Marathon Petroleum Corporation Announces Strategic Actions to Enhance Shareholder Value

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Go back to Marathon Petroleum Corporation Announces Strategic Actions to Enhance Shareholder Value

Marathon Petroleum (MPC) Misses Q3 EPS Views; Announces Strategic Plans to Unlock Shareholder Value

October 27, 2016 6:35 AM EDT

Marathon Petroleum (NYSE: MPC) reported Q3 EPS of $0.58, $0.23 worse than the analyst estimate of $0.81. Revenue for the quarter came in at $16.46 billion versus the consensus estimate of $17.18 billion.

Marathon Petroleum also announced several initiatives to enhance shareholder value, primarily focused on unlocking value from its portfolio of high-quality midstream assets.

"Driving long-term value for our shareholders is a top priority. Since 2011, we have established a track record of taking sound, aggressive actions to create value. Our actions have enabled MPC to deliver a total shareholder return of approximately 140 percent,... More