08:23 AM EDT, 04/30/2024 (MT Newswires) -- Marathon Petroleum ( MPC ) reported Q1 net income Tuesday of $2.58 per diluted share, down from $6.09 a year earlier.

Analysts polled by Capital IQ expected $2.59.

Total revenue for the quarter ended March 31 was $33.21 billion, down from $35.08 billion a year earlier.

Analysts surveyed by Capital IQ expected $32.51 billion.

Additionally, the company said its board has approved an additional $5 billion share buyback authorization. Marathon now has a total of roughly $8.8 billion available under its stock buyback plan.

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