Marathon Petroleum Q4 2023 Earnings Report
Key Takeaways
Marathon Petroleum Corp. reported a net income attributable to MPC of $1.5 billion, or $3.84 per diluted share, for the fourth quarter of 2023, compared to $3.3 billion, or $7.09 per diluted share, for the fourth quarter of 2022. Adjusted net income was $1.5 billion, or $3.98 per diluted share, for the fourth quarter of 2023, compared to $3.1 billion, or $6.65 per diluted share, for the fourth quarter of 2022. The company returned approximately $2.8 billion of capital to shareholders in the fourth quarter. MPC’s standalone capital spending outlook for 2024 is $1.25 billion.
Fourth-quarter net income attributable to MPC was $1.5 billion, or $3.84 per diluted share; adjusted net income was $1.5 billion, or $3.98 per adjusted diluted share.
Full-year 2023 net income attributable to MPC was $9.7 billion, or $23.63 per diluted share; adjusted net income was $9.7 billion, or $23.63 per adjusted diluted share.
Full-year net cash provided by operating activities was $14.1 billion, supporting the return of $12.8 billion of capital to shareholders in 2023.
2024 MPC standalone (excluding MPLX) capital spending outlook is $1.25 billion.
Marathon Petroleum
Marathon Petroleum
Forward Guidance
First Quarter 2024 Outlook