Marathon reports earnings up in first quarter

Speedway Coorporate Headquarters in Enon. Bill Lackey/Staff

Speedway Coorporate Headquarters in Enon. Bill Lackey/Staff
By Matt Sanctis
April 27, 2017
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Marathon Petroleum Corp. reported $30 million in first quarter earnings this morning, which company executives said included solid contributions from the company’s Speedway segment, which is headquartered in Clark County.

The first quarter earnings were up significantly compared to the same time last year, when the company reported earnings of $1 million. The company’s Speedway segment provided $135 million in earnings, as demand for gasoline improved late in the quarter entering the summer driving season, according to information from the company.

Speedway’s first quarter results were down about 20 percent compared to the first quarter last year, primarily due to the absence of a $24 million gain from the sale of a retail location in the first quarter of 2016, according to information from the company.

Speedway’s corporate headquarters is based in Enon, and the company is one of Clark County’s largest employers with about 1,350 workers locally and about 33,820 nationally.

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About the Author

Matt Sanctis