Independent oil refiner and marketer Marathon Petroleum Corporation (MPC) reported third-quarter adjusted earnings per share of $1.87, which comfortably beat the Zacks Consensus Estimate of 97 cents. The outperformance primarily reflects the stronger-than-expected performance of its Refining & Marketing segment. The operating income of the segment totaled $298 billion, surpassing the consensus mark, calling for a loss of $64 million on the back of strong product sales and throughput.However, the company’s b ...

Financial Performance - Adjusted EBITDA was $2.485 billion[8], demonstrating a commitment to peer-leading Refining & Marketing results while delivering Midstream growth[5] - MPC expects to receive annual distributions of $2.5 billion from MPLX following a 12.5% quarterly distribution increase[5] - $3.0 billion of capital was returned to shareholders[5] - Share repurchases amounted to $2.701 billion[10] Segment Performance - Refining & Marketing segment adjusted EBITDA was $1.053 billion in 3Q 2024[13] - Midstream segment adjusted EBITDA was $1.628 billion in 3Q 2024[16], up nearly 6% over the prior year period[15] - Refining & Marketing margin was $3.949 billion[14] with a total system capture of 96%[14] Capital Allocation and Outlook - A $5 billion share repurchase authorization and a 10% quarterly dividend increase were announced[5] - The company anticipates ~$200 million in corporate expenses for 4Q 2024, including ~$20 million in depreciation and amortization[21] - Approximately 40% of MPC's growth capital is allocated to renewables and carbon-reduction projects[24] Sustainability - The company is targeting a 30% reduction in Scope 1 & 2 GHG intensity by 2030 and a 38% reduction by 2035 from 2014 levels[23]

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Marathon Petroleum (MPC) came out with quarterly earnings of $1.87 per share, beating the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $8.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 92.78%. A quarter ago, it was expected that this refiner would post earnings of $3.04 per share when it actually produced earnings of $4.12, delivering a surprise of 35.53%.Over the last four quarters, the compan ...

Exhibit 99.1 Marathon Petroleum Corp. Reports Third-Quarter 2024 Results • Third-quarter net income attributable to MPC of $622 million, or $1.87 per diluted share • $2.5 billion of adjusted EBITDA and $1.7 billion of net cash provided by operating activities • Executing Midstream growth anchored in the Permian and Marcellus; $1.6 billion segment adjusted EBITDA in the third quarter, up nearly 6% year-over-year • Annually MPC expects to receive distributions of $2.5 billion following MPLX's 12.5% quarterly ...

FINDLAY, Ohio, Oct. 30, 2024 /PRNewswire/ -- The board of directors of Marathon Petroleum Corp. (NYSE: MPC) has declared a dividend of $0.91 per share on common stock, an increase of 10% over its previous dividend of $0.825 per share. The dividend is payable Dec. 10, 2024, to shareholders of record as of the close of business Nov. 20, 2024.About Marathon Petroleum CorporationMPC is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refi ...

Marathon Petroleum Corporation (MPC) is set to release third-quarter results on Nov. 5. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of 97 cents per share on revenues of $31.6 billion. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. Let's delve into the factors that might have influenced the independent oil refiner and marketer's results in the September quarter. But it's worth taking a look at MPC's previous-quarter performance first. Highlights of ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Marathon Petroleum (MPC) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Nove ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about Marathon Petroleum (MPC) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Marathon Petroleum currently has ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about Marathon Petroleum (MPC) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Marathon Petroleum currently has an average brokerag ...