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 highlights from Deere & Co.’s (DE) Q4 2024 earnings results
Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or
NVDA Earnings: Nvidia Q3 profit jumps, beats estimates
NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues
Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance
Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the
