Marathon Petroleum's Q2 Profit Soars with $1.5 Billion Net Income

Marathon Petroleum Corp. [MPC] reported a net income of $1.5 billion for the second quarter of 2024, ending on June 30. This figure marks a decrease from the net income of $2.2 billion reported in the previous quarter. The company's performance in Q2 reflects the ongoing financial dynamics within the energy sector.

The company, headquartered in Findlay, Ohio, reported to SEC in an 8-K filing $4.33 earnings per share in the quarter, compared to $5.32 in the previous quarter.

Marathon Petroleum Corp., a key player in the Energy sector, reported revenue of $38.36 billion. Compared to the previous quarter, this revenue figure indicates a 4.16% increase. The company's performance in the current reporting period reflects its position within the energy industry and its market dynamics.

In comparison to the same quarter in the previous year, Marathon Petroleum Corp. observed a notable decrease in revenue, dropping from $71.57 billion to $38.36 billion. This decline signifies a substantial 46.50% reduction in revenue year over year.