MPLX Q1 Revenue at $3.04B, Below Consensus
Reports Q1 revenue $3.04B, consensus $3.09B. "We are executing our growth projects anchored in the Permian and Marcellus basins, as we expand the Delaware Basin Sour Gas treating plant to over 400 million cubic feet per day of treating capacity by year end and bring Harmon Creek III into service in the third quarter," said Maryann Mannen, MPLX chairman, president and chief executive officer. "Cash flow from this growth will allow us to reinvest in the business, return capital to unitholders, and is expected to support 12.5% annual distribution growth for two more years."
