The company said MPC net income attributable to MPC decreased $711 million in Q2 2024 compared with Q2 2023, citing lower Refining & Marketing margins as the main factor, partially offset by a lower income tax provision.

1. 01

   The company said MPC net income attributable to MPC decreased $711 million in Q2 2024 compared with Q2 2023, citing lower Refining & Marketing margins as the main factor, partially offset by a lower income tax provision.

2. 02

   Marathon Petroleum said Refining & Marketing segment adjusted EBITDA decreased $1.19 billion in Q2. Adjusted EBITDA per barrel was $7.07, compared with $11.88 a year earlier, and margin was $17.37, compared with $22.10 a year earlier.

3. 03

   The company said MPC net income attributable to MPC for the first six months of 2024 decreased $2.50 billion from the same period a year earlier. Refining & Marketing segment adjusted EBITDA decreased $3.17 billion in the first six months, and was $7.37 per barrel, compared with $13.45 a year earlier.

4. 04

   Marathon Petroleum said its liquidity, excluding MPLX, was $11.10 billion as of June 30, 2024. Its board approved an additional $5.0 billion share repurchase authorization on April 30, 2024, and approximately $6.74 billion remained under the authorization as of June 30.

Key figures

Quarter ended June 30, 2024

Revenue

$37.9B

Operating income

$2.5B

Net income

$1.5B

EPS

$4.33

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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