MPLX’s Revenue By Segment (2016-2022)
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These chart shows MPLX’s Revenue By Segment, across Income from equity method investment, Product Sales, Rental income and Service revenue, reported on a quarterly basis.
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These chart shows MPLX’s Revenue By Segment, across Income from equity method investment, Product Sales, Rental income and Service revenue, reported on a quarterly basis.
MPLX’s Revenue by Segment
| Revenue by Segment | Q3 2020 | Q3 2021 | Q4 2021 | Contribution in Q4 2021 |
| Income from equity method investment | $83 | $92 | $76 | 3.32% |
| Product Sales | $165 | $448 | $182 | 7.96% |
| Product sales- related parties | $37 | $26 | $28 | 1.22% |
| Rental income | $102 | $88 | $102 | 4.46% |
| Rental income- related parties | $241 | $164 | $240 | 10.49% |
| Sales-type lease revenue-related parties | $0 | $132 | $0 | 0.00% |
| Service revenue | $604 | $600 | $618 | 27.02% |
| Service revenue-product related | $41 | $82 | $53 | 2.32% |
| Service revenue- related parties | $909 | $902 | $886 | 38.74% |
| Other income | $2 | $-2 | $0 | 0.00% |
| Other income- related parties | $63 | $27 | $102 | 4.46% |
| Total | $2,247 | $2,559 | 2,287 | 100.00% |
(All figures are in millions, except percentages)
MPLX’s total revenue increased from $2,247 million in Q3 2020 to $2,559 million in Q3 2021, marking a 13.8% growth on a year-on-year basis. It declined by 10.63% quarterly, from Q3 2021 to Q4 2021.
Income from equity method investment
This segment contributed 3.32% to the company’s total revenue in Q4 2021. Revenue from equity method investment has shown an increase of 10.84% yearly and a fall of 17.39% quarterly.
Product Sales
Product Sales has a contribution of 7.96% in the total revenue of the company. This segment witnessed an increase of 171.5% yearly and a fall of 59.37% quarterly.
Product sales-related parties
Revenue in Q4 2021 has a contribution of 1.22% in total revenue of their company. It witnessed a decrease of 29.72% yearly and an increase of 7.69% quarterly. Omnibus charges are included in this segment. These charges are related to services that support MPLX’s operations and maintenance activities, as well as compensation charges.
Rental income
Revenue from the Rental segment has fallen by $14 million and $11 million as compared to Q3 2020 and Q2 2021 respectively. This was primarily due to the reclassification of parcel income between service profit, rental income, and sales-type lease revenue due to alterations to lease contracts.
Rental income-related parties
This segment has contributed 10.49% to the total revenue in Q4 2021. It witnessed a decrease of 13.72% yearly and an increase of 15.9% quarterly.
Sales-type lease revenue-related parties
This segment has generated no revenue in the latest quarter. This was primarily due to the reclassification of income from this segment between service profit, rental income, and sales-type lease revenue due to alterations to lease contracts.
Service revenue
This segment contributes 27.02% to the company’s revenue. It decreased by 0.66% yearly and increased by 3% quarterly.
Service revenue-product related
This segment contributes 2.32% to the company’s revenue. It increased by 100% yearly and decreased by 35.36% quarterly.
Service revenue-related parties
The majority of the company’s revenue was generated through this segment, accounted for 38.74% of the company’s revenue in Q4 2021, amounting to $53 million. It witnessed a decrease of 0.77% yearly and an increase of 1.77% quarterly.
Other income
This segment didn’t contribute to the total revenue of the company as it has generated no revenue in the latest quarter of Q3 2021.
Other income-related parties
This segment contributes 4.46% to the company’s revenue in Q3 2021. It witnessed a decline of 57.14% yearly and an increment of 277.77% quarterly.
About MPLX
They are a diversified, large-cap master limited partnership (“ MLP”) formed in 2012 by MPC. MPLX engages in trades with both MPC and certain of its equity method investments as part of its normal business. MPC provides administrative operation services and certain general and managerial services to MPLX.
They own and operate midstream energy infrastructure and logistics assets, and provide energy distribution services. The company also owns crude oil and natural gas gathering systems and channels, as well as natural gas and natural gas liquids (NGL) processing and separation installations in key U.S. supply basins. The common stock of the company is publicly traded on the NYSE under the symbol “MPLX”.
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