Marathon Petroleum Corporation Q2 Profit Decreases, but beats estimates

(RTTNews) - Marathon Petroleum Corporation (MPC) announced a profit for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $2.23 billion, or $5.32 per share. This compares with $5.87 billion, or $10.95 per share, in last year's second quarter.

Excluding items, Marathon Petroleum Corporation reported adjusted earnings of $2.23 billion or $5.32 per share for the period.

Analysts on average had expected the company to earn $4.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 32.1% to $36.82 billion from $54.24 billion last year.

Marathon Petroleum Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $2.23 Bln. vs. $5.87 Bln. last year. -EPS (Q2): $5.32 vs. $10.95 last year. -Analyst Estimates: $4.62 -Revenue (Q2): $36.82 Bln vs. $54.24 Bln last year.