MPC Q3 net income $4.5B ($9.06/diluted); raises dividend 30% to $0.75/share

Marathon Petroleum Corp

2022-Q3 EPS reported $21.04 revenue$137,640,000,000

Net income $4.5B vs $694M YoY; adjusted net income $3.9B ($7.81/diluted) vs $464M ($0.73) last year.
Adjusted EBITDA $6.8B vs $2.4B YoY; R&M segment margin $30.21/barrel, utilization 98%.
Completed $15B share repurchase commitment, repurchased ~30% of outstanding shares; ~$5B remaining under authorizations.
Quarterly dividend increased ~30% to $0.75/share, payable Dec 12 to holders of record Nov 16.
Martinez Renewables JV with Neste closed Sept 21; initial renewable capacity 260M gal/yr by year-end 2022.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Marathon Petroleum Corp reported the third quarter of 2022 results: net income $4.5 billion, EPS $9.06 per diluted share.

Period: the third quarter of 2022
Net income: $4.5 billion
EPS: $9.06 per diluted share
Result: reported results

Exact text from the filing

Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $4.5 billion, or $9.06 per diluted share, for the third quarter of 2022

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Source: SEC EDGAR

accession 0001510295-22-000075

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