Newsletter

Menu

Marathon Petroleum Q2 profit rises 5%, beats estimates

By Staff Correspondent |

Marathon Petroleum Corporation (NYSE: MPC) reported a 5% increase in earnings for the second quarter of 2019 helped by higher revenue despite EPS falling by 27% on higher weighted average shares. The results exceeded analysts’ expectations.

Net income rose by 5% to $1.11 billion while earnings plunged by 27% to $1.66 per share due to higher weighted average shares. Adjusted earnings dropped by 24% to $1.73 per share. Total revenues soared by 50% to $33.69 billion.

Looking ahead into the third quarter, the company’s refinery throughputs outlook from refining and marketing segment was 3,050 mbpd. In the refining and marketing segment, refining operating costs per barrel are predicted to be $5.90 and distribution costs are projected to be $1.3 billion. In the retail segment, speedway fuel sales are anticipated to be 2,525 to 2,675 millions of gallons and merchandise sales are expected to be $1.625 billion to $1.725 billion.

Marathon Petroleum Q2 profit rises 5%, beats estimates

In the second quarter, the company realized $270 million of synergies. Combined with first-quarter results, the company has realized $403 million of synergies year-to-date. Marathon’s progress gives it great confidence in achieving the target of up to $600 million of annual gross run-rate synergies by year-end 2019 and $1.4 billion by the end of 2021.

In the retail segment, Speedway continues to expand its brand through store conversions. As of June 30, 2019, Speedway had completed 237 store conversions in 2019, bringing the total number of conversions since the combination with Andeavor to 407. The company remains on track to complete 700 total cumulative store conversions by the end of 2019 including locations in the Southwest and on the West Coast.

Also read: Sprint Q1 earnings preview

Among the other energy firms, Chevron (NYSE: CVX) is set to release its second-quarter earnings results on Friday, August 2. Last week, ConocoPhillips (NYSE: COP) posted a decline in earnings due to the settlement of certain tax disputes and amounts recognized from the PDVSA International Chamber of Commerce settlement.

Shares of Marathon Petroleum ended Wednesday’s regular session down 1.16% at $56.39 on the NYSE. Following the earnings release, the stock rose over 1% in the premarket session.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Advertisement

More on this Company

Infographic: Schlumberger (SLB) Q3 2021 Earnings Results

October 22, 2021
stock earnings conference call transcript

EOG Resources Inc (NYSE: EOG) Q4 2019 Earnings Call Transcript

March 27, 2020
stock earnings conference call transcript

Phillips 66 (NYSE: PSX) Q4 2019 Earnings Call Transcript

March 27, 2020

196 responses to “Marathon Petroleum Q2 profit rises 5%, beats estimates”

  28. Fiverr Earn

    […]Wonderful story, reckoned we could combine a handful of unrelated information, nevertheless actually really worth taking a appear, whoa did one understand about Mid East has got additional problerms too […]

  38. micro bully lifespan

    […]we like to honor numerous other online internet sites around the web, even if they aren’t linked to us, by linking to them. Under are some webpages really worth checking out[…]

  44. brindle french bulldog

    […]Wonderful story, reckoned we could combine a handful of unrelated data, nevertheless definitely really worth taking a look, whoa did one master about Mid East has got extra problerms too […]

  52. rent a golf cart isla mujeres

    […]Wonderful story, reckoned we could combine a couple of unrelated information, nonetheless actually worth taking a appear, whoa did a single study about Mid East has got a lot more problerms also […]

  58. Fiverr

    […]that may be the end of this article. Here you will come across some sites that we think you’ll enjoy, just click the links over[…]

  69. FUE

    […]that would be the end of this article. Here you will come across some sites that we believe you’ll enjoy, just click the links over[…]

  76. Fiverr.Com

    […]we like to honor many other net web pages on the web, even if they aren’t linked to us, by linking to them. Under are some webpages really worth checking out[…]

  77. Sell Anything for Free

    […]Wonderful story, reckoned we could combine a few unrelated information, nevertheless genuinely worth taking a search, whoa did 1 study about Mid East has got far more problerms as well […]

  79. FiverrEarn

    […]Every when inside a though we choose blogs that we study. Listed below are the most up-to-date web pages that we pick […]

  81. Aussie camgirls

    […]Wonderful story, reckoned we could combine several unrelated data, nonetheless truly really worth taking a search, whoa did one particular discover about Mid East has got much more problerms also […]

