Investing.com - Marathon Petroleum (NYSE:MPC) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Marathon Petroleum announced earnings per share of $-0.16 on revenue of $24.08B. Analysts polled by Investing.com anticipated EPS of $-0.26 on revenue of $26.24B. That with comparison to EPS of $-0.09 on revenue of $28.62B in the same period a year before. Marathon Petroleum had reported EPS of $1.56 on revenue of $31.38B in the previous quarter. Analysts are expecting EPS of $-1.23 and revenue of $21.62B in the upcoming quarter.
Marathon Petroleum shares are down 47.67% from the beginning of the year , still down 54.73% from its 52 week high of $69.65 set on October 29, 2019. They are under-performing the S&P 500 which is down 12.39% year to date.
Marathon Petroleum follows other major Energy sector earnings this month
Marathon Petroleum's report follows an earnings beat by Exxon Mobil on Friday, who reported EPS of $0.53 on revenue of $56.16B, compared to forecasts EPS of $0.01 on revenue of $53.53B.
Chevron had beat expectations on Friday with first quarter EPS of $1.29 on revenue of $31.5B, compared to forecast for EPS of $0.65 on revenue of $29.14B.
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