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Marathon Petroleum's Profitability Resurgent: Blows Past Q2 Revenue And EPS Estimates

Marathon Petroleum Corporation (NYSE:MPC) shares are trading higher after its second-quarter FY24 results. Total revenues and other income of $38.362 billion topped the consensus of $35.083 billion. Adjusted EBITDA was $3.39 billion for the quarter, compared with $4.53 billion in prior year quarter. Refining operating costs per barrel were $4.97 versus $5.15 a year ago.  Refining & Marketing refined product sales volume for the quarter was 3,742 mbpd (vs. 3,581 mbpd a year ago); Crude oil capacity utilization was 97% vs. 93% in the prior-year quarter.   Refining & Marketing segment adjusted EBITDA declined to $1.972 billion from $3.163 billion a year ago due to lower ...