Marathon Beats Estimates and Sells Refineries
Marathon Petroleum reported strong third-quarter profit beating Wall Street estimates. The company also announced a 4.2 billion dollar deal to sell two refineries to CVR Energy.
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Marathon Petroleum Corp posted higher-than-expected third-quarter profit and agreed to sell two refineries and related midstream assets to CVR Energy Inc for $4.2 billion. The top US refiner earned $26.93 per share on an adjusted basis, topping analysts' estimates of $24.47 per share. Shares rose 2% in premarket trading following the announcement.
