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Marathon Petroleum (MPC) Beats Q1 Earnings, Revenue - Tale of the Tape

Zacks Equity Research

Findlay, Ohio-based Marathon Petroleum Corp. (MPC) is a leading independent refiner, transporter and marketer of petroleum products. The company, in its current form, came into existence following the 2011 spin-off of Houston, Texas-based Marathon Oil Corp.’s (MRO) refining/sales business into a separate, independent and publicly traded entity. Marathon Petroleum operates in three segments: Refining and Marketing, Speedway (Retail), and Pipeline Transportation.

Currently, Marathon Petroleum has a Zacks Rank #2 (Buy) but that could change following its first quarter 2015 earnings report which has just released. Coming to earnings surprise history, the company has a good track record: its beaten estimates in 3 of the last four quarters at an average rate of 24.11%.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Marathon Petroleum beats on earnings. Earnings per share came in at $3.24, considerably above the Zacks Consensus Estimate of $2.96.

Revenue: Revenues above expectations. Revenues of $17,240 million also surpassed the Zacks Consensus Estimate of $15,808 million.

Key Stats: Operating income from the Refining & Marketing segment was 1,316 million compared with $362 million in the year-ago quarter. Total refined product sales volumes were 2,246 thousand barrels per day (mbpd), higher than 1,964 mbpd in the year-ago quarter. Throughput improved substantially from 1,650 mbpd in the year-ago quarter to 1,852 mbpd.

Check back later for our full write up on this Marathon Petroleum earnings report later!

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