Core Viewpoint - Marathon Petroleum's shares have increased by 35% over the past year due to an improved refining environment, but experienced a 6% drop in early trading following an unexpected earnings miss attributed to weak capture [1] Company Performance - The company reported a surprising earnings miss, which led to a 6% decline in share price during early trading [1] - Over the past year, shares of Marathon Petroleum have performed strongly, gaining 35% [1] Market Environment - The refining environment has improved considerably, contributing to the strong performance of Marathon Petroleum's shares [1]

Financial Performance - Adjusted earnings per share were $3.01[9] - Adjusted EBITDA reached $3,206 million[9] - Cash flow from operations, excluding changes in working capital, amounted to $2,387 million[7, 9] - $926 million was returned to shareholders[7, 9] - The company expects $2.8 billion of annual distributions from MPLX[7, 33] Segment Highlights - Refining & Marketing (R&M) segment adjusted EBITDA was $1,762 million[13] - R&M segment adjusted EBITDA per barrel was $6.37[9] - Refining & Marketing margin was $4,865 million[16] - Midstream segment adjusted EBITDA reached $1,709 million, a 5% year-over-year growth[19] - Renewable Diesel segment experienced a weaker margin environment, resulting in a negative adjusted EBITDA of -$56 million[21] Outlook - The company anticipates total throughput of 2,905 MBPD for Refining & Marketing in the fourth quarter of 2025[27] - Turnaround costs are projected at $420 million for the fourth quarter of 2025[27] Sustainability - The company is targeting a 30% reduction in Scope 1 & 2 GHG emissions intensity by 2030 and a 38% reduction by 2035 from 2014 levels[29]

Core Viewpoint - Marathon Petroleum (MPC) reported quarterly earnings of $3.01 per share, missing the Zacks Consensus Estimate of $3.11 per share, but showing an increase from $1.87 per share a year ago, indicating a -3.22% earnings surprise [1] Financial Performance - The company posted revenues of $35.85 billion for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 16.33%, and up from $35.37 billion year-over-year [2] - Over the last four quarters, Marathon Petroleum has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Performance - Marathon Petroleum shares have increased approximately 40.4% since the beginning of the year, outperforming the S&P 500's gain of 16.5% [3] Future Outlook - The company's earnings outlook will be crucial for assessing future stock performance, with current consensus EPS estimates at $2.95 for the coming quarter and $10.01 for the current fiscal year [7] - The Zacks Rank for Marathon Petroleum is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Oil and Gas - Refining and Marketing industry is currently in the top 18% of over 250 Zacks industries, suggesting a favorable outlook for stocks within this sector [8]

Group 1 - Marathon Petroleum Corp. has elected Maryann T. Mannen as chairman of the board, effective January 1, 2026, succeeding Michael J. Hennigan, who will retire from the position [1][2] - Mannen has been with the company in various leadership roles, including CEO since August 2024, and she aims to build on the legacy of her predecessor [2] - The company operates the largest refining system in the United States and has a significant presence in the midstream energy sector through its partnership in MPLX LP [3] Group 2 - The board of directors expressed confidence in Mannen's leadership and acknowledged Hennigan's contributions to the company's value creation during his tenure [2] - The company has declared a quarterly dividend of $1.00 per share on common stock, indicating a commitment to returning value to shareholders [5]

Exhibit 99.1 Marathon Petroleum Corp. Reports Third-Quarter 2025 Results FINDLAY, Ohio, Nov. 4, 2025 – Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $1.4 billion, or $4.51 per diluted share, for the third quarter of 2025, compared with net income attributable to MPC of $622 million, or $1.87 per diluted share, for the third quarter of 2024. Adjusted net income was $915 million, or $3.01 per diluted share, for the third quarter of 2025. Adjustments are shown in the acc ...

Core Insights - Marathon Petroleum Corp. reported a significant increase in net income for Q3 2025, reaching $1.4 billion or $4.51 per diluted share, compared to $622 million or $1.87 per diluted share in Q3 2024 [1][6][26] - Adjusted net income for the same period was $915 million or $3.01 per diluted share, with adjusted EBITDA rising to $3.2 billion from $2.5 billion year-over-year [2][6] Financial Performance - The company's total revenues for Q3 2025 were $35.8 billion, slightly up from $35.4 billion in Q3 2024 [26] - The Refining & Marketing segment adjusted EBITDA was $1.8 billion, up from $1.1 billion in the same quarter of the previous year, with a margin of $6.37 per barrel compared to $4.15 per barrel [5][28] - Midstream segment adjusted EBITDA increased to $1.7 billion, reflecting a 5% growth year-over-year [8] Operational Highlights - Refining operating costs per barrel were reported at $5.59 for Q3 2025, compared to $5.23 in Q3 2024 [7][28] - Crude capacity utilization was at 95%, with total throughput of 3.0 million barrels per day [7][31] - The company returned approximately $926 million to shareholders, including $650 million in share repurchases [6][11] Strategic Developments - The company announced a 10% increase in its quarterly dividend and expects $2.8 billion in annual distributions from MPLX [6][12] - Capital spending for 2025 includes high-return investments in key refineries, with specific projects aimed at enhancing competitiveness and production flexibility [12][14] - The Eiger Express Pipeline project was announced, which will transport natural gas from the Permian basin to Texas, expected to be operational by mid-2028 [15] Market Position - Marathon Petroleum operates the largest refining system in the U.S. and has a diversified asset base that positions it well for capital allocation in the energy sector [20] - The company is focused on optimizing its midstream portfolio to support increased producer activity and enhance its integrated value chain [3][15]

