Marathon Petroleum Tops Q3 Earnings, Boosts Stock Buyback
MPCMarathon(MPC) ZACKS·2024-11-06 22:40

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 ...