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Midstream MLPs post strong 2Q26 results and lift 2026 EBITDA outlook
Many midstream companies reported beat-and-raise results, with several citing improved natural gas egress and Permian demand as drivers of higher full-year adjusted EBITDA guidance.
Midstream MLPs and related corporations delivered generally strong second-quarter 2026 earnings, supported by record volume throughput, strong margins, and robust demand for natural gas and natural gas liquids exports, according to ETF Trends.
The outlet reports that companies also highlighted the defensive nature of their fee-based cash flows, pointing to improving basin egress and macro tailwinds as factors that can extend the runway for fee-based EBITDA expansion.
In guidance updates, a significant number of midstream names raised their 2026 adjusted EBITDA guidance, with Sunoco, Williams, and WaterBridge Infrastructure attributing increases primarily to recent M&A activity while many others pointed to improved fundamentals and a constructive production outlook.
Examples cited by ETF Trends include Kinder Morgan, which now expects to finish the year more than 5% favorable to its adjusted EBITDA budget versus 3% outperformance expected in 1Q26, and Plains All American, which raised its Permian production growth outlook to 100 to 200 thousand barrels per day, driven by natural gas egress coming online earlier than expected. The article also notes several companies reaffirmed dividend growth commitments and opportunistic equity repurchases.
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