Marathon(US:MPC)2024-11-05 18:59Financial 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]