MPC -- 3Q24 Earnings

Locator: 48714MPC.

Link here. 

Marathon Petroleum Corp beat the analyst consensus for its third-quarter earnings by a mile, despite the expected slump in profits due to plunging refining margins.

All U.S. refiners were expected to report much lower profits for the third quarter compared to a year earlier, as refining margins slumped to multi-year lows amid tepid fuel demand and increased global fuel supply.

On Tuesday, Marathon Petroleum joined the other major U.S. refiners, Valero Energy and Phillips 66, in reporting better-than-expected Q3 earnings even if profits significantly lagged last year’s record results.