Marathon Petroleum: Q1 Earnings Snapshot
FINDLAY, Ohio (AP) _ Marathon Petroleum Corp. (MPC) on Tuesday reported a loss of $242 million in its first quarter.
On a per-share basis, the Findlay, Ohio-based company said it had a loss of 37 cents. Losses, adjusted for one-time gains and costs, were 20 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 72 cents per share.
The refiner posted revenue of $22.88 billion in the period.
Marathon Petroleum shares have climbed 38% since the beginning of the year, while the S&P’s 500 index has risen 12%. The stock has increased 95% in the last 12 months.