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Sep 30, 2024
Marathon Petroleum Q3 2024 Earnings Report
Marathon Petroleum's financial performance decreased due to lower market crack spreads, while Midstream segment saw growth from higher rates and volumes.
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.
Forward Guidance
Fourth-Quarter 2024 Outlook for Refining & Marketing Segment
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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