MPLX Q3 EPS $0.89 Misses $0.93 Estimate, Sales $2.91B Beat $2.69B Estimate
Portfolio Pulse from Benzinga Newsdesk
MPLX reported Q3 earnings of $0.89 per share, missing the analyst consensus estimate of $0.93 by 4.3%. This is a 34.56% decrease from the same period last year. However, the company's quarterly sales of $2.91 billion beat the analyst consensus estimate of $2.69 billion by 8.25%, despite being a 14.38% decrease from the same period last year.
October 31, 2023 | 10:48 am
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MPLX's Q3 earnings missed estimates, but sales beat expectations. Earnings and sales both decreased compared to the same period last year.
MPLX's earnings miss could negatively impact the stock in the short term. However, the sales beat might mitigate some of this impact. The year-over-year decreases in both earnings and sales could also negatively affect investor sentiment.
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