Refiner Marathon Petroleum Corp. (MPC) announced a rise in first-quarter earnings to $725 million, or $2.17 per share, from the prior year's $596 million, or $1.70 per share. On average, 18 analysts polled by Thomson Reuters expected earnings per share of $2.16 for the quarter. Analysts' estimates typically exclude one-time items.
Sales and other operating revenues, including consumer excise taxes, were $23.33 billion for the quarter, an increase from $20.26 billion in the first quarter of 2012. Analysts estimated revenues of $19.80 billion for the quarter.
The company said its quarterly performance largely reflects the strategic expansion and optimization of its refining system along with favorable market conditions.
As MPLX LP (MPLX) announced today, it would acquire an additional 5 percent interest in MPLX Pipe Line Holdings LP from a subsidiary of MPC for $100 million on May 1.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.