Wall Street is optimistic about Marathon Petroleum, which is slated to report its third quarter results on Thursday, October 30, 2014. Analysts project a profit of $2.32 a share, a rise from 59 cents per share a year ago.
The consensus estimate has gone up, from $2.03, over the past three months. Analysts are projecting earnings of $7.99 per share for the fiscal year. Revenue is projected to eclipse the year-earlier total of $26.27 billion by 2%, finishing at $26.83 billion for the quarter. For the year, revenue is projected to roll in at $98.20 billion.
Over the last four quarters, the company has seen an average of 12% year-over-year growth in revenue. The biggest rise came in the third quarter, with revenue growing 24% from the year-ago quarter.
The rise in net income in the second quarter snapped a streak of three straight quarters of decreasing net income. In the most recent quarter, profit increased by more than fivefold year-over-year. Looking back further, profit dropped 73% in the first quarter, 17% in the fourth quarter and 86% in the third quarter.
The majority of analysts (79%) rate Marathon Petroleum as a buy. This compares favorably to the analyst ratings of nine similar companies, which average 45% buys.
Tesoro, also in the oil and gas operations industry, will report earnings on Thursday, October 30, 2014. Analysts are expecting earnings of $2.07 per share for Tesoro, up 370% from last year's earnings of $0.44 per share. Other companies in the oil and gas operations industry with upcoming earnings release dates include: Alon USA Energy, Valero and Western Refining.
Earnings estimates provided by Zacks.
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