Marathon Petroleum (NYSE:MPC) is scheduled to announce Q3 earnings results on Tuesday, November 1st, before market open.
The consensus EPS Estimate is $7.03 vs. $0.73 year ago and the consensus Revenue Estimate is $40.77B (+25.0% Y/Y).
Over the last 2 years, MPC has beaten EPS estimates 100% of the time and has beaten revenue estimates 75% of the time.
Phillips 66 (NYSE:PSX) is scheduled to announce Q3 results on Tuesday, Nov. 1, before market open.
Consensus EPS estimate is $5.03 (+58.2% Y/Y) and consensus revenue estimate is $40.68B.
Over the last 2 years, PSX has beaten EPS estimates 88% of the time and revenue estimates 38% of the time.
Over the last 3 months, EPS estimates have seen 7 upward revisions and 1 downward. Revenue estimates have seen 1 upward revision and 5 downward.
Uncle demented Joe won't like these profits!
Refiners MPC ans PSX report tomorrow
Re: Refiners MPC ans PSX report tomorrow
MPC with a beat
Marathon Petroleum (NYSE:MPC) +1.5% pre-market Tuesday after easily beating expectations for Q3 adjusted earnings and revenues, as demand for fuel and refined products surged while supplies were tight.
The company also raised its quarterly dividend by 29% to $0.75/share from $0.58/share, representing a 2.64% annual yield based on Monday's closing price of $113.62, up from slightly more than 2%.
Q3 net income soared more than six-fold to $4.48B, or $9.06/share, from $694M, or $1.09/share, in the year-ago quarter, and revenues jumped 45% to $47.24 from $32.32B; adjusted EBITDA jumped to $6.8B from $2.4B a year earlier.
Q3 adjusted EBITDA for the refining and marketing segment soared to $5.5B from $1.2B in the year-ago quarter; R&M margin was $30.21/bbl vs. $14.51/bbl in the year-earlier quarter, and crude capacity utilization was 98%, resulting in total throughput of 3M bbl/day, compared to 93% crude capacity utilization in Q3 2021, which resulted in total throughput of 2.8M bbl/day.
Q3 refining operating costs were $5.63/bbl vs. $4.97/bbl for the year-ago quarter, with most of the increase driven by higher energy costs.
Marathon Petroleum (NYSE:MPC) +1.5% pre-market Tuesday after easily beating expectations for Q3 adjusted earnings and revenues, as demand for fuel and refined products surged while supplies were tight.
The company also raised its quarterly dividend by 29% to $0.75/share from $0.58/share, representing a 2.64% annual yield based on Monday's closing price of $113.62, up from slightly more than 2%.
Q3 net income soared more than six-fold to $4.48B, or $9.06/share, from $694M, or $1.09/share, in the year-ago quarter, and revenues jumped 45% to $47.24 from $32.32B; adjusted EBITDA jumped to $6.8B from $2.4B a year earlier.
Q3 adjusted EBITDA for the refining and marketing segment soared to $5.5B from $1.2B in the year-ago quarter; R&M margin was $30.21/bbl vs. $14.51/bbl in the year-earlier quarter, and crude capacity utilization was 98%, resulting in total throughput of 3M bbl/day, compared to 93% crude capacity utilization in Q3 2021, which resulted in total throughput of 2.8M bbl/day.
Q3 refining operating costs were $5.63/bbl vs. $4.97/bbl for the year-ago quarter, with most of the increase driven by higher energy costs.
Re: Refiners MPC ans PSX report tomorrow
PSX with a beat
Phillips 66 (PSX) said it returned $1.2B to shareholders through dividends and share repurchases during the quarter, funding another $694M in share buybacks during Q3 after executing $66M in repurchases during Q2.
Q3 net earnings skyrocketed by more than 12-fold to $5.4B, or $11.16/share, from $402M, or $0.91/share, in the year-earlier quarter.
Q3 adjusted pre-tax income for refining fell to $2.8B from $3.1B in Q2, primarily due to a 6% drop in realized margins to $26.58/bbl from $28.31/bbl in Q2, partially offset by higher volumes; a year ago, Phillips' (PSX) refining margins was just $8.57/bbl.
Phillips 66 (PSX) said it returned $1.2B to shareholders through dividends and share repurchases during the quarter, funding another $694M in share buybacks during Q3 after executing $66M in repurchases during Q2.
Q3 net earnings skyrocketed by more than 12-fold to $5.4B, or $11.16/share, from $402M, or $0.91/share, in the year-earlier quarter.
Q3 adjusted pre-tax income for refining fell to $2.8B from $3.1B in Q2, primarily due to a 6% drop in realized margins to $26.58/bbl from $28.31/bbl in Q2, partially offset by higher volumes; a year ago, Phillips' (PSX) refining margins was just $8.57/bbl.
Re: Refiners MPC ans PSX report tomorrow
Valero up 27% in 6 weeks. Any notion of which refiner is the best play on diesel?
Re: Refiners MPC ans PSX report tomorrow
Probably VLO but I don't follow too closely
I'm out of them at the moment due to large gains
DINO,VLO, MPC & MPC all look good too me. DINO is doing buybacks.
Here is the latest crack spreads 35.44
Backed off a bit..
https://www.energystockchannel.com/3-2-1-crack-spread/
I'm out of them at the moment due to large gains
DINO,VLO, MPC & MPC all look good too me. DINO is doing buybacks.
Here is the latest crack spreads 35.44
Backed off a bit..
https://www.energystockchannel.com/3-2-1-crack-spread/
Re: Refiners MPC ans PSX report tomorrow
Diesel shortage article in WSJ today. VLO, MPC and XOM listed as major players.
https://www.wsj.com/articles/diesel-hit ... 1668549062
https://www.wsj.com/articles/diesel-hit ... 1668549062