Core Viewpoint - Marathon Petroleum Corporation (NYSE:MPC) is highlighted as a top stock to watch, particularly in the context of AI and non-tech investments, with a recommendation to hold the stock despite its recent gains [1][2]. Group 1: Company Overview - Marathon Petroleum is an integrated downstream energy company that refines, markets, and transports petroleum products [3]. - The company operates the largest refining system in the United States, which provides significant cost advantages and barriers to entry for competitors [3]. Group 2: Financial Performance - The stock has increased by 30% over the past year, with expectations that it could reach $200 [1][2]. - The refining industry has faced margin pressures due to new supply and soft demand, but it is believed that supply and demand will eventually balance, leading to higher refining margins for Marathon [3]. Group 3: Strategic Positioning - Marathon's midstream business is considered an attractive asset due to its high market share in a prolific gas field, contributing to stable cash flows [3]. - The management's focus on returns on invested capital and commitment to returning capital to shareholders is appreciated [3].

Core Insights - Zacks Premium provides various tools to help investors make informed decisions in the stock market, including daily updates, research reports, and stock screens [1][2] Zacks Style Scores - The Zacks Style Scores are indicators designed to assist investors in selecting stocks likely to outperform the market within 30 days, rated from A to F based on value, growth, and momentum characteristics [3] - The Value Score focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, and Price/Sales [4] - The Growth Score emphasizes a company's financial health and future outlook, analyzing projected and historical earnings, sales, and cash flow [5] - The Momentum Score identifies optimal times to invest based on price trends and earnings estimate changes [6] - The VGM Score combines all three Style Scores, providing a comprehensive indicator for investors seeking value, growth, and momentum [7] Zacks Rank - The Zacks Rank is a proprietary model that utilizes earnings estimate revisions to help investors build successful portfolios, with 1 (Strong Buy) stocks achieving an average annual return of +23.93% since 1988, significantly outperforming the S&P 500 [8] - There can be over 800 top-rated stocks available, making it essential for investors to utilize Style Scores to narrow down their choices [9] - Stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B are recommended for maximizing investment potential [10] Company Spotlight: Marathon Petroleum - Marathon Petroleum Corporation, based in Findlay, OH, is a leading independent refiner and marketer of petroleum products, formed from the 2011 spin-off of Marathon Oil Corporation's refining business [12] - The company became the largest U.S. refiner and fifth largest globally by capacity following its $23.3 billion acquisition of Andeavor in October 2018 [12] - Currently, Marathon Petroleum holds a 3 (Hold) Zacks Rank with a VGM Score of A, and a Momentum Style Score of A, with shares increasing by 1.8% over the past four weeks [13] - Analysts have revised earnings estimates higher for fiscal 2025, with the Zacks Consensus Estimate rising by $2.49 to $10.01 per share, and the company has an average earnings surprise of +340.3% [13][14]

Core Viewpoint - US oil stocks are regaining momentum due to resilient refining margins and shareholder-friendly capital allocation, with specific companies identified as having potential for upside in the coming months [1] Group 1: Industry Insights - The oil industry is experiencing a recovery phase, driven by strong refining margins which support profitability [1] - Capital allocation strategies that favor shareholders are becoming more prevalent, indicating a shift towards enhancing shareholder value [1] Group 2: Company Opportunities - Two specific companies within the oil sector are highlighted as particularly well-positioned for growth in the near future, suggesting targeted investment opportunities [1]

Stock Recommendations & Analysis - Josh Brown highlights energy sector opportunities, despite its reduced prominence, citing positive reports from Baker Hughes and Valero [1][2] - Philip 66 is identified as a potential breakout stock, with revenue expectations around 30 billion USD and earnings per share at 229 USD, focusing on returning capital to shareholders [3][4] - Marathon is recommended to "stay the course," with a potential target price of 200 USD, based on the strong performance of publicly traded refineries [4][5] Company Financial Health & Strategy - Phillips 66 needs to prioritize debt reduction to the mid-teens billion USD range from above 20 billion USD, potentially impacting dividend payouts [6] - Refiners benefit from a 60 USD per barrel oil environment, emphasizing the importance of driving volume production in the United States [7] Investment Strategy & Portfolio Management - The firm exited Marathon due to overexposure to refiners [6] - The firm focuses on natural gas and dependent power producers within the energy ecosystem [8]