Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Q2 Results Will Be Impacted Due to Renewable Fuels Standard Law Says Marathon Petroleum (MPC)

Tuesday, July 16, 2013 4:21 AM
Marathon Petroleum Corporation (NYSE: MPC) said on Monday that its fiscal second-quarter results will be impacted due to Renewable Fuels Standard Law. The Findlay, Ohio-based Company said that its refining and marketing business will feel the heat due to lower crude oil differentials and some other factors such as product realizations compared to spot market prices, which the company attributed to Renewable Fuels Standard Law. The Company now expects net income to be in the range of $570 million to $600 million or $1.75 to $1.85 a share. The Company said it included a charge of 12 cents a share towards one-time pension settlement. Analysts surveyed by FactSet had forecasted earnings of $2.65 a share. In the same quarter of last fiscal year, the Company reported net income of $814 million or $2.38 a share, including a charge of 15 cents a share, linked to pension settlement costs. According to Renewable Fuels Standard Law, companies that are in business of selling petroleum will now be required to produce renewable fuels such as biodiesel extracted from vegetable oil. Besides, these companies can also buy credits, dubbed as renewable identification numbers (RINs) from companies that produce environmentally efficient fuels—in order to fulfill requirements laid out for increasing the usage of clean energy. The Company is slated to report fiscal second quarter results on August 1.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

 

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
arrow
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
Forex Forex Signals major FX pairs signals