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.
Check back later for our full write up on this Marathon Petroleum earnings report later!
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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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.
Check back later for our full write up on this Marathon Petroleum earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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