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

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

Marathon Petroleum Corp. Reports Second-Quarter 2020 Results

August 3, 2020 6:40 AM EDT

FINDLAY, Ohio, Aug. 3, 2020 /PRNewswire/ --

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 share Announced agreement to sell Speedway in $21 billion all-cash transaction; estimated after-tax proceeds of $16.5 billion expected to be used to both strengthen the balance sheet and return capital to shareholders Indefinitely idling Gallup and Martinez refineries; evaluating strategic repositioning of Martinez to renewable diesel facility On track to deliver $1.4 billion of capital spending and at least $950... More