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Marathon Petroleum (MPC) Q4 Earnings and Sales Top Estimates
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Independent refiner and marketer Marathon Petroleum (MPC - Free Report) reported fourth quarter 2017 earnings per share of $1.05, ahead of the Zacks Consensus Estimate of $1.00. Higher contribution from the Refining & Marketing segment led to the outperformance.
Revenue Came in Higher than Expected: Marathon Petroleum posted revenues of $21,236 million, beating the Zacks Consensus Estimate of $19,698 million.
Key Stats: Operating income from the Refining & Marketing segment – which is the main contributor to Marathon Petroleum earnings – was $732 million compared with $166 million in the year-ago quarter. The jump reflects wider gross margin.
Total refined product sales volumes were 2,414 thousand barrels per day (mbpd), up from the 2,240 mbpd in the year-ago quarter. Moreover, throughput improved from 1,810 mbpd in the year-ago quarter to 2,024 mbpd.
Income from the Speedway retail stations totaled $149 million, as against $165 million in the prior year quarter. Higher operating expenses and lower merchandise margins affected the results.
Finally, Midstream segment profitability was $343 million, up from $296 million in the fourth quarter of 2016. Earnings were buoyed by strength in volumes gathered, processed and fractionated.
Coming to earnings surprise history, the company has a good record: it’s gone past estimates in three of the last four quarters resulting in an average positive surprise of 198.28%.
Marathon Petroleum Corporation Price and EPS Surprise
Share Performance: Shares of Marathon Petroleum have gained 17.7% during the fourth quarter, outperforming the industry’s 15% increase.
Check back later for our full write up on this Marathon Petroleum earnings report later!
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Marathon Petroleum (MPC) Q4 Earnings and Sales Top Estimates
Independent refiner and marketer Marathon Petroleum (MPC - Free Report) reported fourth quarter 2017 earnings per share of $1.05, ahead of the Zacks Consensus Estimate of $1.00. Higher contribution from the Refining & Marketing segment led to the outperformance.
Revenue Came in Higher than Expected: Marathon Petroleum posted revenues of $21,236 million, beating the Zacks Consensus Estimate of $19,698 million.
Key Stats: Operating income from the Refining & Marketing segment – which is the main contributor to Marathon Petroleum earnings – was $732 million compared with $166 million in the year-ago quarter. The jump reflects wider gross margin.
Total refined product sales volumes were 2,414 thousand barrels per day (mbpd), up from the 2,240 mbpd in the year-ago quarter. Moreover, throughput improved from 1,810 mbpd in the year-ago quarter to 2,024 mbpd.
Income from the Speedway retail stations totaled $149 million, as against $165 million in the prior year quarter. Higher operating expenses and lower merchandise margins affected the results.
Finally, Midstream segment profitability was $343 million, up from $296 million in the fourth quarter of 2016. Earnings were buoyed by strength in volumes gathered, processed and fractionated.
Zacks Rank & Surprise History: Currently, Marathon Petroleum has a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coming to earnings surprise history, the company has a good record: it’s gone past estimates in three of the last four quarters resulting in an average positive surprise of 198.28%.
Marathon Petroleum Corporation Price and EPS Surprise
Marathon Petroleum Corporation Price and EPS Surprise | Marathon Petroleum Corporation Quote
Share Performance: Shares of Marathon Petroleum have gained 17.7% during the fourth quarter, outperforming the industry’s 15% increase.
Check back later for our full write up on this Marathon Petroleum earnings report later!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>