Marathon Petroleum Q3 2022 Earnings Report
Key Takeaways
Marathon Petroleum Corp. reported a strong third quarter with a net income of $4.5 billion, or $9.06 per diluted share. Adjusted net income was $3.9 billion, or $7.81 per diluted share, and adjusted EBITDA reached $6.8 billion. The company completed its $15 billion share repurchase commitment and increased its quarterly dividend by approximately 30%.
Net income attributable to MPC was $4.5 billion, or $9.06 per diluted share; adjusted net income was $3.9 billion, or $7.81 per diluted share.
Adjusted EBITDA was $6.8 billion, driven by improved operational and commercial execution.
MPLX increased its distribution by 10%, with MPC expecting to receive a total of $2 billion on an annual basis.
The company completed a $15 billion return of capital commitment, repurchasing approximately 30% of outstanding shares, and announced a dividend increase of approximately 30% to $0.75 per share.
Marathon Petroleum
Marathon Petroleum
Forward Guidance
Marathon Petroleum provided an outlook for the fourth quarter of 2022, including refining operating costs per barrel, distribution costs, refining planned turnaround costs, depreciation and amortization, and refinery throughputs.