Marathon Petroleum Earnings: Here’s Why Shares are Up Now

Marathon Petroleum Corporation (NYSE:MPC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.91%.

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Marathon Petroleum Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 27.65% to $2.17 in the quarter versus EPS of $1.70 in the year-earlier quarter.

Revenue: Rose 15.14% to $23.35 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Marathon Petroleum Corporation reported adjusted EPS income of $2.17 per share. By that measure, the company beat the mean analyst estimate of $2.16. It beat the average revenue estimate of $19.8 billion.

Quoting Management: “MPLX is executing on its commitment to increase unitholder value,” said MPLX Chairman and Chief Executive Officer Gary R. Heminger. “We are pleased to increase our distribution so soon after MPLX`s formation and initial public offering. We believe our May 1 acquisition positions us to support distribution growth in the near term, and is consistent with our intent to provide an attractive growth profile over the long term.”

Key Stats (on next page)…

Revenue increased 12.72% from $20.71 billion in the previous quarter. EPS decreased 3.98% from $2.26 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $3.02 to a profit $3.13. For the current year, the average estimate has moved up from a profit of $9.73 to a profit of $10.70 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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