MARA (NasdaqCM:MARA) Q4 2025 Earnings call February 26, 2026 05:00 PM ET Speaker4Greetings, welcome to the MARA Q4 2025 earnings call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star 0 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Robert Samuels, VP Investor Relations. Tha ...

MPLX LP files 2025 Form 10-K [Accessibility Statement] Skip NavigationFINDLAY, Ohio, Feb. 26, 2026 /PRNewswire/ -- MPLX LP (NYSE: MPLX) today filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the year ended Dec. 31, 2025. The filing can be viewed through a link on MPLX's website at [www.mplx.com] by selecting the "SEC Filings" link under the "Investors" tab.Upon written request, unitholders may receive, free of charge, a hard copy of MPLX's Annual Report on Form 10-K ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to __________________ Commission file number 001-35714 MPLX LP (Exact name of registrant as specified in its charter) (State ...

MPLX has plenty of fuel to continue growing its high-yielding distribution.MPLX (MPLX +1.59%) has been an exceptional income investment over the years. The master limited partnership (MLP) has increased its distribution every year since its formation in 2012. The energy midstream giant currently offers a 7.4% yield, which is several times above the S&P 500's 1.1% dividend yield. The energy company has a strong financial profile and lots of growth coming down the pipeline. As a result, you can buy the MLP (w ...

Core Viewpoint - The focus is on generating a 7%+ income yield through investments in energy stocks while minimizing principal loss risk [1]. Group 1: Investment Strategy - The investment strategy involves a portfolio of energy stocks, including both traditional and renewable energy sectors, targeting international companies with competitive advantages and strong dividend yields [1]. - The leader of the investing group, Energy Profits in Dividends, emphasizes income generation through energy stocks and closed-end funds (CEFs), while also managing risk through options [1]. Group 2: Research and Insights - Subscribers gain access to exclusive investment ideas and in-depth research that is not available to the general public, enhancing their investment decision-making [1]. - The service has been operational since 2010, providing both micro and macro-analysis of domestic and international energy companies [1].

Core Viewpoint - The Alerian MLP ETF (AMLP) offers a 7.9% yield through investments in energy infrastructure, but there are concerns regarding the sustainability of its distributions due to coverage gaps in some of its key holdings [1]. Group 1: Fund Overview - AMLP yields 7.9% from energy infrastructure investments, with the top six holdings accounting for 77% of its assets [1]. - The fund has increased distributions significantly due to rising natural gas demand and higher utilization rates of pipeline operators post-pandemic [1]. Group 2: Income Generation - AMLP invests in master limited partnerships (MLPs) that own pipelines, storage facilities, and processing plants, generating predictable cash flows to support quarterly distributions [1]. - The fund has a 0.85% expense ratio, which is deducted from the distributions passed to shareholders [1]. Group 3: Distribution Safety - The top three MLPs—Energy Transfer, Enterprise Products Partners, and MPLX—account for 38% of the portfolio, making their distribution sustainability critical [1]. - Energy Transfer has strong coverage with $11.5 billion in operating cash flow supporting its $1.32 annual distribution, while MPLX generates $5.9 billion in operating cash flow against a $3.6 billion distribution requirement [1]. - Enterprise Products Partners has a concerning coverage gap, distributing $4.5 billion while generating only $3.6 billion in free cash flow, indicating potential future distribution pressures [1]. Group 4: Total Return Considerations - AMLP has shown strong total returns as energy infrastructure rebounded from underinvestment, reflecting stable cash flows despite commodity price volatility [1]. - The current rally may limit upside potential for new investors at existing levels [1]. Group 5: Conclusion - AMLP's 7.9% yield presents both opportunities and risks, with steady distribution growth from 2021 to 2025, but concerns over Enterprise Products Partners' coverage gap could impact overall income stability [1].

Core Insights - The article emphasizes the importance of steady, growing passive income as a means to achieve and maintain financial freedom, defined as the point where passive income surpasses expenses [1] Group 1 - The lead analyst for Dividend Kings, Scott Kaufman, has over a decade of experience in the financial sector and focuses on high-quality dividend growth and undervalued investment opportunities [1] - The goal is to achieve a robust total return through cash dividends and strong capital gains [1] Group 2 - The article includes a disclosure indicating that the analyst has a beneficial long position in shares of MPLX, ENB, and OKE, either through stock ownership, options, or other derivatives [2] - The article is authored by the analyst without external compensation, and there is no business relationship with the companies mentioned [2]

Group 1 - Demand for electricity, which relies heavily on natural gas, is projected to reach record highs by 2026, highlighting the importance of the midstream sector [1] - The midstream sector is characterized by a large number of assets, indicating potential investment opportunities [1] Group 2 - The article emphasizes the need for a balanced portfolio of U.S. securities, suggesting a focus on macro-economic analysis combined with real-world trading experience [1]

Core Insights - MPLX LP has been a favorable investment due to its generous distribution yield and share price appreciation since 2024 [1] - The investor's background in IT has provided a unique perspective on navigating the complexities of technology stocks while also exploring diverse sectors for investment opportunities [1] Company Performance - MPLX has delivered strong performance, contributing to investor satisfaction through both yield and capital appreciation [1] Investment Philosophy - The approach emphasizes fundamental analysis and a deep understanding of risk and reward, aiming to foster accessibility for investors of all experience levels [1] - The goal is to share insights and contribute to the investor community through clear and precise analysis [1]

Core Insights - MPLX LP reported fourth-quarter 2025 earnings of $1.17 per unit, exceeding the Zacks Consensus Estimate of $1.08 and increasing from $1.07 in the same quarter last year [2] - Total quarterly revenues were $3.25 billion, falling short of the Zacks Consensus Estimate of $3.32 billion but rising from $3.06 billion year-over-year [2] - The strong earnings were driven by increased throughput in oil and product pipelines, as well as natural gas and NGL gathering [2] Segmental Highlights - Adjusted EBITDA from the Crude Oil and Products Logistics segment rose nearly 5% to $1.18 billion from $1.12 billion a year ago, supported by a $37 million benefit from a FERC tariff ruling and higher rates, despite increased operating expenses [3] - Pipeline throughputs averaged 5.91 million barrels per day (mbpd), a 1% increase from 5.86 mbpd in the prior-year quarter, while terminal throughputs decreased by 2% to 3.08 mbpd from 3.13 mbpd [3] - Adjusted EBITDA from the Natural Gas and NGL Services segment was $629 million, down almost 2% from $639 million in the year-ago quarter, primarily due to divestitures and lower natural gas liquids prices, partially offset by contributions from acquired assets and increased volumes [4] Costs & Expenses - Total costs and expenses increased to $1.77 billion from $1.72 billion a year ago, mainly due to higher operating expenses, including purchased product costs [6] Cash Flow - Distributable cash flow for the quarter was $1.42 billion, providing 1.3X distribution coverage, down from $1.48 billion in the year-ago quarter [7] - Adjusted free cash flow improved to $1.57 billion from $1.32 billion in the corresponding period of 2024 [7] Balance Sheet - As of December 31, 2025, MPLX had cash and cash equivalents of $2.14 billion and total debt of $25.65 billion [8] Future Outlook - MPLX expects to maintain mid-single-digit adjusted EBITDA growth while continuing investments in its Permian and Marcellus basin operations, with a capital spending plan of $2.7 billion for 2026 [11] - This plan includes $2.4 billion for growth investments and $300 million for maintenance activities, with new investments expected to be operational by the second half of 2028 [11]