Wall Street analysts expect Marathon Petroleum (MPC) to post quarterly earnings of $0.68 per share in its upcoming report, which indicates a year-over-year increase of 383.3%. Revenues are expected to be $30.35 billion, down 4.7% from the year-ago quarter.
Over the last 30 days, there has been an upward revision of 62.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
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 investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
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.
According to the collective judgment of analysts, 'Refining & Marketing - Refinery throughputs - Net refinery throughput' should come in at 2,740.00 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 2,849.00 thousands of barrels of oil per day.
Analysts forecast 'Refining & Marketing - Refinery throughputs - Crude oil refined' to reach 2,540.00 thousands of barrels of oil per day. Compared to the present estimate, the company reported 2,623.00 thousands of barrels of oil per day in the same quarter last year.
The consensus estimate for 'Adjusted EBITDA- Midstream' stands at $1.64 billion. The estimate is in contrast to the year-ago figure of $1.72 billion.
Based on the collective assessment of analysts, 'Adjusted EBITDA- Refining & Marketing' should arrive at $911.60 million. The estimate compares to the year-ago value of $489.00 million.
View all Key Company Metrics for Marathon Petroleum here>>>Over the past month, shares of Marathon Petroleum have returned +1.5% versus the Zacks S&P 500 composite's +12.2% change. Currently, MPC carries a Zacks Rank #1 (Strong Buy), suggesting that it may outperform. 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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