Marathon Petroleum Corp. Q1 2024 net income at $937mn ($2.58/share), completed maintenance, returned $2.5bn via share repurchases and dividends.

Marathon Petroleum Corp. reported Q1 2024 net income of $937mn ($2.58/share), with adjusted EBITDA of $3.3bn. The company completed its largest planned maintenance quarter, positioning it for summer demand. It returned $2.5bn via share repurchases and dividends, and increased share repurchase authorization by $5bn. Despite lower market crack spreads, throughputs, and planned turnaround activity, earnings exceeded estimates.

April 30, 2024
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