MPC Q4 net income falls to $1.5B from $3.3B YoY; full-year net cash ops $14.1B

Marathon Petroleum Corp

2023-FY EPS reported $23.63 revenue$148,379,000,000

Q4 net income $1.5B ($3.84 diluted EPS) vs $3.3B ($7.09) in Q4 2022; adjusted EPS $3.98.
Full-year 2023 net income $9.7B ($23.63 diluted EPS) vs $14.5B ($28.12) in 2022.
Net cash from operations $14.1B; returned $12.8B to shareholders via buybacks and dividends.
R&M segment adjusted EBITDA $2.2B in Q4 vs $4.6B YoY, driven by lower crack spreads.
2024 MPC standalone capex outlook $1.25B; MPLX capex $1.1B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Marathon Petroleum Corp reported full year 2023 results: net income $9.7 billion, EPS $23.63 per diluted share.

Period: full year 2023
Net income: $9.7 billion
EPS: $23.63 per diluted share
Result: reported results

Exact text from the filing

For the full year 2023, net income attributable to MPC was $9.7 billion, or $23.63 per diluted share, compared with net income attributable to MPC of $14.5 billion, or $28.12 per diluted share for the full year 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Marathon Petroleum Corp reported fourth quarter of 2023 results: net income $1.5 billion, EPS $3.84 per diluted share.

Period: fourth quarter of 2023
Net income: $1.5 billion
EPS: $3.84 per diluted share
Result: reported results

Exact text from the filing

Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $1.5 billion, or $3.84 per diluted share, for the fourth quarter of 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Marathon Petroleum Corp reported the quarter and year ended December 31, 2023 results: net income $1.5 billion, EPS $3.84 per diluted share. Guidance initiated.

Period: the quarter and year ended December 31, 2023
Net income: $1.5 billion
EPS: $3.84 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

On January 30, 2024, Marathon Petroleum Corporation issued a press release announcing its financial results for the quarter and year ended December 31, 2023.

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Source: SEC EDGAR

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