Marathon Petroleum Q1 Earnings and Revenue Beat Estimates

Marathon Petroleum Corp NYSE MPC reported on Tuesday higher-than-expected earnings and revenues for the first quarter despite lower refining margins and profits compared to the same period last year. Marathon Petroleum ’s first-quarter net income came in at $937 million, or $2.58 per diluted share, one of the biggest U.S. refiners said today. The earnings per share were slightly higher than the analyst consensus estimate of $2.54 compiled by The Wall Street Journal. Total revenues of $33.

7 million barrels per day for the first quarter of 2024, as planned maintenance and turnaround activity hit the highest level in company history and as global refining margins eased from the highs seen in 2022 and 2023. In the first quarter of 2024, Marathon Petroleum returned about $2.5 billion of capital to shareholders through $2.2 billion of share repurchases and $299 million of dividends.

Source: News Formal (newsformal.com)

Revenue Earnings Profit Estimates First Quarter Income

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