For the quarter ended September 2023, Marathon Petroleum (MPC) reported revenue of $41.58 billion, down 12% over the same period last year. EPS came in at $8.14, compared to $7.81 in the year-ago quarter.
The reported revenue represents a surprise of +17.95% over the Zacks Consensus Estimate of $35.26 billion. With the consensus EPS estimate being $7.79, the EPS surprise was +4.49%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company’s financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock’s price performance.
Here is how Marathon Petroleum performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Refining & Marketing – Crude oil refined Throughput: 2773 millions of barrels of oil per day compared to the 2718.67 millions of barrels of oil per day average estimate based on three analysts.
- Refining & Marketing – Net refinery throughput: 2959 millions of barrels of oil per day compared to the 2926.55 millions of barrels of oil per day average estimate based on two analysts.
- Refinery Throughputs Per Day – Other Charge & Blendstocks: 186 millions of barrels of oil versus 169.98 millions of barrels of oil estimated by two analysts on average.
- Total revenues- Midstream: $2.73 billion versus the two-analyst average estimate of $2.48 billion. The reported number represents a year-over-year change of +90.4%.
- Total revenues- Elimination of intersegment revenues: -$1.46 billion versus -$1.22 billion estimated by two analysts on average.
- Total revenues- Refining & Marketing: $39.66 billion versus $35.02 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -10.6% change.
- Corporate and other unallocated items: -$246 million versus -$176.65 million estimated by four analysts on average.
- Income from operations- Midstream: $1.14 billion versus the three-analyst average estimate of $1.23 billion.
- Income from operations- Refining & Marketing: $3.76 billion compared to the $3.55 billion average estimate based on three analysts.
- Refining & Marketing- EBITDA: $4.37 billion compared to the $3.89 billion average estimate based on two analysts.
- Midstream Segment- Segment EBITDA: $1.54 billion versus $1.42 billion estimated by two analysts on average.
View all Key Company Metrics for Marathon Petroleum here>>>
Shares of Marathon Petroleum have returned -2.1% over the past month versus the Zacks S&P 500 composite’s -2.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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