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Marathon Petroleum
🇺🇸 NYSE:MPC
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OverviewEarningsDividends
•
Dec 31, 2022

Marathon Petroleum Q4 2022 Earnings Report

Marathon Petroleum Corp. reported fourth-quarter net income attributable to MPC of $3.3 billion, or $7.09 per diluted share.

Key Takeaways

Marathon Petroleum Corp. reported net income attributable to MPC of $3.3 billion, or $7.09 per diluted share, for the fourth quarter of 2022. Adjusted net income was $3.1 billion, or $6.65 per diluted share, for the fourth quarter of 2022. The company returned $1.8 billion to shareholders through share repurchases in the fourth quarter.

Fourth-quarter net income attributable to MPC of $3.3 billion, or $7.09 per diluted share; adj. net income of $3.1 billion, or $6.65 per diluted share; adj. EBITDA of $5.8 billion

Full-year net cash provided by operating activities of $16.4 billion, reflecting improving operational and commercial execution

Returned $13.2 billion of capital to shareholders in 2022; $11.9 billion through share repurchases and $1.3 billion through dividends

Announced incremental $5 billion share repurchase authorization

Total Revenue
$40.1B
Previous year: $35.6B
+12.6%
EPS
$6.65
Previous year: $1.3
+411.5%
Refined Product Sales Volume
3.53K
Previous year: 3.6K
-1.9%
Gross Profit
$6.34B
Previous year: $3.25B
+94.9%
Cash and Equivalents
$8.63B
Previous year: $5.29B
+63.0%
Free Cash Flow
$3.66B
Previous year: $3.19B
+14.5%
Total Assets
$89.9B
Previous year: $32.6B
+175.6%

Marathon Petroleum

Marathon Petroleum

Forward Guidance

MPC’s standalone capital spending outlook for 2023 is $1.3 billion. Refining operating costs per barrel $5.60, Distribution costs $1,350 million, Refining planned turnaround costs $350 million, Depreciation and amortization $460 million, Refinery throughputs Crude oil refined 2,540 mbpd, Other charge and blendstocks 295 mbpd, Total 2,835 mbpd, Corporate $175 million

Positive Outlook

  • Approximately 70% of overall spending is focused on growth capital and 30% on sustaining capital.
  • Approximately 40% is allocated to low carbon opportunities focused on expanding into new commercial opportunities, improving the efficiency of MPC’s assets, and lowering the company’s emissions profile and enhancing its long-term sustainability.
  • Phase I of the Martinez Renewable Fuels facility is progressing start-up activities.
  • The facility is on track to reach full Phase I production capacity of 260 million gallons per year of renewable fuels by the end of the first quarter of 2023.
  • MPLX continues to evaluate opportunities to meet the needs of today and participate in an energy-diverse future.

Company Overview

Full financial data and analysis

View Marathon Petroleum