Marathon Petroleum Corporation Q3 Profit Increases, beats estimates

(RTTNews) - Marathon Petroleum Corporation (MPC) reported earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $4.48 billion, or $9.06 per share. This compares with $694 million, or $1.09 per share, in last year's third quarter.

Excluding items, Marathon Petroleum Corporation reported adjusted earnings of $3.86 billion or $7.81 per share for the period.

Analysts on average had expected the company to earn $6.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 44.9% to $47.24 billion from $32.61 billion last year.

Marathon Petroleum Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $4.48 Bln. vs. $694 Mln. last year. -EPS (Q3): $9.06 vs. $1.09 last year. -Analyst Estimate: $6.95 -Revenue (Q3): $47.24 Bln vs. $32.61 Bln last year.