  85. tea burn supplement

    […]Wonderful story, reckoned we could combine a few unrelated data, nevertheless definitely worth taking a appear, whoa did one particular discover about Mid East has got additional problerms as well […]

  88. collagenius reviews

    […]Wonderful story, reckoned we could combine some unrelated information, nonetheless genuinely really worth taking a appear, whoa did 1 learn about Mid East has got more problerms as well […]

  96. FiverrEarn

    […]very couple of web-sites that transpire to become comprehensive below, from our point of view are undoubtedly effectively worth checking out[…]

  99. garden

    […]just beneath, are several totally not associated websites to ours, having said that, they are surely worth going over[…]

  103. Generator sales Yorkshire

    […]we like to honor quite a few other internet internet sites on the internet, even if they aren’t linked to us, by linking to them. Beneath are some webpages worth checking out[…]

  113. Asesoria Fiscal

    […]just beneath, are several totally not associated websites to ours, nevertheless, they are surely really worth going over[…]

  117. One Peace AMV

    […]that would be the end of this report. Here you will uncover some web-sites that we think you’ll appreciate, just click the hyperlinks over[…]

  122. 918kiss

    […]very couple of sites that occur to become in depth beneath, from our point of view are undoubtedly nicely really worth checking out[…]

  123. หวย24

    […]please pay a visit to the websites we comply with, including this one, because it represents our picks through the web[…]

  125. regles 421

    […]very couple of web sites that take place to become detailed below, from our point of view are undoubtedly nicely worth checking out[…]

  130. megagame

    […]check below, are some absolutely unrelated sites to ours, on the other hand, they are most trustworthy sources that we use[…]

  132. 44 mag ammo

    […]we prefer to honor lots of other world-wide-web sites around the web, even though they aren’t linked to us, by linking to them. Beneath are some webpages worth checking out[…]

  133. itsMasum.Com

    […]Every as soon as inside a even though we select blogs that we read. Listed beneath are the most up-to-date internet sites that we select […]

  136. wix seo

    […]here are some hyperlinks to web pages that we link to due to the fact we feel they’re really worth visiting[…]

  139. cheap cam girls

    […]although sites we backlink to beneath are considerably not associated to ours, we feel they are really really worth a go via, so possess a look[…]

  142. registry dog

    […]please check out the websites we adhere to, including this a single, because it represents our picks in the web[…]

  143. culiacan clima

    […]we like to honor a lot of other net web sites around the web, even when they aren’t linked to us, by linking to them. Under are some webpages worth checking out[…]

  148. french bulldog rescue

    […]although websites we backlink to beneath are considerably not associated to ours, we feel they are truly really worth a go via, so have a look[…]

  150. liz kerr

    […]we like to honor numerous other world wide web internet sites around the internet, even when they aren’t linked to us, by linking to them. Underneath are some webpages worth checking out[…]

  151. sick

    […]Every after in a when we opt for blogs that we read. Listed beneath would be the newest web-sites that we decide on […]

  152. P+F

    […]here are some links to sites that we link to mainly because we feel they may be worth visiting[…]

  155. play net app

    […]very few internet sites that come about to be in depth beneath, from our point of view are undoubtedly properly really worth checking out[…]

  157. 라이브스코어

    […]although websites we backlink to below are considerably not connected to ours, we really feel they may be essentially worth a go through, so possess a look[…]

  158. blockchain

    […]we like to honor a lot of other net web sites on the internet, even if they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

  169. in vitro fertilization mexico

    […]we prefer to honor lots of other internet web sites on the net, even though they aren’t linked to us, by linking to them. Below are some webpages worth checking out[…]

  176. mexican candy store near me

    […]we prefer to honor lots of other world wide web sites on the internet, even when they aren’t linked to us, by linking to them. Below are some webpages worth checking out[…]

  177. surrogacy mexico

    […]just beneath, are quite a few absolutely not associated internet sites to ours, on the other hand, they’re certainly worth going over[…]

  185. Dog Papers

    […]very few internet sites that occur to become detailed beneath, from our point of view are undoubtedly properly worth checking out[…]

  189. best seo companies in houston

    […]we like to honor quite a few other internet internet sites around the internet, even if they aren’t linked to us, by linking to them. Below are some webpages worth checking out[…]

  194. minnect expert

    […]we prefer to honor many other web web-sites around the web, even when they aren’t linked to us, by linking to them. Under are some webpages really worth checking out[…]

Top