$Marathon(MPC)$and $Phillips 6

2022-11-06

$Marathon(MPC)$and $Phillips 66(PSX)$posted quarterly profits which cruised past Wall Street estimates, becoming the latest U.S. refiners to benefit from robust fuel demand and margins amid tight supplies.

U.S. refiners are posting strong profits with refineries running at record levels this year, strong export demand amid a squeezed supply due to Russia's invasion of Ukraine and plant closings.

Top bosses of both refiners said market environment continues to be favorable and product demand remains strong.On an adjusted basis, Marathon reported a profit of $7.81 per share, beating average analysts' estimate of $7.07 per share, according to Refinitiv data.

Phillips 66's adjusted profit of $6.46 per share smashed estimates of $5.04.Amid the bumper results, Marathon also increased its dividend by 30% to 75 cents per share.

@Daily_Discussion

Q3 Earnings Analysis

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Comments

Papa Bear
2022-11-06
Papa Bear
thanks
Dyo
2022-11-06
Dyo
ok
Jia jia
2022-11-06
Jia jia
Thanks
stylocoffee
2022-11-06
stylocoffee
ok
yinlai
2022-11-06
yinlai
[Like]
JCWOO
2022-11-06
JCWOO
Ok

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