Wall Street analysts forecast that Marathon Petroleum (MPC) will report quarterly earnings of $3.22 per share in its upcoming release, pointing to a year-over-year decline of 21.8%. It is anticipated that revenues will amount to $30.91 billion, exhibiting a decrease of 19.4% compared to the year-ago quarter.
The current level reflects an upward revision of 22.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Marathon Petroleum metrics that Wall Street analysts commonly model and monitor.
Analysts forecast 'Refining & Marketing - Refinery throughputs - Net refinery throughput' to reach 2,950.66 thousands of barrels of oil per day. Compared to the current estimate, the company reported 3,065.00 thousands of barrels of oil per day in the same quarter of the previous year.
Analysts predict that the 'Refining & Marketing - Refinery throughputs - Crude oil refined' will reach 2,778.04 thousands of barrels of oil per day. Compared to the current estimate, the company reported 2,867.00 thousands of barrels of oil per day in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Refining & Marketing - Refinery throughputs - Other charge and blendstocks' will likely reach 171.27 thousands of barrels of oil per day. Compared to the present estimate, the company reported 198.00 thousands of barrels of oil per day in the same quarter last year.
Analysts expect 'Adjusted EBITDA- Refining & Marketing' to come in at $1.49 billion. The estimate is in contrast to the year-ago figure of $1.97 billion.
It is projected by analysts that the 'Adjusted EBITDA- Midstream' will reach $1.67 billion. The estimate compares to the year-ago value of $1.62 billion.
View all Key Company Metrics for Marathon Petroleum here>>>
Over the past month, Marathon Petroleum shares have recorded returns of -2.1% versus the Zacks S&P 500 composite's +2.7% change. Based on its Zacks Rank #3 (Hold), MPC will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Marathon Petroleum Corporation (MPC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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