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
Key metrics from Kroger’s (KR) Q3 2025 earnings results
The Kroger Co. (NYSE: KR) reported its third quarter 2025 earnings results today. Total company sales rose to $33.9 billion from $33.6 billion in the same period last year. Identical
Dollar General (DG) Q3 2025 Earnings: Key financials and quarterly highlights
Dollar General Corporation (NYSE: DG) reported its third quarter 2025 earnings results today. Net sales increased 4.6% year-over-year to $10.65 billion. Same-store sales increased 2.5%. Net income was $282.7 million, or
HRL Earnings: All you need to know about Hormel Foods’ Q4 2025 earnings results
Hormel Foods Corporation (NYSE: HRL) reported its fourth quarter 2025 earnings results today. Net sales increased 1.5% year-over-year to $3.18 billion. Organic sales were up 2%. Net loss attributable to Hormel
