Marathon Petroleum's Profitability Resurgent: Blows Past Q2 Revenue And EPS Estimates
Portfolio Pulse from Lekha Gupta
Marathon Petroleum Corporation (NYSE:MPC) reported strong Q2 FY24 results, surpassing revenue and EPS estimates. Total revenues were $38.362 billion, and adjusted EPS was $4.12. The company returned $3.2 billion to shareholders and has $5.8 billion remaining under its share repurchase authorizations. MPLX LP (NYSE:MPLX), in which Marathon holds a majority interest, also beat earnings and sales estimates. Investors can gain exposure via iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) and VanEck Oil Refiners ETF (NYSE:CRAK).
August 06, 2024 | 12:51 pm
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POSITIVE IMPACT
Investors can gain exposure to Marathon Petroleum's strong performance via VanEck Oil Refiners ETF (CRAK).
CRAK holds a significant position in Marathon Petroleum, and the company's strong performance is likely to positively impact the ETF.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Investors can gain exposure to Marathon Petroleum's strong performance via iShares U.S. Oil & Gas Exploration & Production ETF (IEO).
IEO holds a significant position in Marathon Petroleum, and the company's strong performance is likely to positively impact the ETF.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Marathon Petroleum Corporation (MPC) reported strong Q2 FY24 results, surpassing revenue and EPS estimates. The company returned $3.2 billion to shareholders and has $5.8 billion remaining under its share repurchase authorizations.
MPC's strong financial performance and significant shareholder returns are likely to boost investor confidence, driving the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
MPLX LP, majority-owned by Marathon Petroleum, reported Q2 earnings per limited partner unit of $1.15 and sales of $3.05 billion, both beating consensus estimates.
MPLX's strong earnings and sales performance are likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80