Marathon Petroleum (MPC) Tops Q2 EPS by 24c, Revenues Beat

Marathon Petroleum (NYSE: MPC) reported Q2 EPS of $2.27, $0.24 better than the analyst estimate of $2.03. Revenue for the quarter came in at $22.45 million versus the consensus estimate of $21.59 million.

"We delivered an outstanding quarter," said Gary R. Heminger, chairman and chief executive officer. "Our ability to execute and capture opportunities in a volatile commodity environment demonstrated the power of our integrated business model and drove extraordinary results. Looking forward, we remain very optimistic about the prospects for our business given strong global demand, wider crude differentials, and the changing dynamics of the low-sulfur fuel market.

"Our team has made significant progress towards completing the combination between MPC and Andeavor. There are tremendous benefits from merging these two businesses and we remain confident in our ability to generate incremental cash flow and create substantial long-term value for our shareholders."

For earnings history and earnings-related data on Marathon Petroleum (MPC) click here.

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