Marathon Petroleum posted a $622 million profit in Q3, down 82%, and announced a $5 billion buyback.

Marathon Petroleum reported a third-quarter profit of $622 million, despite an 82% drop from last year's $3.3 billion. The company's refining throughput exceeded expectations, with a capacity utilization of around 94%. Marathon announced a $5 billion share repurchase program, totaling $8.5 billion available. Although refining margins declined, the company returned $3 billion to shareholders through repurchases and dividends, emphasizing its commitment to capital return.

November 04, 2024
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