earnings
confidence high
sentiment positive
materiality 0.75
MPC reports Q4 net income $774M, adjusted EPS $1.30; boosts buyback by $5B
Marathon Petroleum Corp
2021-FY EPS reported
$15.24
revenue$119,983,000,000
- Q4 2021 net income $774M ($1.27 diluted EPS) vs $285M ($0.44) in Q4 2020; adjusted net income $794M ($1.30).
- Repurchased ~$3B shares from Oct 31 to Jan 31; completed 55% of $10B program; board approved incremental $5B authorization.
- 2022 MPC capex $1.7B; ~50% of growth capital for Martinez renewable diesel conversion (total project cost $1.2B).
- R&M segment income $881M vs loss of $1.6B YoY; throughput 2.9M bpd at 94% utilization.
- Q1 2022 outlook: total throughput ~2,885 mbpd; refining operating costs $5.10/bbl; turnaround costs $155M.