Categories Earnings, Energy, LATEST

Marathon Petroleum Corp. (MPC): Q3 2019 Earnings Snapshot

— Marathon Petroleum Corp. (NYSE: MPC) reported third-quarter 2019 earnings of $1.63 per share, vs. $1.38 per share expected.

— Total revenues and other income grew 35% to $31.2 billion, vs $34.4 billion expected. Realized $283 million of synergies in Q3.

— Will separate its Speedway business into an independent company. Will also evaluate alternatives to enhance value across the midstream business.

— MPC shares were up 1.5% immediately following the announcement.

Marathon Petroleum Q3 2019 Earnings Infographic

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