Marathon Petroleum: 2Q Earnings Snapshot
FINDLAY, Ohio (AP) _ Marathon Petroleum Corp. (MPC) on Thursday reported second-quarter net income of $1.11 billion.
On a per-share basis, the Findlay, Ohio-based company said it had net income of $1.66. Earnings, adjusted for non-recurring costs, were $1.73 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The refiner posted revenue of $33.69 billion in the period.
Marathon Petroleum shares have dropped slightly more than 4% since the beginning of the year, while the Standard & Poor’s 500 index has risen 19%. The stock has fallen 30% in the last 12 months.