By Giulia Petroni

Marathon Petroleum Corp. (MPC) on Wednesday reported a fall in fourth-quarter profit and sales.

The Ohio-based petroleum company earned a quarterly profit of $443 million, or 68 cents a share, compared with $951 million, or $1.35 a share, for the same period last year. Excluding items, Marathon Petroleum reported an adjusted profit of $1.56 a share for the quarter, compared with $2.41 last year.

Results include a pre-tax charge of $1.2 billion primarily related to a midstream goodwill impairment related to MPLX LP (MPLX), the company said.

Sales in the quarter fell to $31.38 million from $32.54 million.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

January 29, 2020 08:14 ET (13:14 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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