Marathon Petroleum Corp. Board Concludes Review of Midstream Business
Marathon Petroleum Corporation (MPC)
Last marathon petroleum corporation earnings: 1/29 06:30 am
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US:NYSE Investor Relations:
ir.marathonpetroleum.com
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Source: PR Newswire
FINDLAY, Ohio, March 18, 2020 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) today announced the unanimous decision of its Board of Directors to maintain MPC's current midstream structure, with the company remaining the general partner of MPLX LP (NYSE: MPLX). "Today's announcement concludes a comprehensive evaluation that included extensive input from multiple external advisors and significant feedback from investors," said J. Mike Stice, chair of the special committee of the Board that led the midstream review process. "Looking forward, we are excited to provide a clear path for our business. We believe in MPLX's strategic focus on free cash flow generation, and distributions from our continued ownership of MPLX will remain an important, through-cycle source of cash for MPC." Decision Rationale: Midstream Value Already Unlocked: Historical MPC dropdowns, totaling $1.6 billion of earnings before interest, taxes, depreciation and amortization (EBITDA), unlocked $13 billion
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MPC
Earnings
- 11/6/24 - Beat
MPC
Sec Filings
- 11/13/24 - Form 4
- 11/12/24 - Form 3
- 11/5/24 - Form 10-Q
- MPC's page on the SEC website