secwatch.observer — SEC 8-K summary
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Issuer:     Marathon Petroleum Corp (MPC)
CIK:        0001510295
Form:       8-K
Filed at:   2022-02-02T23:59:59+00:00
Accession:  0001510295-22-000006
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MPC reports Q4 net income $774M, adjusted EPS $1.30; boosts buyback by $5B
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510295/000151029522000006/0001510295-22-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510295/000151029522000006/mpc-20220202.htm
  HTML page:      https://secwatch.observer/filing/0001510295-22-000006

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