secwatch.observer — SEC 8-K summary
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Issuer:     Marathon Petroleum Corp (MPC)
CIK:        0001510295
Form:       8-K
Filed at:   2024-11-05T23:59:59+00:00
Accession:  0001510295-24-000078
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marathon Petroleum Q3 net income $622M ($1.87/diluted), down 81% YoY; dividend raised 10%
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- Net income $622M vs $3.3B YoY; adjusted EBITDA $2.5B vs $5.7B; refining margins fell to $14.35/bbl from $26.16/bbl.
- Returned $3.0B to shareholders in Q3: $2.7B buybacks + $273M dividends; board approved additional $5B buyback authorization.
- Quarterly dividend increased 10% to $0.91/share, payable Dec 10 to holders of record Nov 20; MPC expects $2.5B annual MPLX distributions.
- Midstream segment adjusted EBITDA $1.6B (+6% YoY) driven by Permian/Marcellus growth; MPLX capacity expansions on track.
- Q4 outlook: crude throughput ~2.65M bpd, refining costs $5.50/bbl, turnaround costs $285M; FY capex includes high-return refinery projects.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510295/000151029524000078/0001510295-24-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510295/000151029524000078/mpc-20241105.htm
  HTML page:      https://secwatch.observer/filing/0001510295-24-000078

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