Energy company Marathon Petroleum Corp. (NYSE: MPC) on Tuesday reported lower earnings and revenues for the second quarter of 2023.
- Second-quarter net income attributable to the company was $2.2 billion or $5.32 per share, compared to $5.9 billion or $10.95 per share in the year-ago quarter
- Adjusted EBITDA decreased to $4.5 billion during the three-month period from $9.1 billion a year earlier
- The bottom line was negatively impacted by a sharp fall in revenues & other income to $36.8 billion from $54.2 billion in Q2 2022
- Net cash provided by operating activities came in at $4.0 billion, reflecting sustained commercial improvements
- During the quarter, the company returned $3.4 billion of capital, through $3.1 billion in share repurchases and $316 million in dividends