Marathon Petroleum Beats Consensus Estimates with Q1 Profit Surge
Marathon Petroleum Corporation (NYSE:MPC) reported strong Q1 earnings with profit per share coming in $0.59 above expectations, driven by robust fuel demand and limited crude supplies. The company recorded earnings of $6.09 per share, surpassing analysts’ estimates of $5.50. The revenue for the quarter stood at $35.07 billion, exceeding the consensus forecast of $33.19 billion.
The firm attributed its performance to strong operational and commercial execution across the organization, as well as rising demand for refined products, including jet fuel. MPC President and CEO Michael Hennigan said the business had generated $4.1 billion of net cash provided by operating activities in Q1, and the company would continue to improve its portfolio. Shares of Marathon are trading at $122.36 premarket, a decrease of 0.08% from the previous close.