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Marathon Petroleum Q3 profit climbs 620.2% YOY

Marathon Petroleum Corp. said its normalized net income for the third quarter amounted to $1.55 per share, compared with the S&P Capital IQ consensus estimate of $1.48 per share.

EPS climbed 651.3% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $785.9 million, a gain of 620.2% from $109.1 million in the year-earlier period.

The normalized profit margin climbed to 4.5% from 0.7% in the year-earlier period.

Total revenue rose 17.2% year over year to $17.29 billion from $14.75 billion, and total operating expenses increased 12.0% year over year to $15.80 billion from $14.11 billion.

Reported net income rose 528.3% from the prior-year period to $899.2 million, or $1.77 per share, from $143.1 million, or 27 cents per share.