Marathon Petroleum Corp.
Marathon Petroleum Reports Q4 and Full-Year 2023 Financial Results
Summary
Marathon Petroleum Corporation (MPC) reported financial results for Q4 and full-year 2023. For Q4 2023, MPC reported net income attributable to MPC of $1.5 billion, or $3.84 per diluted share, and adjusted net income of $1.5 billion, or $3.98 per adjusted diluted share. For the full year 2023, MPC reported net income attributable to MPC of $9.7 billion, or $23.63 per diluted share, and adjusted net income of $9.7 billion, or $23.63 per adjusted diluted share. The company also provided guidance for 2024, including a standalone capital spending outlook of $1.25 billion.
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About Marathon Petroleum Corp.
Marathon Petroleum Corp. is a leading integrated downstream energy company within the United States. Its primary function is to refine crude oil and distribute petroleum products, playing a pivotal role in the energy sector. Marathon Petroleum operates one of the largest refining systems in the nation, with refineries strategically located across the country, providing widespread access to key markets. The company is known for producing a variety of petroleum products, including gasoline, diesel, aviation fuels, and petrochemicals, which are essential to various sectors such as transportation, industrial, and residential markets. Marathon Petrol's comprehensive logistics network, including pipelines, terminals, and marine fleets, supports its extensive distribution capabilities. Moreover, its retail operations through the Speedway brand further enhance its market presence. Marathon Petroleum Corp. is significant in the energy market, contributing to the stability and efficiency of fuel supply and consumption patterns, thus impacting both local and national economic landscapes.
Official SEC Documents
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