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Marathon Petroleum: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

FINDLAY, Ohio (AP) _ Marathon Petroleum Corp. (MPC) on Tuesday reported a loss of $9.23 billion in its first quarter.

The Findlay, Ohio-based company said it had a loss of $14.25 per share. Losses, adjusted for pretax expenses, were 16 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.

The refiner posted revenue of $24.08 billion in the period.

Marathon Petroleum shares have fallen 48% since the beginning of the year, while the Standard & Poor's 500 index has declined 12%. The stock has dropped 46% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MPC at https://www.zacks.com/ap/MPC