Marathon Pete Corp Stock Price, News & Analysis

Marathon Petroleum Corp. (NYSE: MPC) has announced its plans to release its 2024 third-quarter financial results on November 5, 2024. The company will host a conference call at 11 a.m. EST on the same day to discuss the results. Interested parties can access the conference call through MPC's website at www.marathonpetroleum.com. The company will also make available a replay of the webcast on its website for two weeks following the call. Financial information, including the earnings release and other investor-related material, will be accessible online before the conference call and webcast on the company's website.

Anne Bertelsmann, a principal process safety engineer at Marathon Petroleum (MPC), has been recognized with the Distinguished Examination Service Award by the National Council of Examiners for Engineering and Surveying (NCEES). Born in Zimbabwe and raised in Germany, Bertelsmann's journey led her to the U.S. for graduate studies, where she eventually joined MPC's Galveston Bay refinery.

At MPC, Bertelsmann has played a important role in developing the company's Layer of Protection Analysis (LOPA) program and currently serves as the Process Hazard Analysis (PHA) and LOPA Coordinator. Her expertise and dedication to advancing engineering licensure have been praised by NCEES, where she has held various leadership positions for the past 15 years.

Bertelsmann's commitment to diversity in engineering and her unique life experiences, including witnessing the fall of the Berlin Wall, have shaped her inclusive outlook on problem-solving and team dynamics.

La Nube, a new children's museum in El Paso, Texas, has opened its doors, offering 70,000 square-feet of interactive spaces focused on STEAM (Science, Technology, Engineering, Art, and Math) education. The museum features nine themed learning zones, including 'Flow', which was made possible by a foundational investment from Marathon Petroleum (MPC). La Nube incorporates advanced technology, such as Discovery Bands that allow children to track their learning progress. The museum resulted from a public-private collaboration, with MPC playing a key role in supporting project funding and future programs. This initiative aims to inspire and motivate young El Pasoans to explore various scientific concepts through hands-on experiences.

Marathon Pipe Line (MPL) has donated $20,000 to Riverbend Family Ministries (RFM) in Wood River, Illinois. This donation aims to support children, individuals, and families in Madison County who have experienced trauma due to violence, addiction, poverty, and homelessness. RFM, a collaboration of nine nonprofit organizations, provides essential resources including rental assistance, job coaching, and social service navigation.

MPL Heartland Area Manager Jayson Nohl emphasized that the partnership with RFM aligns with MPL's goal of enhancing the lives of those less fortunate. RFM Fund Development Director Rachael Craddick expressed gratitude for MPL's support, highlighting the impact of corporate philanthropy on empowering individuals and families in need.

Marathon Petroleum (NYSE:MPC) and MPLX LP (NYSE:MPLX) have released two joint reports detailing their sustainability efforts. The Sustainability Report and Perspectives on Climate-Related Scenarios report highlight the companies' progress in reducing greenhouse gas emissions, lowering fuel carbon intensity, and strengthening safety culture.

Key achievements include:

• MPC is extending its Scope 1 and 2 GHG emissions intensity reduction target to 38% by 2035 from 2014 levels
• MPLX has achieved a 57% reduction in methane emissions intensity by the end of 2023
• Both companies are focusing on safety, community engagement, and workforce development

CEO Maryann Mannen emphasizes the critical role of sustainability in the companies' long-term success and their commitment to becoming better organizations.

MPLX LP reported strong financial results for Q2 2024, with net income of $1.2 billion and adjusted EBITDA of $1.7 billion. The company generated $1.6 billion in operating cash flow and $1.4 billion in distributable cash flow. MPLX returned $949 million to unitholders, including a quarterly distribution of $0.85 per unit. The company is progressing its Permian growth strategy, with the Preakness II processing plant starting operations in July. MPLX also increased ownership in the BANGL NGL pipeline and announced the FID of the Blackcomb natural gas pipeline. The Logistics & Storage segment saw an 8% increase in adjusted EBITDA, while the Gathering & Processing segment reported higher volumes across its operations.

Marathon Petroleum Corp. (NYSE: MPC) reported second-quarter 2024 results with net income of $1.5 billion, or $4.33 per diluted share. Adjusted net income was $1.4 billion, or $4.12 per diluted share. Adjusted EBITDA reached $3.4 billion, with net cash from operations at $3.2 billion. The company returned $3.2 billion to shareholders through $2.9 billion in share repurchases and $290 million in dividends. Refining & Marketing segment adjusted EBITDA was $2.0 billion, while Midstream segment adjusted EBITDA increased 6% year-over-year to $1.6 billion. MPC's cash position stood at $8.5 billion, with $5 billion available on its credit facility. The company continues to focus on high-return investments and growth projects in the Permian and Marcellus basins.

Marathon Petroleum Corp. (NYSE: MPC) has announced a quarterly dividend of $0.825 per share on common stock. The dividend will be payable on September 10, 2024, to shareholders of record as of the close of business on August 21, 2024. This announcement demonstrates MPC's commitment to returning value to its shareholders through regular dividend payments. The declaration of a dividend is often seen as a positive sign of a company's financial health and confidence in its future prospects.

Marathon Petroleum 's (MPC) Dickinson renewable diesel facility responded to a call for help from the Association to Meet Emergency Needs (AMEN) food pantry in Dickinson, North Dakota. Employee volunteers gathered thousands of dollars worth of food and essential goods, restocking the pantry's shelves and assisting clients. The initiative included:

1. A $1,000 donation of nonperishable goods from Facility Manager Nick Bear
2. Over 600 pounds of food and goods from a site food drive
3. $1,300 in cash donations
4. A formal presentation of a previously approved $10,000 grant from the facility

Volunteers gained valuable experience interacting with pantry clients and learning about the pantry's impact on the community. The effort showcased MPC's commitment to local community support and employee engagement in charitable activities.