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Marathon Petroleum Sees Resilient Gasoline, Diesel And Jet Demand Globally

BenzingaBenzinga Newsdesk

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    Marathon Petroleum Refining Margin Jumps 160%: Rapid Earnings Reaction

    Marathon Petroleum reported third-quarter net income of $7.4 billion with adjusted EPS of $26.93, up dramatically from $3.01 a year ago, driven primarily by higher refining margins rather than increased volume or lower costs. The company provided no fourth-quarter margin outlook and expects lower throughput, suggesting the exceptional margins may not persist. While the company is returning cash rapidly, profits are heavily dependent on wide refining margins remaining stable.

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    8-K filing — Marathon Petroleum Corp (MPC)

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