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Marathon Petroleum (MPC) Q2 Earnings, Revenue Beat Estimate

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An Earnings Beat: Leading downstream operator Marathon Petroleum Corporation (MPC - Free Report) reported earnings per share of $2.27, higher than the Zacks Consensus Estimate of $1.98.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter rose 2.1% over the last seven days.

Coming to earnings surprise history, the company has a mixed record: its beaten estimates in two of the last four quarters resulting, as shown in the chart below:

Revenue Came in Higher than Expected: Marathon Petroleum posted revenues of $22,445 million, above the Zacks Consensus Estimate of $20,278 million.

Key Stats: Operating profit from the Refining & Marketing segment was $1,025 million compared with $562 million in the year-ago quarter.

Total refined product sales volumes were 2,404 thousand barrels per day (mbpd), up from the 2,370 mbpd in the year-ago quarter. Moreover, throughput edged up from 2,023 mbpd in the year-ago quarter to 2,038 mbpd.

Income from the Speedway retail stations totaled $159 million, 33.2% below the year-ago period.

Finally, Midstream segment profitability was $617 million, up from $332 million in the second quarter of 2017.

Zacks Rank: Currently, Marathon Petroleum carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

Check back later for our full write up on this Marathon Petroleum earnings report later!

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