Every material Form 8-K Marathon Petroleum filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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.
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.
Marathon Petroleum expanded its board to fifteen members and elected Jeffrey C. Campbell as a director, effective November 11, 2024. Campbell will also sit on the Audit Committee and the Compensation and Organization Development Committee, and the filing says non-employee director annual equity retainers were raised to $185,000 per year. The filing does not describe Campbell's background, and the change is administrative with no stated effect on company financial results.
Board increased from prior size to fifteen members on October 30, 2024
Jeffrey C. Campbell elected director, effective November 11, 2024
Campbell appointed to Audit Committee and Compensation and Organization Development Committee
Non-employee director annual equity retainer increased to $185,000 per year
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.
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
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Marathon Petroleum filing is on SEC EDGAR ↗. 8-K briefs of other companies →