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:max_bytes(150000):strip_icc()/GettyImages-1440903942-5763d71d5927403babd685400900b42b.jpg "Marathon Petroleum Reports Better-Than-Expected Q4 Earnings")
Key Takeaways
- Marathon Petroleum Q4 results beat analysts’ expectations on both revenue and profit.
- Net income attributable to MPC came in at $1.45 billion or $3.84 per diluted share, roughly half of what it was in the same period in 2022.
- Fourth quarter revenue fell 8% to $36.8 billion.
Marathon Petroleum (MPC) posted better-than-expected fourth-quarter results, beating analysts’ expectations on both revenue and profit. The company’s shares were down slightly in early trading Tuesday.
Net income attributable to MPC came in at $1.45 billion, or $3.84 per diluted share, roughly half of what it was in the same period in 2022, albeit significantly higher than analysts’ expectations amid falling gasoline prices. Revenue fell 8% to $36.8 billion.
| Q4 2023 | Analysts’ Estimates for Q4 2023 | Q4 2022 | |
|---|---|---|---|
| Revenue | $36.8 billion | $35.2 billion | $40.1 billion |
| Diluted EPS | $3.84 | $2.22 | $7.09 |
| Net income | $1.45 billion | $835.9M | $3.3 billion |
Marathon shares were down 0.5% at $23.08 about half hour after the start of trading Tuesday. The stock has lost 15% over the past year.