Marathon Petroleum Corporation (MPC) CEO Mike Hennigan on Q2 2020 Results - Earnings Call Transcript

Marathon Petroleum Corporation (NYSE:MPC) Q2 2020 Earnings Conference Call July 29, 2020 9:30 AM ET

Company Participants

Kristina Kazarian - Vice President, Investor Relations
Mike Hennigan - CEO
Don Templin - CFO
Ray Brooks - Senior Vice President, Refining
Tim Griffith - President, Speedway
Brian Partee - Senior Vice President, Marketing

Conference Call Participants

Neil Mehta - Goldman Sachs
Doug Legate - Bank of America
Roger Read - Wells Fargo
Paul Cheng - Scot
Manav Gupta - Credit Suisse
Benny Wong - Morgan Stanley
Prashant Rao - Citi Group

Operator

Welcome to the MPC Second Quarter 2020 Earnings Call. My name is Sheela and I will be your operator for today's call. At this time, all participants are in listen-only mode. Later we will conduct a question-and-answer session [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 second quarter 2020 earnings conference call. The slides that accompany this call can be found on our website at marathonpetroleum.com under the Investors tab. Joining me on the call today are Mike Hennigan, CEO; Don Templin, 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 SEC filings.

With that, I will turn the call over to Mike.

Mike Hennigan

Thanks Kristina. Good morning, everyone and thank you for joining our call today. Yesterday we announced an agreement to sell Speedway to 7-Eleven for $21 billion in cash demonstrating our commitment to execute on the strategic priorities we outlined earlier this year. The sale of this business provides certainty