Marathon Petroleum Corporation Q4 Profit Decreases, but beats estimates

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

The company's earnings totaled $1.45 billion, or $3.84 per share. This compares with $3.32 billion, or $7.09 per share, in last year's fourth quarter.

Excluding items, Marathon Petroleum Corporation reported adjusted earnings of $1.51 billion or $3.98 per share for the period.

Analysts on average had expected the company to earn $2.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.2% to $36.82 billion from $40.09 billion last year.

Marathon Petroleum Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $1.45 Bln. vs. $3.32 Bln. last year. -EPS (Q4): $3.84 vs. $7.09 last year. -Analyst Estimates: $2.21 -Revenue (Q4): $36.82 Bln vs. $40.09 Bln last year.