Marathon Petroleum Tops Q3 Earnings, Boosts Stock Buyback
In Q3, MPC spent $950 million on capital programs (39% on Refining & Marketing and 59% on the Midstream segment) compared to $522 million in the year-ago period.
Marathon Petroleum: Shares Are Attractive Despite Muted Q3 Results
Marathon Petroleum shares have dropped significantly, but Q3 earnings exceeded expectations, boosting the stock by over 3% and reinforcing my bullish stance. The Company's refining operations' implied equity value has sharply declined, creating a compelling investment opportunity, especially with the company's strong capital return capacity and share repurchases. Despite cyclical challenges, US product demand remains firm, and global policy easing should stabilize economic activity, supporting a recovery in crack spreads.
Marathon Petroleum Corporation (MPC) Q3 2024 Earnings Call Transcript
Marathon Petroleum Corporation. (NYSE:MPC ) Q3 2024 Earnings Conference Call November 5, 2024 11:00 AM ET Company Participants Kristina Kazarian - IR Maryann Mannen - CEO John Quaid - CFO Rick Hessling - Chief Commercial Officer Timothy Aydt - EVP, Refining David Heppner - Chief Strategy Officer & SVP, Business Development Conference Call Participants Neil Mehta - Goldman Sachs Douglas Leggate - Wolfe Research Manav Gupta - UBS Paul Cheng - Scotiabank Roger Read - Wells Fargo John Royall - JPMorgan Jason Gabelman - TD Cowen Operator Welcome to the MPC Third Quarter 2024 Earnings Call.
Marathon Petroleum reports increased revenue but plummeting profits in Q3
Marathon Petroleum Corp (NYSE:MPC) reported a steep decline in profitability on lower market crack spreads that have adversely impacted refining margins. The oil refiner reported a net income of $622 million, or $1.87 per share, for the third quarter of 2024, significantly down from earnings of $3.3 billion, or $8.28 per share, recorded in the same period last year.
Marathon Petroleum (MPC) Tops Q3 Earnings and Revenue Estimates
Marathon Petroleum (MPC) came out with quarterly earnings of $1.87 per share, beating the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $8.14 per share a year ago.
Marathon Petroleum's quarterly profit drops on weak refining margins
Marathon Petroleum reported a lower third-quarter profit on Tuesday as the top U.S. refiner took a hit from weak fuel demand which shrunk refining margins.
Marathon Petroleum Q3 Earnings on Deck: Here's How It Will Fare
Lower refining margins are likely to have impacted the third-quarter earnings of MPC.
Earnings Preview: Marathon Petroleum (MPC) Q3 Earnings Expected to Decline
Marathon Petroleum (MPC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Wall Street Analysts See Marathon Petroleum (MPC) as a Buy: Should You Invest?
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Here is What to Know Beyond Why Marathon Petroleum Corporation (MPC) is a Trending Stock
Marathon Petroleum (MPC) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Marathon Petroleum (MPC) Rises Higher Than Market: Key Facts
Marathon Petroleum (MPC) closed at $162.61 in the latest trading session, marking a +1.64% move from the prior day.
Is Trending Stock Marathon Petroleum Corporation (MPC) a Buy Now?
Recently, Zacks.com users have been paying close attention to Marathon Petroleum (MPC). This makes it worthwhile to examine what the stock has in store.
