Marathon Petroleum beats profit estimates but reports earnings and revenue decline

From Nasdaq: 2024-04-30 06:44:12

Marathon Petroleum Corporation (MPC) reported a first-quarter profit of $937 million, or $2.58 per share, beating analyst estimates of $2.42 per share. However, this is a decrease from last year’s $2.72 billion, or $6.09 per share. The company’s revenue also fell 8.2% to $32.21 billion from $35.08 billion in the same period last year. These figures indicate a decline in earnings and revenue for Marathon Petroleum Corporation in the first quarter compared to last year.

In summary, Marathon Petroleum Corporation’s (MPC) first-quarter earnings show a profit of $937 million, or $2.58 per share, down from $2.72 billion, or $6.09 per share, last year. Revenue for the quarter also dropped 8.2% to $32.21 billion from $35.08 billion in the previous year. These figures highlight a decrease in both earnings and revenue for MPC in the first quarter.



Read more at Nasdaq: Marathon Petroleum Corporation Announces Drop In Q1 Profit, but beats estimates