secwatch.observer — SEC 8-K summary
======================================

Issuer:     Marathon Petroleum Corp (MPC)
CIK:        0001510295
Form:       8-K
Filed at:   2021-08-04T23:59:59+00:00
Accession:  0001510295-21-000111
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marathon Petroleum Q2 adj EPS $0.67 vs -$1.33 YoY; sold Speedway, to repurchase $9B in shares
--------------------------------------------------------------------------------

- Net income $8.5B ($13.00 diluted EPS) includes $11.6B pre-tax gain on Speedway sale; adjusted net income $437M ($0.67).
- Closed $21B Speedway sale to 7-Eleven; repurchased ~$1B shares via Dutch auction; plans $9B more repurchases over 12-16 months.
- R&M segment income $224M vs -$1.5B YoY on higher crack spreads; crude throughput 2.9M bpd at 94% utilization.
- Midstream segment income $977M vs $869M YoY; Dickinson renewable diesel reached 184M gal/yr design capacity.
- Debt reduced by $3.3B to $9.1B; debt-to-capital ratio 24%; Q3 R&M throughput guidance 2.8M bpd.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510295/000151029521000111/0001510295-21-000111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510295/000151029521000111/mpc-20210804.htm
  HTML page:      https://secwatch.observer/filing/0001510295-21-000111

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer