Marathon Petroleum reports Q1 EPS $2.58, consensus $2.42

Reports Q1 revenue $33.21B, consensus $32.01B. “In the first quarter, our team safely and successfully completed the largest planned maintenance quarter in MPC history, including at four of our largest refineries,” said CEO Michael Hennigan. “This positions us to meet the high demand of summer travel season. Additionally, we are advancing our midstream growth strategy through disciplined organic investments and targeted bolt-on acquisitions. This quarter we returned $2.5 billion through share repurchases and dividends, bringing MPC’s total capital returned to $35 billion since May 2021. Today, we announced a $5 billion increase to our share repurchase authorization, further demonstrating our commitment to return capital.”