---
schema_version: "secwatch.filing_event.v1"
accession: "0001510295-24-000005"
form_type: "8-K"
ticker: "MPC"
cik: "0001510295"
company_name: "Marathon Petroleum Corp"
filed_at: "2024-01-30T23:59:59+00:00"
generated_at: "2026-06-06T14:55:19.568997+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001510295-24-000005
- form_type: 8-K
- ticker: MPC
- cik: 0001510295
- company_name: Marathon Petroleum Corp
- filed_at: 2024-01-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1510295/000151029524000005/0001510295-24-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1510295/000151029524000005/mpc-20240130.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001510295-24-000005
- JSON: https://secwatch.observer/filing/0001510295-24-000005.json
- Plain text: https://secwatch.observer/filing/0001510295-24-000005.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1510295/000151029524000005/0001510295-24-000005-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1510295/000151029524000005/0001510295-24-000005-index.htm
- Earnings Releases
  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
  source text: On January 30, 2024, Marathon Petroleum Corporation issued a press release announcing its financial results for the quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1510295/000151029524000005/0001510295-24-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.