: MPLX MPLX LP 10-Q

MPLX Q2 revenue +10.3% to $3.31B, net income +2.7% to $1.09B; debt jumps on acquisitions

Filed August 4, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 5, 2025 · ~1 min read

Key Changes

  • high

    Revenue rose 10.3% to $3.31B and net income rose 2.7% to $1.09B, but interest expense jumped 30% to $322M as debt climbed to $24.4B.

    MD&A / Notes view on EDGAR →
  • high

    Completed $2.4B Northwind Midstream acquisition and $703M BANGL buyout, adding Permian sour gas assets and full control of BANGL.

    Notes: Acquisitions verify on EDGAR →
  • high

    Sold Rockies gathering and processing operations for $980M, described as non-core.

    Notes: Divestiture verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Figures/quotes linked to EDGAR · Narrative written by AI · Sep 1, 2026 · How we verify