Marathon Petroleum (NYSE: MPC) reported Q1 EPS of ($0.16), $0.15 better than the analyst estimate of ($0.31). Revenue for the quarter came in at $24.08 billion versus the consensus estimate of $23.91 billion.

• Reported first-quarter loss of $9.2 billion, or $(14.25) per diluted share, including pre-tax non-cash charges of $12.4 billion; adjusted loss of $106 million, or $(0.16) per diluted share
• Cash used in operations of $768 million; cash provided by operations of $1.3 billion, excluding working capital changes
• Announced business response to COVID-19 environment, including $1.4 billion of capital and $950 million of expense reductions
• Enhanced liquidity by $3.5 billion through senior notes issuance and additional revolver

"Recent global events, including the COVID-19 pandemic and oil price tensions, have been disruptive to the personal and professional lives of many and significantly impacted demand for the transportation fuels we manufacture," said President and Chief Executive Officer Michael J. Hennigan. "In addressing these challenges, first and foremost, we are focused on the health and safety of our employees, our customers, and the communities where we operate. We are grateful for everyone working on the front lines of this pandemic and are proud to do our part by contributing supplies to those affected by this crisis. These are unprecedented times, leading us to make prudent tactical changes for 2020. We believe these proactive steps will help maintain our financial strength, support our investment-grade credit rating, and enhance the through-cycle resiliency of our business."

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