Core Insights - Marathon Petroleum Corporation (MPC) is expected to report second-quarter earnings on August 5, with a consensus estimate of $3.22 per share and revenues of $30.91 billion [1] Group 1: Previous Quarter Performance - In the last reported quarter, MPC had an adjusted loss of 24 cents per share, which was better than the Zacks Consensus Estimate of a loss of 63 cents, driven by strong performance in the Refining & Marketing segment [2] - Revenues for the last quarter were $31.9 billion, exceeding the Zacks Consensus Estimate of $30.1 billion, although this represented a 4.1% year-over-year decline [2][3] Group 2: Earnings Estimate Trends - The Zacks Consensus Estimate for the second-quarter earnings has been revised downward by 5.8% in the past 60 days, indicating a 21.84% year-over-year decline [4] - The revenue estimate of $30.91 billion for Q2 suggests a 19.43% decrease compared to the same period last year [4][9] Group 3: Business Segments and Performance Drivers - MPC operates primarily through two segments: Refining & Marketing and Midstream, with the former focusing on refining crude oil and distributing refined products, while the latter involves transportation and storage of crude oil and refined products [5] - The midstream segment is expected to have benefited from increased pipeline throughput and steady fee-based tariff income, which may have offset the negative impact of lower crude oil prices [6] - Solid demand for refined products and LPG exports, driven by strengthened overseas markets, is likely to have supported sales volumes and overall revenue [7] Group 4: Challenges and Pressures - MPC is anticipated to face margin pressure due to elevated turnaround and maintenance costs, exacerbated by ongoing and unplanned repairs [8] - The Galveston Bay refinery outage is expected to negatively impact bottom-line results, contributing to operational disruptions and increased repair-related costs [8][10] Group 5: Earnings Prediction Model - The Zacks model does not predict a definitive earnings beat for MPC this season, as the Earnings ESP is -2.74% and the company holds a Zacks Rank of 3 [11][12]

Core Viewpoint - Analysts forecast that Marathon Petroleum (MPC) will report quarterly earnings of $3.22 per share, indicating a year-over-year decline of 21.8%, with anticipated revenues of $30.91 billion, a decrease of 19.4% compared to the previous year [1] Earnings Projections - The consensus EPS estimate for the quarter has been revised upward by 22.9% over the past 30 days, reflecting a collective reappraisal by analysts [2] - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3] Key Metrics Forecast - Analysts predict 'Refining & Marketing - Refinery throughputs - Net refinery throughput' to reach 2,950.66 thousand barrels of oil per day, down from 3,065.00 thousand barrels per day in the same quarter last year [5] - The forecast for 'Refining & Marketing - Refinery throughputs - Crude oil refined' is 2,778.04 thousand barrels of oil per day, compared to 2,867.00 thousand barrels per day in the same quarter last year [6] - For 'Refining & Marketing - Refinery throughputs - Other charge and blendstocks', the expected throughput is 171.27 thousand barrels of oil per day, down from 198.00 thousand barrels per day in the same quarter last year [7] - Analysts expect 'Adjusted EBITDA- Refining & Marketing' to be $1.49 billion, compared to $1.97 billion from the previous year [7] - The projected 'Adjusted EBITDA- Midstream' is $1.67 billion, slightly up from $1.62 billion year-over-year [8] Stock Performance - Over the past month, Marathon Petroleum shares have recorded a return of -2.1%, while the Zacks S&P 500 composite has changed by +2.7% [8] - Based on its Zacks Rank 3 (Hold), MPC is expected to perform in line with the overall market in the upcoming period [8]

Company Performance - Marathon Petroleum (MPC) shares decreased by 2.65% to $170.78, underperforming the S&P 500's daily loss of 0.13% [1] - Prior to this trading session, shares had increased by 3.22%, lagging behind the Oils-Energy sector's gain of 4.18% and the S&P 500's gain of 3.39% [1] Earnings Projections - The company is expected to release earnings on August 5, 2025, with projected EPS of $3.22, reflecting a 21.84% decline compared to the same quarter last year [2] - Revenue is anticipated to be $30.91 billion, indicating a 19.43% decrease from the same quarter last year [2] Annual Estimates - For the annual period, Zacks Consensus Estimates predict earnings of $8.03 per share and revenue of $124.6 billion, representing declines of 15.56% and 11.26% respectively from the previous year [3] - Recent changes in analyst estimates suggest a shifting business landscape, with positive adjustments indicating a favorable outlook on business health and profitability [3] Valuation Metrics - Marathon Petroleum's Forward P/E ratio is currently 21.85, which is a premium compared to the industry's Forward P/E of 17.43 [6] - The company has a PEG ratio of 3, while the average PEG ratio for the Oil and Gas - Refining and Marketing industry is 1.57 [6] Industry Ranking - The Oil and Gas - Refining and Marketing industry holds a Zacks Industry Rank of 176, placing it in the bottom 29% of over 250 industries [7] - The Zacks Industry Rank measures the strength of industry groups based on the average Zacks Rank of individual stocks, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [7]

