Marathon (MPC) Q4 Earnings Top Despite a Decline in Margins

Independent oil refiner and marketer Marathon Petroleum Corp. (MPC) reported fourth-quarter adjusted earnings per share of $3.98, which comfortably beat the Zacks Consensus Estimate of$2.36. The outperformance primarily reflects the stronger-than-expected performance of its key Refining & Marketing segment. Operating income of the segment totaled $1.2 billion, above the consensus mark of$812 million.However, the company’s bottom line fell from the year-ago adjusted profit of $6.65 due to a higher unit ope ...