Marathon Petroleum reported its first-quarter numbers on Tuesday.
The company says its net income for Q1 was $845 million, which compares with a net loss of $242 million for the first quarter of 2021.
The company’s adjusted earnings for the first quarter was $2.6 billion, compared with $1.6 billion for the first quarter of 2021.
President and CEO Michael Hennigan says the company’s first-quarter results reflect their ability to execute on their strategic pillars in the current market conditions.
“This quarter we advanced our low carbon strategy with the announcement of our intent to form a joint venture with Neste at our Martinez Renewable Fuels Facility and a 15% Scope 3 absolute GHG emission reduction target. We have now completed approximately $8 billion of MPC share repurchases since the inception of our $10 billion return of capital program.”
Get more on Marathon’s first-quarter results by clicking here.
Marathon Petroleum Corporation is a leading, integrated, downstream energy company headquartered in Findlay.