FINDLAY, Ohio -- Speedway LLC had one of its best quarters ever, making it a “very strong segment” for Marathon Petroleum Corp. (MPC), said Gary Heminger, chairman and CEO, on the company’s Oct. 26 earnings call.
Overall, Marathon Petroleum Corp. reported 2017 third-quarter earnings of $903 million, compared with $145 million in third-quarter 2016, an increase of nearly four times and $758 million. "Illustrating the substantial earnings power of our integrated business model," the huge increase over the third quarter of last year was driven mainly by fuel volumes, executives said.
Total income from operations was $1.58 billion in third-quarter 2017, compared with $435 million in third-quarter 2016.
"All segments of the business reported strong results in the quarter," said Heminger. “In addition to our continued focus on driving strong operational and financial results, MPC is delivering on the strategic actions designed to further enhance shareholder value over the long term."
Here are some highlights from the quarter …