Market Report -- In Play (MRO)

November 3, 2009 8:46 AM ET

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Stocks mentioned in this article: Marathon Oil Corp (MRO) Stock Quote, Chart, News, Add to Watchlist
Related topics: Movers

Marathon Oil beats by $0.04, beats on revs Reports Q3 (Sep) earnings of $0.61 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.57; revenues fell 37.9% year/year to $14.48 bln vs the $13.7 bln consensus. "In our Exploration and Production segment, production available for sale rose 5 percent from the year-ago quarter, and the Company made progress on development projects in Norway, the Gulf of Mexico and elsewhere. Our Refining, Marketing and Transportation segment once again out-performed its peers in the domestic market that saw significantly lower gross margins versus a year ago. Another bright spot was our Speedway SuperAmerica LLC business, which recorded higher same-store gasoline sales volumes and merchandise sales in the third quarter of 2009 from the year-ago period. The Garyville Major Expansion project is nearing completion, and we look forward to an on-schedule startup by year's end."

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