NYSE$MPC
Marathon Petroleum Corporation · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported net income attributable to MPC and returned capital through share repurchases and dividends.
Marathon Petroleum Corp. reported a net income attributable to MPC of $937 million, or $2.58 per diluted share, for the first quarter of 2024. The company safely completed its largest planned maintenance quarter and advanced its midstream growth strategy. MPC returned $2.5 billion to shareholders through share repurchases and dividends and announced an additional $5 billion share repurchase authorization.
- First-quarter net income attributable to MPC was $937 million, or $2.58 per diluted share; adjusted EBITDA was $3.3 billion.
- Net cash provided by operating activities was $1.5 billion; the company safely and successfully completed its largest planned maintenance quarter in MPC history.
- Advanced midstream growth strategy with new processing plants and acquisition of Utica midstream assets; MPLX distributed $550 million to MPC.
- Returned $2.5 billion of capital through $2.2 billion of share repurchases and $299 million of dividends; announced an additional $5 billion share repurchase authorization.
Headline financials
Revenue & EPS history
Marathon Petroleum · Revenue · Quarterly
$32.7B
Forward guidance
Marathon Petroleum provided an outlook for the second quarter of 2024, including refining operating costs per barrel, distribution costs, refining planned turnaround costs, depreciation and amortization, and refinery throughputs.
Tailwinds
- Executing on a multi-year infrastructure investment at its Los Angeles refinery.
- Constructing a 90,000 barrel per day distillate hydrotreater at its Galveston Bay refinery.
- Executing on smaller projects that offer high returns targeted at enhancing refinery yields.
- Improving energy efficiency.
- Lowering costs.
Headwinds
- Refining operating costs per barrel(a) $4.95
- Distribution costs (in millions) $1,500
- Refining planned turnaround costs (in millions) $200
- Depreciation and amortization (in millions) $485
- Corporate (includes $20 million of D&A) $200
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.4%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+2.2%
Avg return
30 days after
58%
38 / 66 earnings
Positive
+8.9%
Q4 2020
Best reaction
-13.2%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.9% | -3.0% | +3.2% | |
| Q4 2025 | +5.2% | +14.7% | +22.9% | |
| Q3 2025 | -6.1% | -1.0% | -2.9% | |
| Q2 2025 | +0.6% | -4.2% | +6.6% | |
| Q1 2025 | +1.0% | +5.3% | +10.4% | |
| Q4 2024 | +6.7% | +2.1% | -6.4% | |
| Q3 2024 | +7.1% | +6.1% | +3.6% | |
| Q2 2024 | +4.5% | +8.5% | +4.0% | |
| Q1 2024 | -10.7% | -9.0% | -14.2% | |
| Q4 2023 | +3.4% | +3.9% | +5.7% | |
| Q3 2023 | +5.7% | +2.7% | +1.6% | |
| Q2 2023 | +2.1% | +3.7% | +7.3% | |
| Q1 2023 | -10.1% | -12.7% | -13.5% | |
| Q4 2022 | -4.8% | -8.5% | +0.4% | |
| Q3 2022 | +1.0% | +3.5% | +5.8% | |
| Q2 2022 | +2.6% | -0.1% | +7.1% | |
| Q1 2022 | +8.1% | +7.6% | +17.0% | |
| Q4 2021 | +4.0% | +7.8% | +5.0% | |
| Q3 2021 | -5.3% | -2.2% | -5.8% | |
| Q2 2021 | +1.0% | +2.3% | +4.1% | |
| Q1 2021 | +3.9% | +5.0% | +10.7% | |
| Q4 2020 | +8.9% | +1.8% | -0.1% | |
| Q3 2020 | +8.2% | +7.1% | +37.6% | |
| Q2 2020 | -1.3% | -4.0% | -8.4% | |
| Q1 2020 | -6.3% | +4.8% | +20.6% | |
| Q4 2019 | +2.7% | -1.6% | -10.4% | |
| Q3 2019 | +0.4% | +0.4% | -8.4% | |
| Q2 2019 | -4.9% | -12.1% | -12.7% | |
| Q1 2019 | -10.9% | -14.7% | -20.9% | |
| Q4 2018 | -6.2% | -7.5% | -14.0% | |
| Q3 2018 | -1.4% | -3.0% | -7.5% | |
| Q2 2018 | +8.4% | +8.2% | +12.2% | |
| Q1 2018 | -10.5% | -5.5% | -2.3% | |
| Q4 2017 | -2.7% | -5.2% | -5.9% | |
| Q3 2017 | +3.6% | +5.8% | +9.9% | |
| Q2 2017 | -1.2% | +1.6% | -7.1% | |
| Q1 2017 | +2.7% | +3.7% | +6.5% | |
| Q4 2016 | -0.3% | +0.7% | +6.7% | |
| Q3 2016 | -3.3% | -4.3% | +8.9% | |
| Q2 2016 | +4.1% | +2.5% | +10.6% | |
| Q1 2016 | -5.5% | — | — | |
| Q4 2015 | -13.2% | — | — | |
| Q3 2015 | +3.9% | — | — | |
| Q2 2015 | -2.0% | — | — | |
| Q1 2015 | +0.1% | — | — | |
| Q4 2014 | +1.5% | — | — | |
| Q3 2014 | +4.0% | — | — | |
| Q2 2014 | +5.8% | — | — | |
| Q1 2014 | +3.0% | — | — | |
| Q4 2013 | +5.2% | — | — | |
| Q3 2013 | -2.3% | — | — | |
| Q2 2013 | -1.9% | — | — | |
| Q1 2013 | -10.8% | — | — | |
| Q4 2012 | +3.1% | — | — | |
| Q3 2012 | -3.4% | — | — | |
| Q2 2012 | -1.4% | — | — | |
| Q1 2011 | -0.8% | — | — | |
| Q1 2012 | -2.1% | — | — | |
| Q4 2011 | +2.5% | — | — | |
| Q4 2009 | +2.5% | — | — | |
| Q1 2010 | +2.5% | — | — | |
| Q3 2010 | -1.1% | — | — | |
| Q3 2011 | -1.1% | — | — | |
| Q4 2010 | +8.6% | — | — | |
| Q2 2011 | +8.6% | — | — | |
| Q2 2010 | +8.6% | — | — |
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