Marathon Petroleum Corporation Q3 Profit Decreases, But Beats Estimates

Marathon Petroleum Corporation

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(RTTNews) - Marathon Petroleum Corporation (MPC) reported a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $622 million, or $1.87 per share. This compares with $3.280 billion, or $8.28 per share, in last year's third quarter.

Excluding items, Marathon Petroleum Corporation reported adjusted earnings of $622 million or $1.87 per share for the period.

Analysts on average had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 14.9% to $35.373 billion from $41.583 billion last year.

Marathon Petroleum Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $622 Mln. vs. $3.280 Bln. last year. -EPS (Q3): $1.87 vs. $8.28 last year. -Revenue (Q3): $35.373 Bln vs. $41.583 Bln last year.