https://assets.capyfin.com/instruments/678fdc13234e27009c5d5810.png avatar
Marathon Petroleum
🇺🇸 NYSE:MPC
View Company
OverviewEarningsDividends
•
Jun 30, 2023

Marathon Petroleum Q2 2023 Earnings Report

Marathon Petroleum reported a decrease in net income and adjusted EBITDA compared to the same quarter last year, but demonstrated strong cash generation and capital return.

Key Takeaways

Marathon Petroleum Corp. reported second-quarter net income attributable to MPC of $2.2 billion, or $5.32 per diluted share, compared to $5.9 billion, or $10.95 per diluted share, for the second quarter of 2022. The adjusted EBITDA was $4.5 billion, compared to $9.1 billion for the second quarter of 2022. The company generated $4.0 billion of net cash provided by operating activities and returned $3.4 billion to shareholders through share repurchases and dividends.

Second-quarter net income attributable to MPC was $2.2 billion, or $5.32 per diluted share.

Adjusted EBITDA for the second quarter was $4.5 billion.

Net cash provided by operating activities totaled $4.0 billion.

Returned $3.4 billion of capital through share repurchases and dividends.

Total Revenue
$36.8B
Previous year: $54.2B
-32.1%
EPS
$5.32
Previous year: $10.6
-49.9%
Refined Product Sales Volume
3.58K
Previous year: 3.62K
-0.9%
Gross Profit
$3.84B
Previous year: $10B
-61.8%
Cash and Equivalents
$7.35B
Previous year: $9.08B
-19.1%
Free Cash Flow
$3.5B
Previous year: $6.45B
-45.7%
Total Assets
$86.4B
Previous year: $32.7B
+164.3%

Marathon Petroleum

Marathon Petroleum

Forward Guidance

Third Quarter 2023 Outlook: Refining & Marketing Segment

Positive Outlook

  • Refinery throughputs (mbpd): Total 2,930

Challenges Ahead

  • Refining operating costs per barrel $5.10
  • Distribution costs (in millions) $1,400
  • Refining planned turnaround costs (in millions) $120
  • Depreciation and amortization (in millions) $480
  • Corporate (in millions) $175

Company Overview

Full financial data and analysis

View Marathon Petroleum