Skip to main content

Market Overview

Marathon Petroleum Tumbles To New 52-Week Low Following Q4 Print


Shares of Marathon Petroleum Corp (NYSE: MPC) lost more than 5 percent Wednesday morning and hit a new 52-week low of $37.82 after the company reported its fourth quarter results.

Marathon Petroleum said that it earned $0.79 per share in the fourth quarter on revenue $15.68 billion. Wall Street analysts were expecting the company to earn $0.69 per share on revenue of $16.35 billion

Marathon Petroleum stated its fourth quarter earnings fell to $187 million from $798 million in the same quarter a year ago. Earnings for the quarter included a pretax charge of $370 million to value inventories at lower of cost or market (LCM).

Earnings for the full fiscal year 2015 were $2.85 billion, or $5.26 per share, compared with $2.52 billion, or $4.39 per share in 2014.

"In addition to our strong financial and operational results, we also made tremendous progress on our strategic objectives of growing the more stable cash-flow segments of our business and enhancing our refining margins," said MPC President and Chief Executive Officer Gary R. Heminger. "Product price realizations and continued strong gasoline demand supported crack spreads in the fourth quarter. In addition, Speedway continued its strong performance during the fourth quarter, finishing the year with segment income of $673 million and nearly $1 billion of EBITDA [earnings before interest, taxes, depreciation and amortization]."

Heminger also added that "Speedway LLC, MPC's retail division, has substantially completed the planned conversions of its new East Coast and Southeast retail locations to the Speedway brand well ahead of schedule. "The acquisition of these retail locations has exceeded our expectations and has been a tremendous value driver for MPC."


Related Articles (MPC)

View Comments and Join the Discussion!

Posted-In: Commodity Prices Gary Heminger marathon petroleum oil stocks petroleumEarnings News Movers

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at