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Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation

Marathon Petroleum Corporation · Jul 30, 2015 · 21 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 1
    Second Quarter 2015 Earnings Conference Call and Webcast July 30, 2015
  2. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 2
    Highlights Reported second-quarter earnings of 826 million Announced transformative MPLX/MarkWest strategic combination Converted more than half of the 1,245 new retail sites to the Speedway brand since acquisition Returned 544…
  3. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 3
    2Q 2015 Earnings* 2Q 2015 2Q 2014 Earnings 826 MM 855 MM Earnings per Diluted Share** 1.51 1.48 Earnings Earnings per Diluted Share** 3,000 5 4.39 2,524 2,500 4 798 1.43 3.14 /Share 2,000 1,717 3 MM 1,500 672 1.18…
  4. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 4
    Earnings* 2Q 2015 vs. 2Q 2014 Variance Analysis 1,000 855 33 25 826 800 (2) (11) (4) (54) (16) 600 MM 400 200 0 2Q 2014 Refining & Speedway Pipeline Items not Interest and Income Noncontrolling 2Q 2015 Marketing…
  5. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 5
    Refining and Marketing Segment Income 2Q 2015 vs. 2Q 2014 Variance Analysis 1,800 372 1,600 1,400 85 93 130 1,260 1,206 1,200 (39) (88) (458) (149) 1,000 MM 800 600 400 200 0 2Q 2014 *LLS *Sweet/ *LLS/WTI *LLS *Market…
  6. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 6
    Speedway Segment Income 2Q 2015 vs. 2Q 2014 Variance Analysis 160 23 140 16 127 120 (20) 14 100 94 MM 80 60 40 20 0 2Q 2014 Acquired Locations* Light Product Merchandise Other 2Q 2015 Gross Margin Gross Margin *Refers…
  7. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 7
    Pipeline Transportation Segment Income 2Q 2015 vs. 2Q 2014 Variance Analysis 120 100 15 81 79 80 (10) (7) MM 60 40 20 0 2Q 2014 Transportation Pipeline Operating Expenses & 2Q 2015 Revenue Affiliates Other 8
  8. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 8
    Total Company Cash Flow 2Q 2015 3,500 1,231 3,000 (237) (6) 2,500 2,078 (657) 2,000 16 1,881 MM (544) 1,500 1,000 500 0 3/31/2015 Operating Working Long-term Cash Capital Return of Capital Other 6/30/2015 Cash Cash Flow…
  9. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 9
    Select Balance Sheet / Cash-Flow Data (MM) 2015 2014 2Q 1Q 4Q 3Q As of quarter ended: Cash and cash equivalents 1,881 2,078 1,494 1,854 Total debt(a) 6,698 6,704 6,602 6,247 Equity 12,290 11,980 11,390 11,266 Debt-to-total-capital…
  10. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 10
    3Q 2015 Outlook Other Total Corporate Percent of Turnaround Depreciation Other Crude Charge/ Total Direct and Other WTI-priced and Major and Manufacturing Throughput* Feedstocks Throughput* Operating Unallocated Crude Maintenance…
  11. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 11
    Appendix 12
  12. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 12
    Focused Return of Capital to Shareholders LTM Ended 6/30/15 8,000 7,000 6,000 2,772 Hess Retail Acquisition 5,000 Dividends and share Dividends and share repurchases 1.8x of MM Adj. Free Cash Flow*** repurchases* 4,000…
  13. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 13
    Capital Expenditures & Investments (MM) 2015 Budget 2Q 2015 YTD Refining & Marketing 1,042 160 335 Midstream 234 47 101 Total Refining & Marketing Segment 1,276 207 436 Speedway 452 100 145 Pipeline Transportation 659 157 238…
  14. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 14
    Reconciliation Adjusted Free Cash Flow to Net Cash Provided by Operations (MM) 2014 2015 LTM (For the Quarter) 3Q 4Q 1Q 2Q Net cash provided by operating activities 1,078 388 1,190 994 3,650 Additions to property, plant and…
  15. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 15
    Earnings (MM unless otherwise noted) 2014 2015 1Q 2Q 3Q 4Q 1Q 2Q Refining & Marketing segment income 362 1,260 971 1,016 1,316 1,206 Speedway segment income 58 94 119 273 168 127 Pipeline Transportation segment income 72 81 69 58 67…
  16. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 16
    Reconciliation EBITDA to Net Income Attributable to MPC (MM) 2013 2014 2015 4Q 1Q 2Q 3Q 4Q 1Q 2Q Net Income attributable to MPC 626 199 855 672 798 891 826 Less: Net interest and other financial inco income (costs) (39) (46) (48)…
  17. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 17
    Cash Provided from Operations Before Changes in Working Capital Reconciliation to Net Cash Provided by Operations (MM) 2014 2015 (For the Quarter) 3Q 4Q 1Q 2Q Net cash provided by operations 1,078 388 1,190 994 Less changes in…
  18. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 18
    Refining and Marketing Segment Income 2Q 2015 vs. 1Q 2015 Variance Analysis 2,000 204 1,500 32 173 1,316 25 (158) 1,206 (112) (195) (79) MM 1,000 500 0 1Q 2015 *LLS *Sweet/ *LLS/WTI *LLS *Market Other Direct Other 2Q…
  19. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 19
    Refining and Marketing Indicative Gross Margin 2Q 2015 3,000 255 19 2,635 2,500 158 438 (54) 2,000 1,819 MM 1,500 (1,053) 1,206 1,000 (376) 500 0 *LLS *Sweet/ *LLS/WTI *LLS *Market Other R&M Direct Other R&M 6-3-2-1…
  20. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 20
    MPLX Distributions and Sales Proceeds to MPC* 30 27.3 24.1 19.7 20.7 20 17.5 18.5 15.8 16.6 MM 15.1 9.8 10 0 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 LP Distributions GP Distributions, including IDRs MPC Proceeds…
  21. Q2 2015 Earnings Conference Call and Webcast – Marathon Petroleum Corporation – slide 21

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