Profits for the quarter ended
Through six months, the company has a profit of $1.09 billion, or $2.31 per share, compared with $513 million last year. Revenue was $42.4 billion, a 19 percent gain from $34.7 billion during the first half of 2017.
The company has made significant progress toward closing its combination with
Marathon, which operates a refinery in
Income from the midstream business, which largely reflects MPLX, totaled $617 million compared with $332 million during the same period last year. MPLX, which has pipelines and processing centers in southeastern
Profit from the the Speedway convenience store business dropped to $159 million from $238 million in the second quarter last year. Higher costs and lower margins cut into profits, the company said.
Marathon announced its earnings before the market opened on Thursday. Investors reacted by pushing the stock price to $80.16, a gain of $5.44 per share.
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