Marathon Petroleum Q3 2024 Earnings Report
Key Takeaways
Marathon Petroleum Corp. reported a net income of $622 million, or $1.87 per diluted share, for the third quarter of 2024. Adjusted EBITDA was $2.5 billion. The company returned $3.0 billion to shareholders through share repurchases and dividends and announced an additional $5 billion share repurchase authorization.
Third-quarter net income attributable to MPC was $622 million, or $1.87 per diluted share.
Adjusted EBITDA was $2.5 billion and net cash provided by operating activities was $1.7 billion.
Midstream growth is anchored in the Permian and Marcellus; segment adjusted EBITDA was $1.6 billion, up nearly 6% year-over-year.
MPC expects to receive distributions of $2.5 billion annually following MPLX’s 12.5% quarterly distribution increase.
$3.0 billion of capital was returned to shareholders; an additional $5 billion share repurchase authorization and a 10% quarterly dividend increase were announced.
Marathon Petroleum
Marathon Petroleum
Marathon Petroleum Revenue by Segment
Marathon Petroleum Revenue by Geographic Location
Forward Guidance
Fourth-Quarter 2024 Outlook for Refining & Marketing Segment