Marathon Petroleum (MPC) Agrees to Sell Speedway to 7-Eleven for $21B

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Go back to Marathon Petroleum (MPC) Agrees to Sell Speedway to 7-Eleven for $21B

Marathon Petroleum (MPC) Tops Q2 EPS by 42c, Revenues Miss

August 3, 2020 6:41 AM EDT

Marathon Petroleum (NYSE: MPC) reported Q2 EPS of ($1.33), $0.42 better than the analyst estimate of ($1.75). Revenue for the quarter came in at $15.2 billion versus the consensus estimate of $18.88 billion.

Reported second-quarter income of $9 million, or $0.01 per diluted share, including net pre-tax benefit of $1.4 billion; adjusted loss of $868 million, or $(1.33) per diluted shareAnnounced agreement to sell Speedway in $21 billion all-cash transaction; estimated after-tax proceeds of $16.5 billion... More