Mplx reports qtrly non-cash impairment charges of $3.4 billion

Mplx lp reports first-quarter 2020 financial results.mplx lp - qtrly non-cash impairment charges of $3.4 billion.mplx lp - announced business response to covid-19 , including reductions of over $700 million of capital and approximately $200 million of operating expense.mplx lp - qtrly reported net loss attributable to mplx of $2.7 billion.mplx lp - maintained quarterly distribution of $0.6875 per common unit.mplx lp - mplx 2020 capital spending target reduced by over $700 million to approximately $1.0 billion..mplx lp - 2020 growth capital spending target reduced by over $600 million to approximately $900 million.mplx lp - original bangl project scope is no longer being pursued given current down cycle.mplx lp - working to optimize existing pipeline capacity while continuing to meet producers' needs for flow assurance and future growth.mplx lp - net maintenance capital spending target reduced by $100 million to approximately $150 million in 2020.mplx lp - expects to reduce forecasted annual operating expenses by approximately $200 million.mplx lp - maintaining its goal to achieve positive free cash flow, after capital investments and distributions, in 2021..mplx lp - qtrly total revenues and other income $992 million versus $2.24 billion.mplx lp - qtrly loss per share $2.60.
MPC Ratings Summary
MPC Quant Ranking