Marathon Petroleum (MPC) Misses Q3 EPS Views; Announces Strategic Plans to Unlock Shareholder Value
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Go back to Marathon Petroleum (MPC) Misses Q3 EPS Views; Announces Strategic Plans to Unlock Shareholder Value
October 27, 2016 6:33 AM EDT
Reported third-quarter earnings of $145 million, or $0.27 per diluted share Results include a $267 million impairment charge (or $0.31 per diluted share) related to the Sandpiper Pipeline project Announced strategic initiatives to enhance shareholder value
FINDLAY, Ohio, Oct. 27, 2016 - Marathon Petroleum Corporation (NYSE: MPC) today reported 2016 third-quarter earnings of $145 million, or $0.27 per diluted share, compared with $948 million, or $1.76 per diluted... More
October 27, 2016 6:31 AM EDT
FINDLAY, Ohio, Oct. 27, 2016 - Marathon Petroleum Corp. (NYSE: MPC) today 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, compared to S&P 500 returns of 82 percent. We have returned over $10 billion of capital to shareholders, including $7.4 billion... More
