Marathon Petroleum Corp. has revealed its financial results from the fourth quarter of 2023 — the company notably reported a net income of $1.5 billion in Q4 2023, compared to $3.3 billion in Q4 2022.
The company noted that the fourth quarter of 2023 adjusted earnings before interest, taxes, depreciation and adjusted EBITDA was $3.5 billion, compared with $5.8 billion for the fourth quarter of 2022.
For the full year 2023, Marathon’s net income was $9.7 billion, compared to $14.5 billion in 2022.
Additionally, the company reported $14.1 billion of full-year net cash provided by operating activities, which supported the return of $12.8 billion of capital to shareholders in 2023.
“In 2023, the business generated $14.1 billion of net cash from operations, driven by strong operational performance and commercial execution,” said CEO Michael J. Hennigan. “This enabled the return of $12.8 billion of capital to shareholders. We believe MPC is positioned to generate strong through-cycle cash flow with the ability to deliver superior returns to our shareholders.”
Marathon Petroleum Corporation (MPC) is an integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation’s largest refining system. MPC’s marketing system includes branded locations across the U.S., including Marathon brand retail outlets. MPC also owns the general partner and majority limited partner interest in MPLX, a midstream company that owns and operates gathering, processing and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.