Energy company Marathon Petroleum Corp. (NYSE: MPC) Tuesday reported a sharp fall in profit for the third quarter of 2024, hurt by a decrease in revenues.
- Net income attributable to the company plunged to $622 million or $1.87 per share in Q3 from $3.3 billion or $8.28 per share in the year-ago quarter
- At $35.4 billion, total revenues and other income were down 15% year-over-year in the September quarter
- Third-quarter adjusted EBITDA dropped to $2.5 billion from $5.7 billion in the comparable quarter of 2023
- Net cash provided by operating activities was $1.7 billion in Q3; the company returned $3.0 billion of capital to shareholders
- Corporate expenses totaled $224 million in the third quarter, vs. $246 million in the same period last year
- At the end of the quarter, Marathon had $5.1 billion of cash, cash equivalents, and short-term investments
- The board of directors approved an increase to the quarterly dividend to $0.91 per share, payable on December 10, 2024
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
Yum! Brands (YUM) Q3 2024 Earnings: Key financials and quarterly highlights
Yum! Brands, Inc. (NYSE: YUM) reported its third quarter 2024 earnings results today. Total revenues grew 7% year-over-year to $1.82 billion. Net income decreased 8% to $382 million, or $1.35
Earnings Preview: Home Depot’s Q3 report likely to reflect weak consumer demand
The US housing industry has been mostly resilient to headwinds like economic uncertainties so far this year. However, housing activity cooled in recent months as high mortgage rates and inflation
Take-Two Interactive (TTWO) will report Q2 2025 earnings this week, a few points to note
Shares of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) stayed red on Monday. The stock has gained 16% over the past three months. The gaming company is set to report its second
