Marathon Petroleum Corporation Q3 Profit Decreases, but beats estimates

(RTTNews) - Marathon Petroleum Corporation (MPC) reported a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $3.28 billion, or $8.28 per share. This compares with $4.48 billion, or $9.06 per share, in last year's third quarter.

Excluding items, Marathon Petroleum Corporation reported adjusted earnings of $3.22 billion or $8.14 per share for the period.

Analysts on average had expected the company to earn $7.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.0% to $41.58 billion from $47.24 billion last year.

Marathon Petroleum Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $3.28 Bln. vs. $4.48 Bln. last year. -EPS (Q3): $8.28 vs. $9.06 last year. -Analyst Estimates: $7.78 -Revenue (Q3): $41.58 Bln vs. $47.24 Bln last year.