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Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation

Marathon Petroleum Corporation · Jul 31, 2014 · 20 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 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 1
    Second Quarter 2014 Earnings Conference Call and Webcast July 31, 2014
  2. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 2
    Highlights Reported earnings of 855 million Increased dividend 19 percent, to 0.50 per share Executed 459 million of share repurchases during second quarter Increased share repurchase authorization by 2 billion Exercised option to…
  3. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 3
    2Q 2014 Earnings* 2Q 2014 2Q 2013 Earnings 855 MM 593 MM Earnings per Diluted Share 2.95 1.83 Earnings Earnings per Diluted Share 2,500 8 2,112 6.64 2,000 626 6 2.07 1,500 MM 168 1,054 4 0.54 3.60 1,000 593…
  4. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 4
    Earnings* 2Q 2014 vs. 2Q 2013 Variance Analysis 1,200 1,000 58 357 23 (3) (29) 855 800 (141) (3) 593 MM 600 400 200 0 2Q 2013 Refining & Speedway Pipeline Corporate & Other Interest Income Noncontrolling…
  5. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 5
    Refining and Marketing Segment Income 2Q 2014 vs. 2Q 2013 Variance Analysis 1,500 657 66 1,260 1,250 (153) 1,000 62 21 903 164 MM 750 (299) (161) 500 250 0 2Q 2013 *LLS *Sweet/ *LLS/WTI *LLS *Market Other Direct…
  6. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 6
    Refining and Marketing Segment Income 2Q 2014 vs. 1Q 2014 Variance Analysis 1,500 398 1,260 1,250 (23) 1,000 568 159 (4) (92) (5) MM 750 (103) 500 362 250 0 1Q 2014 *LLS *Sweet/ *LLS/WTI *LLS *Market Other Direct…
  7. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 7
    Speedway Segment Income 2Q 2014 vs. 2Q 2013 Variance Analysis 140 123 120 12 100 94 (32) (9) MM 80 60 40 20 0 2Q 2013 Light Product Gross Merchandise Gross Other 2Q 2014 Margin Margin 8
  8. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 8
    Pipeline Transportation Segment Income 2Q 2014 vs. 2Q 2013 Variance Analysis 100 12 81 80 (1) 12 60 58 MM 40 20 0 2Q 2013 Transportation Pipeline Other 2Q 2014 Revenue Affiliates 9
  9. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 9
    Total Company Cash Flow 2Q 2014 3,500 1,095 3,000 (217) (20) 2,500 (385) 2,166 (122) 67 2,125 2,000 (459) MM 1,500 1,000 500 0 3/31/14 Operating Working Long-term Cash Capital Dividends Share Other 6/30/14 Cash…
  10. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 10
    Select Balance Sheet/Cash Flow Data (MM) 2014 2014 2013 2013 2Q 1Q 4Q 3Q As of quarter ended: Cash and cash equivalents 2,125 2,166 2,292 2,018 Total debt 3,638 3,659 3,396 3,403 Equity 11,037 10,758 11,332 11,264…
  11. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 11
    Focused Return of Capital to Shareholders LTM Ended 6/30/14 6,000 5,000 Dividends and share repurchases* 4,000 3,128 1.8x of Cash capital expenditures, MM Free Cash 3,000 Flow** acquisitions and investments Free Cash…
  12. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 12
    3Q 2014 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…
  13. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 13
    Appendix
  14. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 14
    Capital Expenditures & Investments* (MM) 2014 Budget 2Q 2014 2014 YTD Refining & Marketing (R&M) 864 151 294 Midstream included in R&M 348 84 119 Speedway 327 44 76 Pipeline Transportation 760 64 194 Corporate and Other 133 13…
  15. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 15
    Reconciliation Free Cash Flow to Net Cash Provided by Operations (MM) 2013 2014 (For the Quarter) 3Q 4Q 1Q 2Q Net cash provided by operating activities 407 1,355 766 878 Additions to property, plant and equipment (309) (473) (267)…
  16. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 16
    Earnings (MM unless otherwise noted) 2013 2014 1Q 2Q 3Q 4Q 1Q 2Q Refining & Marketing segment income 1,105 903 227 971 362 1,260 Speedway segment income 67 123 102 83 58 94 Pipeline Transportation segment income 51 58 54 47 72 81…
  17. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 17
    Reconciliation EBITDA to Net Income Attributable to MPC (MM) 2012 2013 2014 4Q 1Q 2Q 3Q 4Q 1Q 2Q Net Income attributable to MPC 755 725 593 168 626 199 855 Less: Net interest and other financial income (costs) (45) (48) (45) (47)…
  18. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 18
    Cash Provided from Operations Before Changes in Working Capital Reconciliation to Net Cash Provided by Operations (MM) 2013 2014 (For the Quarter) 3Q 4Q 1Q 2Q Net cash provided by operations 407 1,355 766 878 Less changes in…
  19. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 19
    Refining & Marketing Indicative Gross Margin 2Q 2014 3,000 477 2,670 2,500 526 65 (15) (117) 2,000 1,734 MM 1,500 (1,183) 1,260 (227) 1,000 500 0 *LLS *Sweet/ *LLS/WTI *LLS *Market Other R&M Direct Other R&M…
  20. Q2 2014 Earnings Conference Call – Marathon Petroleum Corporation – slide 20

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