Analysts on Wall Street project that Marathon Petroleum (MPC) will announce quarterly earnings of $2.86 per share in its forthcoming report, representing an increase of 52.9% year over year. Revenues are projected to reach $30.82 billion, declining 12.9% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 83.9% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Marathon Petroleum metrics that are commonly monitored and projected by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Refining & Marketing - Refinery throughputs - Net refinery throughput' of 2,939.48 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 2,991.00 thousands of barrels of oil per day.
Analysts' assessment points toward 'Refining & Marketing - Refinery throughputs - Crude oil refined' reaching 2,729.72 thousands of barrels of oil per day. Compared to the present estimate, the company reported 2,776.00 thousands of barrels of oil per day in the same quarter last year.
Analysts predict that the 'Refining & Marketing - Refinery throughputs - Other charge and blendstocks' will reach 208.88 thousands of barrels of oil per day. Compared to the present estimate, the company reported 215.00 thousands of barrels of oil per day in the same quarter last year.
The combined assessment of analysts suggests that 'Adjusted EBITDA- Midstream' will likely reach $1.67 billion. The estimate compares to the year-ago value of $1.63 billion.
According to the collective judgment of analysts, 'Adjusted EBITDA- Refining & Marketing' should come in at $1.72 billion. Compared to the present estimate, the company reported $1.05 billion in the same quarter last year.
View all Key Company Metrics for Marathon Petroleum here>>>
Over the past month, shares of Marathon Petroleum have returned +1.8% versus the Zacks S&P 500 composite's +3.6% change. Currently, MPC carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. 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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