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FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation

Marathon Petroleum Corporation · May 1, 2014 · 19 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. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 1
    First Quarter 2014 Earnings Conference Call and Webcast May 1, 2014
  2. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 2
    Highlights Reported earnings of 199 million Completed refining turnarounds totaling approximately 470 million Acquired biodiesel facility Acquired additional interest in Explorer Pipeline Returned 812 million of capital to…
  3. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 3
    1Q 2014 Earnings* 1Q 2014 1Q 2013 Earnings 199 MM 725 MM Earnings per Diluted Share 0.67 2.17 Earnings Earnings per Diluted Share 2,500 2,112 8 6.64 2,000 626 6 2.07 1,500 MM 168 4 0.54 1,000 593 /Share 1.83…
  4. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 4
    Earnings* 1Q 2014 vs. 1Q 2013 Variance Analysis 800 725 (743) 700 600 500 400 MM 300 270 (3) 199 200 100 (9) 21 (64) 0 2 -100 -200 1Q 2013 Refining & Speedway Pipeline Pension Interest & Income Noncontrolling 1Q 2014…
  5. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 5
    Refining and Marketing Segment Income 1Q 2014 vs. 1Q 2013 Variance Analysis 2,000 484 (320) 1,500 (397) 1,105 148 (605) MM 1,000 11 (79) 500 15 362 0 1Q 2013 *LLS *Sweet/ *LLS/WTI *LLS *Market Other Direct Other 1Q…
  6. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 6
    Speedway Segment Income 1Q 2014 vs. 1Q 2013 Variance Analysis 80 70 67 (8) 8 (9) 60 58 50 MM 40 30 20 10 0 1Q 2013 Light Product Gross Merchandise Gross Expenses 1Q 2014 Margin Margin 7
  7. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 7
    Pipeline Transportation Segment Income 1Q 2014 vs. 1Q 2013 Variance Analysis 80 22 (1) (3) 5 (2) 72 60 51 MM 40 20 0 1Q 2013 Trans. Depreciation Operating Pipeline Other 1Q 2014 Revenue Expenses Affiliates 8
  8. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 8
    Total Company Cash Flow 1Q 2014 3,500 264 (390) 125 3,000 641 (123) (689) 2,500 2,292 46 2,166 2,000 MM 1,500 1,000 500 0 12/31/13 Operating Working Long-term Cash Capital Dividends Share Other 3/31/14 Cash Cash Flow…
  9. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 9
    Select Balance Sheet/Cash Flow Data (MM) 2014 2013 2013 2013 1Q 4Q 3Q 2Q As of quarter ended: Cash and cash equivalents 2,166 2,292 2,018 3,069 Total debt 3,659 3,396 3,403 3,410 Equity 10,758 11,332 11,264 12,197…
  10. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 10
    Focused Return of Capital to Shareholders LTM Ended 3/31/14 6,000 5,000 Dividends and share repurchases* 4,000 6.4x of Cash capital expenditures, 3,542 MM Free Cash 3,000 Flow** acquisitions and investments 2,000 Net…
  11. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 11
    2Q 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…
  12. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 12
    Appendix
  13. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 13
    Capital Expenditures & Investments (MM) 2014 Budget 1Q 2014 Refining & Marketing (R&M) 864 143 Midstream included in R&M 348 35 Speedway 327 32 Pipeline Transportation 760 130 Corporate and Other 133 25 Subtotal 2,432 365…
  14. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 14
    Reconciliation Free Cash Flow to Net Cash Provided by (Used in) Operations (MM) 2013 2014 (Quarter to date) 2Q 3Q 4Q 1Q Net cash provided by (used in) operating activities (436) 407 1,355 766 Additions to property, plant and…
  15. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 15
    Income (MM unless otherwise noted) 2013 2014 1Q 2Q 3Q 4Q 1Q Refining & Marketing segment income 1,105 903 227 971 362 Speedway segment income 67 123 102 83 58 Pipeline Transportation segment income 51 58 54 47 72 Corporate and…
  16. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 16
    EBITDA Reconciliation to Net Income Attributable to MPC (MM) 2012 2013 2014 3Q 4Q 1Q 2Q 3Q 4Q 1Q Net Income attributable to MPC 1,224 755 725 593 168 626 199 Less: Net interest and other financial income (costs) (25) (45) (48)…
  17. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 17
    Cash Provided from Operations Before Changes in Working Capital Reconciliation to Cash Provided by (Used in) Operations (MM) 2013 2014 (Quarter to date) 2Q 3Q 4Q 1Q Net cash provided by (used in) operations (436) 407 1,355 766 Less…
  18. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 18
    Refining & Marketing Indicative Gross Margin 1Q 2014 2,500 318 2,146 (1,581) 2,000 156 (10) (14) 530 1,500 MM 1,166 1,000 (203) 500 362 0 *LLS *Sweet/ *LLS/WTI *LLS *Market Other R&M Direct Other R&M 6-3-2-1 Sour…
  19. FIRST QUARTER 2014 EARNINGS CONFERENCE CALL – Marathon Petroleum Corporation – slide 19

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