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Marathon Petroleum Reports Better-Than-Expected Q4 Earnings

By
澳洲幸运5官方开奖结果体彩网:Mrinalini Krishna
Mrinalini Krishna
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Mrinalini Krishna is the Senior Editor of investing news at Investopedia. She's been a journalist for more than 10 years covering business, personal finance, and investing news.
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Published January 30, 2024
10:06 AM EST
Marathon Petroleum gas station

hapabapa / Getty Images

Key Takeaways

  • Marathon Petroleum Q4 results beat analysts' expectations on both revenue and profit.
  • Net income attributable to MPC came in at $1.45 billion or $3.84 per diluted share, roughly half of what it was in the same period in 2022.
  • Fourth quarter revenue fell 8% to $36.8 billion.

Marathon Petroleum (MPC) posted better-than-expected fourth-quarter results, beating analysts' expectations on bot🔴h revenue and profit. The company's shares were down slightly in early trading T💛uesday.

Net income attributable to MPC came in at $1.45 billion, or $3.84 per diluted share, roughly half of what it was in the same period in 2022, albeit significantly higher than analysts' expectations amid falling gasoline 💃prices. Revenue fell 8% to $36.8 billion.

Q4 2023  Analysts' Estimates for Q4 2023 Q4 2022
Revenue $36.8 billion  $35.2 billion  $40.1 billion
Diluted EPS $3.84  $2.22  $7.09
Net income $1.45 billion  $835.9M $3.3 billion

Marathon shares were down 0.5% at $23.08 about half hour after the start of trading Tuesday. The🍃 stock has lost 15% 🎶over the past year.

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