Refiners Investment Strategy - The company is increasing exposure to refiners due to a seasonally strong period and the outperformance of reformulated gasoline and heating oil relative to crude oil [1][2] - Investment is spread across three refiner names: Phillips (PSX), Marathon Petroleum (MPC), and Valero (VLOO) to avoid isolating risk to a single company [3] Market Performance - Crude oil is down 5% year-to-date, while reformulated gasoline and heating oil prices are higher [2] - Baker Hughes' target price was raised by Morgan Stanley by $10, from $45 to $55 [3] - Baker Hughes is up 11% year-to-date [3] Baker Hughes' Strategy - Baker Hughes made an acquisition with Chart Industries to increase exposure to data centers and LNG [4] - Baker Hughes is diversifying away from oil and moving towards electricity [4]

Core Viewpoint - Marathon Petroleum's stock performance has outpaced the broader market, with a recent gain of 6.03% compared to the Oils-Energy sector's loss of 3.19% and the S&P 500's gain of 5.88% [1][2] Financial Performance - The upcoming earnings report is expected to show an EPS of $3.18, reflecting a 22.82% decline year-over-year, with projected revenue of $30.91 billion, down 19.43% from the prior-year quarter [2] - For the entire year, earnings are forecasted at $7.08 per share and revenue at $124.6 billion, indicating declines of 25.55% and 11.26% respectively compared to the previous year [3] Analyst Estimates - Recent changes in analyst estimates are crucial as they reflect the shifting dynamics of the business [4] - The Zacks Rank system, which incorporates these estimate changes, currently ranks Marathon Petroleum at 3 (Hold) [6] Valuation Metrics - Marathon Petroleum has a Forward P/E ratio of 24.74, which is higher than the industry's Forward P/E of 17.68 [7] - The company also has a PEG ratio of 3.39, compared to the industry average of 1.64, indicating a premium valuation relative to expected earnings growth [7] Industry Context - The Oil and Gas - Refining and Marketing industry is currently ranked 198 out of over 250 industries, placing it in the bottom 20% [8] - The Zacks Industry Rank suggests that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

Investment Returns - The total return on the Fund's net asset value for the first half of 2025 was 2.3%, with dividends and capital gains reinvested [1] - The S&P Energy Sector and the S&P 500 Materials Sector had returns of 0.8% and 6.0%, respectively, while the benchmark (S&P 500 Energy Sector 80% and S&P 500 Materials Sector 20%) returned 1.8% [1] - The total return on the Fund's market price for the same period was 3.1% [1] Annualized Comparative Returns - For the 1-year period, the Fund's net asset value (NAV) decreased by 2.2%, while the market price increased by 1.7% [4] - Over 3 years, the NAV returned 10.7% and the market price returned 12.3% [4] - The 5-year returns were 21.2% for NAV and 22.1% for market price, while the 10-year returns were 6.1% for NAV and 6.8% for market price [4] Net Asset Value - As of June 30, 2025, the Fund's net assets were $634.74 million, down from $689.99 million a year earlier [6] - The number of shares outstanding increased to 26,888,697 from 25,453,641 [6] - The net asset value per share decreased to $23.61 from $27.11 [6] Largest Equity Portfolio Holdings - The top ten equity holdings accounted for 62.9% of net assets, with Exxon Mobil Corporation at 22.7% and Chevron Corporation at 11.5% [7] - Other significant holdings included ConocoPhilips (5.3%), Linde plc (4.7%), and EOG Resources, Inc. (3.8%) [7] Industry Weightings - The Fund's net assets were allocated primarily to the energy sector, with Integrated Oil & Gas at 35.1% and Exploration & Production at 19.8% [9] - Other allocations included Storage & Transportation (11.6%), Chemicals (13.6%), and Metals & Mining (3.6%) [10]

