| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | August 4, 2026 | 8/12 | 1 high, 3 medium, 2 low flags | 2 | 0 | Call sheet → |
| Q1'26 | May 5, 2026 | 10/12 | 2 high, 3 medium, 2 low flags | 1 | 0 | Call sheet → |
| Q4'25 | February 3, 2026 | 11/12 | 2 medium, 4 low flags | 6 | 0 | Call sheet → |
| Q3'25 | November 4, 2025 | 11/12 | 6 low flags | 3 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | MPLX expects to deliver 12.5% distribution growth for the next two years Multi-year target (2026 and 2027), deadline not yet reached; reaffirmed this quarter at the same percentage. |
| Q2'26 | Pending | Full-year refining turnaround cost outlook unchanged at $1,350,000,000 Not restated or updated on the Q2 call; actual full-year run rate not stated on the call. |
| Q2'26 | Pending | Titan sour gas treating expansion expected to exit 2026 with more than 400 MMcf/d of treating capacity Deadline is year-end 2026 and has not passed; target reaffirmed this quarter at the same level. |
| Q2'26 | Delivered | Diamond Creek III remains on track for Q3 startup, bringing Northeast processing capacity to 8.1 Bcf/d This quarter's Q2 call references 'Harmon Creek III' beginning operations 'this week' with the identical 8.1 Bcf/d system-wide capacity figure; naming discrepancy between quarters should be verified against MPLX filings before treating as confirmed resolution. |
| Q2'26 | Exceeded | Robinson Jet flexibility investment expected to come online in the third quarter, enabling ~10,000 bpd of incremental jet production Completed and contributing in Q2, ahead of the originally guided Q3 timeline. |
| Q1'26 | Pending | Full year 2026 turnaround expenses of $1.35 billion Spent $530M in Q1 (40% of annual), guidance unchanged |
| Q1'26 | Delivered | Return excess free cash flow after business needs to shareholders Returned over $1B in Q1, announced additional $5B buyback authorization |
| Q1'26 | Pending | MPLX distribution growth rate of 12.5% over next two years Reconfirmed the target, translating to >$3.5B annually to MPC |
| Q1'26 | Pending | Target returns of 25% or above on refining investments Reiterated the hurdle rate, mentioned specifically for Garyville projects |
| Q1'26 | Pending | Continued reduction in turnarounds in 2027 and 2028 Mentioned again this quarter, maintaining the commitment |
| Q1'26 | Pending | Capital spending reduction of nearly 20% in 2026 Guided to $700M refining CapEx, down from ~$875M in 2025 - on track |
| Q4'25 | Delivered | Lead in capital returns through share buybacks $4.5B returned in 2025, 6.5% share count reduction |
| Q4'25 | Exceeded | Continued capture improvements over multi-year period 105% full year 2025 vs 95% in 2024, 114% in Q4 |
| Q4'25 | Exceeded | Q4 utilization guidance of 90% Delivered 95% utilization vs 90% guided |
| Q4'25 | Delivered | Los Angeles refinery infrastructure project completion in Q4 LAR project came online Q4 as promised, contributing to competitiveness |
| Q4'25 | Delivered | Galveston Bay resid hydrocracker expected at full capacity before end of month Contributed to Q4 optimization and strong Gulf Coast performance |
| Q4'25 | Delivered | Fourth quarter refining cracks have started out stronger than seasonal averages Q4 blended crack over $15/bbl, 50% higher YoY per Q3 call |
| Q3'25 | Delivered | MPLX mid-single-digit EBITDA growth strategy Maintained 5% YoY growth in Q3, reinforced with acquisition strategy |
| Q3'25 | Pending | Galveston Bay RHU restart in Q3 Delayed but expected at full capacity before end of November |
| Q3'25 | Pending | LAR project completion in Q4 2025 Reaffirmed completion before end of November |
| Q3'25 | Pending | Full year turnaround expense ~$1.4B guided in Q2 On track with Q4 guidance of $420M |
| Q3'25 | Delivered | Q3 turnaround expense ~$400M guided in Q2 Maintained guidance level with Mid-Con and West Coast activity |
| Q3'25 | Exceeded | Q3 utilization of 92% guided in Q2 call Delivered 95% utilization despite planned turnarounds |
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