Marathon Petroleum Q1 2020 Earnings Report
Key Takeaways
Marathon Petroleum Corp. reported a first-quarter net loss of $9.2 billion, or $(14.25) per diluted share, which included pre-tax non-cash charges of $12.4 billion. The company is responding to the COVID-19 environment by reducing capital spending and operating expenses. They also enhanced liquidity through senior notes issuance and an additional revolver.
Reported first-quarter loss of $9.2 billion, or $(14.25) per diluted share, including pre-tax non-cash charges of $12.4 billion; adjusted loss of $106 million, or $(0.16) per diluted share
Cash used in operations of $768 million; cash provided by operations of $1.3 billion, excluding working capital changes
Announced business response to COVID-19 environment, including $1.4 billion of capital and $950 million of expense reductions
Enhanced liquidity by $3.5 billion through senior notes issuance and additional revolver
Marathon Petroleum
Marathon Petroleum
Marathon Petroleum Revenue by Segment
Forward Guidance
Second Quarter 2020 Outlook
Revenue & Expenses
Visualization of income flow from segment revenue to net income