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Refiner Marathon Petroleum's profit soars on higher margins
October 26, 2017 / 10:48 AM / 3 months ago

Refiner Marathon Petroleum's profit soars on higher margins

Oct 26 (Reuters) - Refiner Marathon Petroleum Corp’s quarterly profit soared as U.S. gasoline and diesel margins surged to a two-year peak in the third quarter after a crippling U.S. hurricane season.

Net income attributable to the company rose to $903 million, or $1.77 per share, in the third quarter ended Sept. 30, from $145 million, or 27 cents per share, a year earlier.

The company had incurred a charge of $267 million in the year ago quarter over the scrapping of a pipeline project.

Revenues and other income rose to $19.39 billion from $16.46 billion a year earlier. (Reporting by John Benny in Bengaluru; Editing by Supriya Kurane)

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