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
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,
