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An Earnings Beat: Leading downstream operator Marathon Petroleum Corporation (MPC - Free Report) reported earnings per share of $2.27, higher than the Zacks Consensus Estimate of $1.98.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter rose 2.1% over the last seven days.
Coming to earnings surprise history, the company has a mixed record: its beaten estimates in two of the last four quarters resulting, as shown in the chart below:
Marathon Petroleum Corporation Price and EPS Surprise
Revenue Came in Higher than Expected: Marathon Petroleum posted revenues of $22,445 million, above the Zacks Consensus Estimate of $20,278 million.
Key Stats: Operating profit from the Refining & Marketing segment was $1,025 million compared with $562 million in the year-ago quarter.
Total refined product sales volumes were 2,404 thousand barrels per day (mbpd), up from the 2,370 mbpd in the year-ago quarter. Moreover, throughput edged up from 2,023 mbpd in the year-ago quarter to 2,038 mbpd.
Income from the Speedway retail stations totaled $159 million, 33.2% below the year-ago period.
Finally, Midstream segment profitability was $617 million, up from $332 million in the second quarter of 2017.
Zacks Rank: Currently, Marathon Petroleum carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Marathon Petroleum earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Marathon Petroleum (MPC) Q2 Earnings, Revenue Beat Estimate
An Earnings Beat: Leading downstream operator Marathon Petroleum Corporation (MPC - Free Report) reported earnings per share of $2.27, higher than the Zacks Consensus Estimate of $1.98.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter rose 2.1% over the last seven days.
Coming to earnings surprise history, the company has a mixed record: its beaten estimates in two of the last four quarters resulting, as shown in the chart below:
Marathon Petroleum Corporation Price and EPS Surprise
Marathon Petroleum Corporation Price and EPS Surprise | Marathon Petroleum Corporation Quote
Revenue Came in Higher than Expected: Marathon Petroleum posted revenues of $22,445 million, above the Zacks Consensus Estimate of $20,278 million.
Key Stats: Operating profit from the Refining & Marketing segment was $1,025 million compared with $562 million in the year-ago quarter.
Total refined product sales volumes were 2,404 thousand barrels per day (mbpd), up from the 2,370 mbpd in the year-ago quarter. Moreover, throughput edged up from 2,023 mbpd in the year-ago quarter to 2,038 mbpd.
Income from the Speedway retail stations totaled $159 million, 33.2% below the year-ago period.
Finally, Midstream segment profitability was $617 million, up from $332 million in the second quarter of 2017.
Zacks Rank: Currently, Marathon Petroleum carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Marathon Petroleum earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>