Marathon Petroleum (MPC) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Company Participants Kristina Kazarian - Vice President, Investor RelationsMaryann Mannen - President & CEOJohn Quaid - Executive VP & CFORick Hessling - Chief Commercial OfficerManav Gupta - Executive DirectorJohn Royall - Executive DirectorMatthew Blair - Managing DirectorJames Wilkins - Senior Vice President of Health, Environment, Safety & Security Conference Call Participants Neil Mehta - AnalystDoug Leggate - Managing Director - S ...

Financial Data and Key Metrics Changes - The company reported a first quarter net loss of $0.24 per share, with adjusted EBITDA approximately $2,000,000,000, which decreased sequentially by $145,000,000 due to lower results in refining and marketing and renewable diesel segments [18][19] - The company returned over $1,300,000,000 to shareholders through dividends and repurchases during the quarter [18] - Operating cash flow excluding changes in working capital was $1,000,000,000 for the quarter, driven by the strength and growth of the midstream business [23] Business Line Data and Key Metrics Changes - Refining utilization was at 89%, processing 2,600,000 barrels of crude per day, with significant planned turnaround activity particularly in the Gulf Coast region [4][19] - The Midstream segment adjusted EBITDA grew 8% year over year, with $619,000,000 received from MPLX, a 12.5% increase compared to the previous year [20][21] - The renewable diesel segment faced challenges with a 70% utilization rate due to unplanned downtime, but actions are being taken to optimize production [21][22] Market Data and Key Metrics Changes - Refined product inventories have drawn for the ninth straight week and are below the five-year average, which, along with lower retail prices, is expected to support demand during the summer driving season [6][7] - The company anticipates around 800,000 barrels per day coming offline across several refineries in the U.S. and Europe this year, which could strengthen margins [7][10] Company Strategy and Development Direction - The company is progressing a $1,250,000,000 standalone capital plan for 2025, with 70% targeted on high-return projects [12] - Investments are being made in the fully integrated West Coast value chain, particularly in the Los Angeles refinery, to improve reliability and energy efficiency [8][9] - The company aims to leverage its geographic diversification and integrated refining system to deliver peer-leading cash generation [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding demand, noting steady year-over-year demand for gasoline and growth in diesel and jet fuel, with no signs of an economic slowdown [36][37] - The company believes that the U.S. refining industry will remain structurally advantaged due to locational advantages and flexibility in refining systems [10][11] - Management is focused on optimizing operations and capital allocation to enhance competitiveness and deliver strong financial performance [28][29] Other Important Information - The company is managing its balance sheet to maintain an investment-grade credit profile, with a minimum target of $1,000,000,000 in cash [24][25] - The company has a strong liquidity position with $3,800,000,000 in consolidated cash and undrawn credit facilities of $5,000,000,000 [25] Q&A Session Summary Question: Demand perspective and economic slowdown - Management noted refined cracks have improved, indicating a seasonal uptick in demand, with overall utilization projected at 94% for the second quarter [34][35] Question: West Coast outlook and political environment - Management highlighted investments in the LA asset and the competitive advantage of their integrated operations, while monitoring regulatory changes closely [40][42] Question: Capture rates and commercial performance - Management emphasized the importance of commercial performance and sustainable advantages built over the years, aiming for capture rates approaching 100% [55][58] Question: Crude quality discounts and OPEC volumes - Management expressed optimism regarding benefits from heavy crude processing, anticipating discounts to improve due to OPEC's increased volumes [74][75] Question: Midstream growth and distribution sustainability - Management confirmed a durable growth outlook for MPLX distributions, supported by ongoing projects and capital discipline [78][82] Question: Renewable diesel profitability and operational reliability - Management is focused on optimizing operations and addressing challenges from Q1, with expectations for an EBITDA positive quarter in Q2 [120][121]

Marathon Petroleum (MPC) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Company Participants Kristina Kazarian - Vice President, Investor RelationsMaryann Mannen - President & CEOJohn Quaid - Executive VP & CFORick Hessling - Chief Commercial OfficerManav Gupta - Executive DirectorJohn Royall - Executive DirectorMatthew Blair - Managing DirectorJames Wilkins - Senior Vice President of Health, Environment, Safety & Security Conference Call Participants Neil Mehta - AnalystDoug Leggate - Managing Director - S ...

May 6, 2025 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements regarding MPC. These forward-looking statements may relate to, among other things, MPC's expectations, estimates and projections concerning its business and operations, financial priorities, strategic plans and initiatives, capital return plans, capital expenditure plans, operating cost reduction objectives, and environmental, social and governance ("ESG") plans and goals, including those related to greenhouse gas e ...

Exhibit 99.1 Marathon Petroleum Corp. Reports First-Quarter 2025 Results FINDLAY, Ohio, May 6, 2025 – Marathon Petroleum Corp. (NYSE: MPC) today reported net loss attributable to MPC of $(74) million, or $(0.24) per diluted share, for the first quarter of 2025, compared with net income attributable to MPC of $937 million, or $2.58 per diluted share, for the first quarter of 2024. The first quarter of 2025 adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA) was $2.0 bil ...

FINDLAY, Ohio, May 6, 2025 /PRNewswire/ -- First-quarter net loss attributable to MPC of $(74) million, or $(0.24) per diluted share mainly due to execution of second largest planned maintenance quarter in MPC history $2.0 billion of adjusted EBITDA, supported by the strength of the Midstream business Executing Natural Gas & NGL growth strategy with MPLX's agreement to acquire 100% ownership in BANGL, LLC and FID of the Traverse natural gas pipeline $1.3 billion of capital returned, inclusive of $1.1 billio ...

In its upcoming report, Marathon Petroleum (MPC) is predicted by Wall Street analysts to post quarterly loss of $0.63 per share, reflecting a decline of 122.7% compared to the same period last year. Revenues are forecasted to be $30.09 billion, representing a year-over-year decrease of 9.4%.The consensus EPS estimate for the quarter has been revised 4.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates d ...

In the latest trading session, Marathon Petroleum (MPC) closed at $138.31, marking a +0.53% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.58%. At the same time, the Dow added 0.75%, and the tech-heavy Nasdaq gained 0.55%.The refiner's shares have seen a decrease of 5.57% over the last month, surpassing the Oils-Energy sector's loss of 8.92% and falling behind the S&P 500's loss of 0.84%.Market participants will be closely following the financial results of Mara ...

The market expects Marathon Petroleum (MPC) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on May 6, 2025, might help the stock move higher if these key numbers are ...

SILICON VALLEY, Calif., April 22, 2025 /PRNewswire/ -- Pegasus Tech Ventures, a global venture capital firm, will hold a Startup Pitch Contest during San Francisco Climate Week on April 23, 2025.  The event will focus on emerging energy solutions, allowing innovative startups to present their transformative technologies in areas such as: Energy industry modernization, Energy supply chain optimization, Artificial intelligence and machine learning, and Climate technologies. Pegasus Tech Ventures to host a St ...