Marathon Petroleum Q2 2024 Earnings Report
Key Takeaways
Marathon Petroleum reported a net income of $1.5 billion, or $4.33 per diluted share, and an adjusted net income of $1.4 billion, or $4.12 per diluted share, for the second quarter of 2024. The company generated $3.2 billion of net cash from operating activities and returned $3.2 billion to shareholders through share repurchases and dividends.
Second-quarter net income attributable to MPC was $1.5 billion, or $4.33 per diluted share; adjusted net income was $1.4 billion, or $4.12 per diluted share.
Adjusted EBITDA was $3.4 billion and net cash provided by operating activities was $3.2 billion, reflecting strong operational and commercial performance.
Midstream growth advanced with $1.6 billion segment adjusted EBITDA, up 6% year-over-year, focused in the Permian and Marcellus.
MPC received a $550 million quarterly distribution from MPLX and returned $3.2 billion of capital through share repurchases and dividends.
Marathon Petroleum
Marathon Petroleum
Marathon Petroleum Revenue by Geographic Location
Forward Guidance
Third-quarter 2024 outlook for Refining & Marketing segment includes refining operating costs per barrel of $5.35, distribution costs of $1,550 million, refining planned turnaround costs of $330 million, depreciation and amortization of $485 million, and refinery throughputs of 2,845 mbpd. Corporate expenses are expected to be $200 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income