Marathon Petroleum Corporation. (NYSE:MPC) Q3 2024 Earnings Conference Call November 5, 2024 11:00 AM ET
Company Participants
Kristina Kazarian - IR
Maryann Mannen - CEO
John Quaid - CFO
Rick Hessling - Chief Commercial Officer
Timothy Aydt - EVP, Refining
David Heppner - Chief Strategy Officer & SVP, Business Development
Conference Call Participants
Neil Mehta - Goldman Sachs
Douglas Leggate - Wolfe Research
Manav Gupta - UBS
Paul Cheng - Scotiabank
Roger Read - Wells Fargo
John Royall - JPMorgan
Jason Gabelman - TD Cowen
Operator
Welcome to the MPC Third Quarter 2024 Earnings Call. My name is Sheila, and I will be your operator for today's call. [Operator Instructions] Please note that this conference is being recorded. I will now turn the call over to Kristina Kazarian. Kristina, you may begin.
Kristina Kazarian
Welcome to Marathon Petroleum Corporation's Third Quarter 2024 Earnings Conference Call. The slides that accompany this call can be found on our website at marathonpetroleum.com under the Investor tab. Joining me on the call today are Maryann Mannen, CEO; John Quaid, CFO; and other members of the executive team.
We invite you to read the safe harbor statements on Slide 2. We will be making forward-looking statements today. Actual results may differ. Factors that could cause actual results to differ are included there as well as in our filings with the SEC.
With that, I'll turn the call over to Maryann.
Maryann Mannen
Thanks Kristina and good morning everyone. We remain committed to peer leading, operational excellence, commercial performance and profitability per barrel in each of the regions in which we operate while being steadfast in our commitments to safely reliably operate our assets and protect the health and safety of our employees.
The global macro environment continues to exhibit refined product demand growth and we expect 2024 will be another year of record refined product consumption. Within our domestic and export businesses, we have seen steady year-over-year demand for gasoline and diesel and growth in demand for jet fuel. Refining margins were volatile in the third quarter as the market digested the implications of a light turnaround season, less seasonal supply interruptions than anticipated and the uncertainties around global economic growth, particularly the pace within China.
By leveraging our fully integrated refining system and geographic diversification across the Gulf Coast, Mid-Con and West Coast regions our portfolio of assets is well positioned to perform in this dynamic market environment.