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AI brief of an SEC Form 8-K · Marathon Petroleum (MPC)

Marathon Petroleum Q2 profit falls to $1.5 billion as refining margins decline

Mixed Impact 3 of 5 earnings Written later

Marathon Petroleum reported second-quarter 2024 results in a press release furnished under Item 2.02. Net income attributable to MPC was $1.5 billion, or $4.33 per diluted share, down from $2.2 billion, or $5.32 per share, a year earlier, while sales and other operating revenues rose to $37.9 billion from $36.3 billion. Lower refining margins drove the decline, which matters to shareholders because earnings per share fell even as the company bought back $2.9 billion of its shares in the quarter.

Key points

  • Net income attributable to MPC: $1.5 billion, or $4.33 per diluted share, versus $2.2 billion, or $5.32, in Q2 2023
  • Adjusted net income: $1.4 billion, or $4.12 per diluted share, after excluding a $151 million gain on sale of assets
  • Adjusted EBITDA: $3.4 billion, versus $4.5 billion in Q2 2023; Refining & Marketing margin was $17.37 per barrel, versus $22.10
  • Returned $3.2 billion to shareholders in the quarter through $2.9 billion of share repurchases and $290 million of dividends; $5.8 billion remains under repurchase authorizations

The filing

CompanyMarathon Petroleum (MPC)
Form8-K, current report
Filed with the SECAug 6, 2024, 6:42 AM ET
Accession number0001510295-24-000065

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:21 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 06, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.