Marathon Petroleum Q3 net income falls to $622 million from $3.3 billion
Marathon Petroleum reported third-quarter 2024 net income attributable to MPC of $622 million, or $1.87 per diluted share, down from $3.3 billion, or $8.28 per share, a year earlier. The decline was driven primarily by lower market crack spreads in its Refining & Marketing segment, though the board raised the quarterly dividend and approved an additional $5 billion share repurchase authorization.
Key points
- Adjusted EBITDA was $2.5 billion in Q3 2024, versus $5.7 billion in Q3 2023.
- Refining & Marketing margin was $14.35 per barrel, versus $26.16 per barrel a year earlier.
- Quarterly dividend increased to $0.91 per share, payable December 10, 2024, to holders of record on November 20, 2024.
- Company has $8.5 billion available under its share repurchase authorizations after the new $5 billion approval.
The filing
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 November 05, 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.