Marathon Petroleum Q1 net income $937M ($2.58 EPS), down 65% YoY; adds $5B buyback

Marathon Petroleum Corp

2024-Q1 EPS reported $2.58 revenue$32,706,000,000

Net income $937M ($2.58 diluted EPS) vs $2.7B ($6.09) in Q1 2023; adjusted EBITDA $3.3B vs $5.2B.
Returned $2.5B to shareholders: $2.2B buybacks + $299M dividends; Board approved additional $5B repurchase authorization (total ~$8.8B available).
R&M segment adj EBITDA $1.9B ($7.73/bbl), down from $3.9B ($15.09/bbl) as planned turnarounds cut utilization to 82%.
Midstream segment adj EBITDA $1.6B, up from $1.5B; MPLX acquired Utica midstream assets for $625M and advanced Permian/Marcellus plants.
Q2 2024 outlook: R&M throughput ~2.97M bpd, turnaround costs $200M, operating costs $4.95/bbl, corporate expense $200M.

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 0.9

Marathon Petroleum Corp reported first quarter of 2024 results: net income $937 million, EPS $2.58 per diluted share.

Period: first quarter of 2024
Net income: $937 million
EPS: $2.58 per diluted share
Result: reported results

Exact text from the filing

Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $937 million, or $2.58 per diluted share, for the first quarter of 2024.

View on SEC.gov

379 earnings releases filed in the last 30 days. Browse all earnings releases →

Marathon Petroleum Corp filing history →

Source: SEC EDGAR

accession 0001510295-24-000045

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.