48 days ago • Posted by William Ramstein

Marathon petroleum up 18.5% since last earnings report

Midstream segment profitability was $974 million, 9.6% higher than the fourth quarter of 2019. Earnings were supported by stable, fee-based revenues, lower operating expenses, plus contribution from organic growth projects. Marathon Petroleum reported revenues of $18.2 billion. The company’s bottom line was favourably impacted by cost savings and stronger-than-expected performance from the Midstream segment. Precisely, operating income from the unit totaled $974 million. Source: Zacks.com