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Marathon Petroleum (MPC) Reports Q4 Earnings: What Key Metrics Have to Say

For the quarter ended December 2023, Marathon Petroleum (MPC) reported revenue of $36.82 billion, down 8.2% over the same period last year. EPS came in at $3.98, compared to $6.65 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $33.73 billion, representing a surprise of +9.18%. The company delivered an EPS surprise of +68.64%, with the consensus EPS estimate being $2.36.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Marathon Petroleum performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Refining & Marketing - Net refinery throughput: 2931 millions of barrels of oil per day versus the four-analyst average estimate of 2891.22 millions of barrels of oil per day.

  • Refining & Marketing - Crude oil refined Throughput: 2668 millions of barrels of oil per day versus 2627.38 millions of barrels of oil per day estimated by three analysts on average.

  • Income from operations- Refining & Marketing: $1.24 billion versus $811.90 million estimated by four analysts on average.

  • Income from operations- Midstream: $1.29 billion versus the four-analyst average estimate of $1.19 billion.

  • Corporate and other unallocated items: -$224 million compared to the -$458.21 million average estimate based on three analysts.

  • Midstream Segment- Segment EBITDA: $1.57 billion compared to the $1.45 billion average estimate based on three analysts.

  • Refining & Marketing- EBITDA: $2.16 billion versus the two-analyst average estimate of $1.48 billion.

View all Key Company Metrics for Marathon Petroleum here>>>

Shares of Marathon Petroleum have returned +7.9% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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