Marathon (MPC) Beats on Q1 Earnings, Approves $5B Buyback Again
MPCMarathon(MPC) Zacks Investment Research·2024-05-01 22:40

Independent oil refiner and marketer Marathon Petroleum Corporation (MPC) reported first-quarter adjusted earnings per share of 2.78,whichcomfortablybeattheZacksConsensusEstimateof2.78, which comfortably beat the Zacks Consensus Estimate of 2.53. The outperformance primarily reflects the stronger-than-expected performance of its Refining & Marketing segment. Operating income of the segment totaled 766billion,surpassingtheconsensusmarkof766 billion, surpassing the consensus mark of 660 million. However, the company’s bottom line fell from the year-ago adjusted profit of $6.09 due to a higher u ...