Management remarks
Call period: 2026 Q2 · 2026-08-04
Guidance: Maryann Mannen: MPLX is increasing its 2026 capital spending outlook by $500 million to $2.9 billion.Demand and orders: Carl Hagedorn: Total fractionation volumes increased 8% year-over-year, primarily due to increased production in the Marcellus.Analyst Q&A
Analyst Burke Sansiviero asked: Are you still targeting at least 1.3x coverage with the 2026 and '27 distribution growth plans? Management Carl Hagedorn answered: What I would tell you is absolutely, we continue to target our 1.3 coverage ratio for both '26 and '27 and frankly, beyond. What I would tell you is that from a capital perspective, we believe that our current organic plan gives us confidence -- we have confidence in maintaining that 1.3 coverage. We've talked about it a few times now on this call. It's the second half growth that is going to give us confidence in 1.26. And then frankly, entering 2027, we're going to have the platform to grow even more.管理层陈述
电话会期间：2026 Q2 · 2026-08-04
指引：玛丽安·曼南：MPLX将其2026年资本支出预期上调5亿美元，至29亿美元。需求与订单：卡尔·哈格多恩：总分馏处理量同比增长8%，主要源于马塞勒斯盆地的产量增加。分析师问答
分析师伯克·桑西维耶罗问道：你们是否仍针对2026年和2027年的派息增长计划设定至少1.3倍的覆盖比率目标？管理层成员卡尔·哈格多恩回应称：我们绝对仍将2026年、2027年乃至更长期的覆盖比率目标定为1.3倍。从资本层面来看，我们当前的有机增长计划让我们有信心维持这一比率，我们已在本次电话会上多次提及这点。下半年的增长将助力我们对2026年的目标抱有信心，而进入2027年，我们将拥有进一步增长的平台。
