Marathon Petroleum (MPC) Tops Q3 EPS by 25c
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Marathon Petroleum Corp. Reports Third-Quarter Results
October 31, 2019 6:25 AM EDTFINDLAY, Ohio, Oct. 31, 2019 /PRNewswire/ --
Reported income of $1.1 billion, or $1.66 per diluted share; adjusted income of $1.1 billion, or $1.63 per diluted share Generated $2.8 billion of operating cash flow Returned $848 million to shareholders through dividends and share repurchases Realized synergies of $283 million Strong 98% refining utilization, and significant operational improvements on the West Coast Record retail merchandise sales; 33 consecutive quarters of same-store merchandise growth Announces intent to separate Speedway and formation of Midstream Special CommitteeMarathon Petroleum Corp.... More
Marathon Petroleum Provides Update On Strategic Review To Enhance Shareholder Value
October 31, 2019 6:20 AM EDTFINDLAY, Ohio, Oct. 31, 2019 /PRNewswire/ --Â Marathon Petroleum Corporation (NYSE: MPC) today announced its intention to separate Speedway into an independent, publicly traded company. Independent Speedway will consist of MPC's company-owned retail store operations with an expected 2019 EBITDA of approximately $1.5 billion. MPC will retain its direct-dealer business, with an expected 2019 EBITDA of approximately $0.4 billion, which is also included in the Retail segment as currently reported. As part of the Speedway separation process, MPC will also initiate a nationwide search for a Speedway CEO from both internal and external sources.
"Today's... More
