In its upcoming report, Marathon Petroleum (MPC) is predicted by Wall Street analysts to post quarterly loss of $0.63 per share, reflecting a decline of 122.7% compared to the same period last year. Revenues are forecasted to be $30.09 billion, representing a year-over-year decrease of 9.4%.
The consensus EPS estimate for the quarter has been revised 4.1% lower 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 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.
Given this perspective, it's time to examine the average forecasts of specific Marathon Petroleum metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Refining & Marketing - Refinery throughputs - Net refinery throughput' at 2,765.67 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 2664 millions of barrels of oil per day.
It is projected by analysts that the 'Refining & Marketing - Refinery throughputs - Crude oil refined' will reach 2,513.68 millions of barrels of oil per day. The estimate compares to the year-ago value of 2427 millions of barrels of oil per day.
Analysts forecast 'Refining & Marketing - Refinery throughputs - Other charge and blendstocks' to reach 250.81 millions of barrels of oil per day. Compared to the current estimate, the company reported 237 millions of barrels of oil per day in the same quarter of the previous year.
The consensus estimate for 'Income from operations- Refining & Marketing' stands at -$561.74 million. The estimate compares to the year-ago value of $766 million.
Analysts expect 'Income from operations- Midstream' to come in at $1.34 billion. The estimate is in contrast to the year-ago figure of $1.25 billion.
The combined assessment of analysts suggests that 'Adjusted EBITDA- Refining & Marketing' will likely reach $286.27 million. The estimate compares to the year-ago value of $1.87 billion.
According to the collective judgment of analysts, 'Adjusted EBITDA- Midstream' should come in at $1.68 billion. Compared to the present estimate, the company reported $1.59 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 +7.1% versus the Zacks S&P 500 composite's -0.5% 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 >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Marathon Petroleum Corporation (MPC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
