MPC, VLO, HFC, and PSX: Refining Stocks’ Beats and Misses in Q3

Refining stocks Marathon Petroleum (MPC), HollyFrontier (HFC), Valero Energy (VLO), and Phillips 66 (PSX) recently posted their third-quarter earnings results. Only one of these companies missed analysts’ third-quarter earnings estimates. Let’s review each of them.

In the third quarter, Marathon Petroleum posted revenue of $23 billion, which exceeded Wall Street analysts’ consensus estimate. However, in the third quarter, the company reported EPS of $1.62, which missed analysts’ estimate of $1.70. The company’s third-quarter EPS fell 8% YoY (year-over-year).

HollyFrontier’s revenue of $4.8 billion surpassed analysts’ mean estimate. The company’s adjusted EPS of $1.98 also surpassed analysts’ estimate of $1.67. HFC’s adjusted EBITDA rose 35% YoY to $612 million in the third quarter.

Valero Energy’s revenue of $31 billion surpassed Wall Street analysts’ mean estimate by ~9%. Valero reported EPS of $2.01, which surpassed analysts’ estimate of $1.95 by ~3%. The company’s third-quarter EPS were 5% higher than its adjusted EPS in the third quarter of 2017.

Phillips 66’s revenue rose ~16% YoY to $30 billion in the third quarter. Phillips 66’s adjusted EPS stood at $3.1 in the third quarter, surpassing analysts’ estimate of $2.5. The company’s third-quarter adjusted EPS rose 87% YoY.

In the next article, we’ll look at further details of the earnings of these companies in the third quarter.