Marathon Reports First Quarter Results

Marathon Petroleum reported its first quarter numbers on Tuesday.

The oil refiner headquartered in Findlay reported a net income of $2.7 billion for the first quarter of 2023, which compares to a net income of $845 million for the first quarter of 2022.

“Our first-quarter results reflect strong operational and commercial execution across the company,” said President and Chief Executive Officer Michael J. Hennigan.

“The business generated $4.1 billion of net cash provided by operating activities in the first quarter. We continue to enhance our portfolio, including the Galveston Bay STAR project, which successfully commenced operations in April and the Martinez Renewables facility, which continues to progress Phase II.”

Hennigan added that the company returned more than $3.5 billion through share repurchases and dividends during the quarter.

Get more on Marathon’s first quarter results by clicking here.