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

Issuer:     Marathon Petroleum Corp (MPC)
CIK:        0001510295
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001510295-23-000045
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MPC Q1 2023 net income $2.7B ($6.09 EPS) vs $845M YoY; adj. EBITDA $5.2B; adds $5B buyback auth.
--------------------------------------------------------------------------------

- Net income $2.7B ($6.09 diluted EPS) vs $845M ($1.49) YoY; adjusted EBITDA $5.2B vs $2.6B.
- Returned $3.5B to shareholders: $3.2B buybacks and $337M dividends; additional $5B buyback authorization approved, total $9B available.
- Refining & Marketing segment adjusted EBITDA $3.85B ($15.09/barrel) vs $1.37B ($5.39/bbl); crude utilization 89%, throughput 2.8M bpd.
- Martinez Renewables Phase I at full capacity (260M gal/yr); Phase II on track; Galveston Bay STAR project started, adding 40k bpd crude capacity.
- Q2 2023 outlook: throughput ~2.86M bpd, operating costs $5.20/bbl, turnaround costs $400M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510295/000151029523000045/0001510295-23-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510295/000151029523000045/mpc-20230502.htm
  HTML page:      https://secwatch.observer/filing/0001510295-23-000045

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