— Marathon Petroleum Corp. (NYSE: MPC) reported GAAP earnings of $0.68 per share in the fourth-quarter 2019, which included a pre-tax charge of $1.2 billion primarily related to a midstream goodwill impairment related to MPLX LP.
— On an
adjusted basis, Q4 earnings came in at $1.56 per share vs. $0.86 per share expected.
— Total revenue
fell 3.4 % to $31.4 billion, vs. $33.88 billion expected.
— Marathon realized $420 million of synergies in the fourth quarter.
— MPC shares
rose 1% immediately following the announcement.