Marathon Petroleum Q3: Earnings Beat, Strong Cash Generation & More
Portfolio Pulse from Lekha Gupta
Marathon Petroleum Corp (MPC) reported Q3 FY23 revenue of $41.58 billion, beating the consensus of $40.02 billion. Adjusted EBITDA was $5.71 billion, and adjusted EPS was $8.14, above the consensus of $7.77. The company had $13.1 billion of cash and equivalents, and $5 billion available on its bank revolving credit facility. MPC raised the quarterly dividend by 10% and approved an additional $5 billion share repurchase authorization. MPLX LP (MPLX) raised distribution by 10%, with MPC expected to receive an incremental $200 million annually.
October 31, 2023 | 3:03 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Marathon Petroleum reported strong Q3 FY23 results, beating revenue and EPS estimates. The company also raised its dividend and approved an additional $5 billion share repurchase, indicating a strong financial position.
Marathon Petroleum's strong Q3 results, increased dividend, and additional share repurchase authorization indicate a strong financial position and confidence in future performance. This is likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
MPLX LP raised its distribution by 10%, which is expected to result in an incremental $200 million annually for Marathon Petroleum.
The increase in MPLX LP's distribution is expected to result in additional annual income for Marathon Petroleum, which could have a positive impact on both companies' stocks in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50