FTXN - What's Going On With Marathon Petroleum Shares Today? | Benzinga
Marathon Petroleum Corporation (NYSE:MPC) shares are trading lower after it reported first-quarter FY24 results.
Revenue and other income of $33.211 billion, beating the consensus of $32.011 billion. Adjusted EBITDA was $3.26 billion for the quarter, compared with $5.22 billion in prior year quarter.
Refining operating costs per barrel were $6.14 versus $5.68 a year ago. Refining & Marketing refined product sales volume for the quarter was 3,277 mbpd (vs. 3,352 a year ago); Crude oil capacity utilization was 82% vs. 89% in the prior-year quarter.
Refining & Marketing segment adjusted EBITDA declined sharply to $1.874 billion from $3.853 billion a year ago due to lower market crack spreads and throughputs.
Adjusted EPS for the ...