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Marathon Petroleum (MPC) Beats on Q2 Earnings & Revenues
Findlay, Ohio-based Marathon Petroleum Corp. (MPC - Free Report) is a leading independent refiner, transporter and marketer of petroleum products. The company, in its current form, came into existence following the 2011 spin-off of Houston, Texas-based Marathon Oil Corp.’s (MRO - Free Report) refining/sales business into a separate, independent and publicly traded entity. Marathon Petroleum operates in three segments: Refining and Marketing, Speedway (Retail), and Pipeline Transportation.
Currently, Marathon Petroleum has a Zacks Rank #5 (Strong Sell) but that could change following its second quarter 2016 earnings report which has just released.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Marathon Petroleum beats on earnings. Earnings per share came in at $1.07, surpassed the Zacks Consensus Estimate of 95 cents.
Revenue: Revenues above expectations. Revenues of $16,790 million surpassed the Zacks Consensus Estimate of $15,845 million.
Key Stats: Operating income from the Refining & Marketing segment was $1,080 million compared with $1,181 million profit in the year-ago quarter. Total refined product sales volumes were 2,348 thousand barrels per day (mbpd), slightly higher than 2,341 mbpd in the year-ago quarter. Throughput fell from 1,951 mbpd in the year-ago quarter to 1,889 mbpd.
MARATHON PETROL Price and EPS Surprise
MARATHON PETROL Price and EPS Surprise | MARATHON PETROL Quote
Check back later for our full write up on this Marathon Petroleum earnings report later!
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