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Marathon Petroleum (MPC) Q1 Earnings, Revenue Lag Estimate
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An Earnings Miss: Leading downstream operator Marathon Petroleum Corporation (MPC - Free Report) reported earnings per share of 8 cents, lower than the Zacks Consensus Estimate of 14 cents.
Estimate Revision Trend & Surprise History: While the Zacks Consensus Estimate for the quarter has been unchanged in the last seven days, the stock had seen the Zacks Consensus Estimate for first-quarter earnings being revised 65.9% downward over the last month.
Marathon Petroleum Corporation Price and EPS Surprise
Nonetheless, Marathon Petroleum has a good earnings surprise history. Before posting the earnings miss in Q1, the company delivered positive surprises in three of the prior four quarters, as shown in the chart below:
Overall, the company has a positive earnings surprise of 182.62% in the trailing four quarters.
Revenue Came in Lower than Expected: Marathon Petroleum posted revenues of $18,984 million, below the Zacks Consensus Estimate of $22,390 million.
Key Stats: Operating loss from the Refining & Marketing segment was $133 million compared with the loss of $70 million in the year-ago quarter.
Total refined product sales volumes were 2,275 thousand barrels per day (mbpd), up from the 2,085 mbpd in the year-ago quarter. Moreover, throughput improved from 1,708 mbpd in the year-ago quarter to 1,905 mbpd.
Income from the Speedway retail stations totaled $95 million, 29.6% below the year-ago period.
Finally, Midstream segment profitability was $567 million, up from $309 million in the first quarter of 2017.
Andeavor Acquisition: Yesterday, Marathon Petroleum announced that it has agreed to buy rival Andeavor for $23.3 billion. Should the deal go through, it will create the largest independent American oil refiner by capacity.
Zacks Rank: Currently, Marathon Petroleum carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently don’t 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!
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.
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Marathon Petroleum (MPC) Q1 Earnings, Revenue Lag Estimate
An Earnings Miss: Leading downstream operator Marathon Petroleum Corporation (MPC - Free Report) reported earnings per share of 8 cents, lower than the Zacks Consensus Estimate of 14 cents.
Estimate Revision Trend & Surprise History: While the Zacks Consensus Estimate for the quarter has been unchanged in the last seven days, the stock had seen the Zacks Consensus Estimate for first-quarter earnings being revised 65.9% downward over the last month.
Marathon Petroleum Corporation Price and EPS Surprise
Marathon Petroleum Corporation Price and EPS Surprise | Marathon Petroleum Corporation Quote
Nonetheless, Marathon Petroleum has a good earnings surprise history. Before posting the earnings miss in Q1, the company delivered positive surprises in three of the prior four quarters, as shown in the chart below:
Overall, the company has a positive earnings surprise of 182.62% in the trailing four quarters.
Revenue Came in Lower than Expected: Marathon Petroleum posted revenues of $18,984 million, below the Zacks Consensus Estimate of $22,390 million.
Key Stats: Operating loss from the Refining & Marketing segment was $133 million compared with the loss of $70 million in the year-ago quarter.
Total refined product sales volumes were 2,275 thousand barrels per day (mbpd), up from the 2,085 mbpd in the year-ago quarter. Moreover, throughput improved from 1,708 mbpd in the year-ago quarter to 1,905 mbpd.
Income from the Speedway retail stations totaled $95 million, 29.6% below the year-ago period.
Finally, Midstream segment profitability was $567 million, up from $309 million in the first quarter of 2017.
Andeavor Acquisition: Yesterday, Marathon Petroleum announced that it has agreed to buy rival Andeavor for $23.3 billion. Should the deal go through, it will create the largest independent American oil refiner by capacity.
Zacks Rank: Currently, Marathon Petroleum carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently don’t 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!
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 >>