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Sep 30, 2023
Marathon Petroleum Q3 2023 Earnings Report
Marathon Petroleum's Q3 2023 performance reflected strong cash generation and commitment to shareholder returns.
Key Takeaways
Marathon Petroleum Corp. reported a net income attributable to MPC of $3.3 billion, or $8.28 per diluted share, for the third quarter of 2023. The company generated $5 billion of net cash from operating activities and returned $3.1 billion to shareholders through share repurchases and dividends. MPC also increased its quarterly dividend by 10% and expanded its share repurchase authorization by $5 billion.
Net income attributable to MPC was $3.3 billion, or $8.28 per diluted share.
Adjusted net income reached $3.2 billion, or $8.14 per adjusted diluted share.
Adjusted EBITDA was $5.7 billion, driven by strong cash generation with $5.0 billion from operating activities.
Returned $3.1 billion to shareholders through share repurchases and dividends, and increased the quarterly dividend by 10%.
Forward Guidance
Marathon Petroleum provided the following outlook for the fourth quarter of 2023:
Historical Earnings Impact
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Avg. Return Before/After Earnings
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