Core Viewpoint - Marathon Petroleum (MPC) has been a highly searched stock, indicating potential interest and volatility in its performance [1] Group 1: Stock Performance - Over the past month, Marathon Petroleum shares have returned +4.9%, slightly underperforming the Zacks S&P 500 composite's +5.1% and the Zacks Oil and Gas - Refining and Marketing industry's +6.9% [2] - The future direction of the stock is uncertain, influenced by both media reports and fundamental factors that drive long-term investment decisions [2] Group 2: Earnings Estimates - The expected earnings for the current quarter are $3.42 per share, reflecting a year-over-year decline of -17% [5] - The consensus earnings estimate for the current fiscal year is $6.98, indicating a year-over-year change of -26.6% [5] - For the next fiscal year, the consensus earnings estimate is $11.49, representing a significant increase of +64.6% from the previous year [6] Group 3: Revenue Growth - The consensus sales estimate for the current quarter is $30.91 billion, showing a year-over-year decline of -19.4% [11] - The revenue estimates for the current and next fiscal years are $124.6 billion and $122.6 billion, indicating changes of -11.3% and -1.6%, respectively [11] Group 4: Recent Results and Surprises - In the last reported quarter, Marathon Petroleum generated revenues of $31.85 billion, a year-over-year decrease of -4.1% [12] - The EPS for the same period was -$0.24, compared to $2.78 a year ago, but the company beat the Zacks Consensus Estimate for revenues by +5.86% and for EPS by +61.9% [12][13] Group 5: Valuation - Marathon Petroleum's valuation metrics suggest it is trading at a discount to its peers, receiving a Zacks Value Style Score of B [17] - The assessment of valuation multiples such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) is crucial for determining the stock's intrinsic value [15][16] Group 6: Conclusion - The information presented may assist in evaluating the market interest surrounding Marathon Petroleum, with a Zacks Rank of 3 indicating it may perform in line with the broader market in the near term [18]

Company Insights - Marathon Petroleum Corporation (MPC) reported first-quarter total revenues and other income of $31.85 billion, exceeding the consensus estimate of $29.58 billion [1] - The adjusted EPS loss for Marathon Petroleum was $(0.24), an improvement from $(2.58) a year earlier, and better than the analyst consensus estimate of $(0.53) [1] - Aurora Innovation posted a first-quarter GAAP loss of 12 cents per share, which was in line with estimates [2] - QXO, Inc. proposed to acquire GMS for $95.20 per share in cash [2] - Toast (TOST) received a Buy rating from Truist Securities analyst Matthew Coad, with a price target of $48 [3] Stock Performance - Marathon Petroleum shares increased by 1.1% to settle at $167.52 [6] - Aurora Innovation shares rose by 2.1% to close at $5.40 [6] - QXO shares gained 1.4% to settle at $24.12 [6] - Toast shares experienced a 2.4% increase, closing at $42.49 [6]

Company Performance - Marathon Petroleum's stock increased by 1.13% to $167.57, outperforming the S&P 500's daily gain of 0.8% [1] - Over the last month, Marathon Petroleum's shares rose by 4.46%, compared to the Oils-Energy sector's gain of 3.8% and the S&P 500's gain of 5.12% [1] Earnings Projections - The company is expected to report earnings of $3.38 per share on August 5, 2025, reflecting a year-over-year decline of 17.96% [2] - The Zacks Consensus Estimate for revenue is projected at $30.91 billion, down 19.43% from the previous year [2] - For the entire fiscal year, earnings are projected at $6.95 per share and revenue at $124.6 billion, representing declines of 26.92% and 11.26%, respectively [3] Analyst Estimates - Recent modifications to analyst estimates for Marathon Petroleum indicate shifting short-term business dynamics, with positive revisions suggesting a favorable outlook on business health and profitability [4] - The Zacks Rank system, which assesses these estimate changes, currently ranks Marathon Petroleum at 3 (Hold) [6] Valuation Metrics - Marathon Petroleum has a Forward P/E ratio of 23.84, indicating a premium compared to its industry's Forward P/E of 17.55 [7] - The company has a PEG ratio of 3.27, while the average PEG ratio for the Oil and Gas - Refining and Marketing industry is 1.57 [7] Industry Context - The Oil and Gas - Refining and Marketing industry is ranked 149 in the Zacks Industry Rank, placing it in the bottom 40% of over 250 industries [8]

Group 1 - Madison Pacific Properties Inc. held its Annual General Meeting on June 19, 2025, in Vancouver, British Columbia [1] - Five nominees were re-elected as directors with overwhelming support, each receiving 99.99% of the votes for their re-election [1] - PricewaterhouseCoopers LLP was re-appointed as the auditor for Madison Pacific Properties Inc. [1] Group 2 - Madison Pacific Properties Inc. is a real estate company based in Vancouver [2]