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 - Suburban Propane Partners, L.P. is set to announce its Fiscal 2025 Third Quarter results on August 7, 2025, with a conference call for analysts and investors to discuss the results and business outlook [1]. Company Overview - Suburban Propane Partners, L.P. is a publicly traded master limited partnership listed on the NYSE, headquartered in Whippany, New Jersey, and has been in the customer service business since 1928 [3]. - The company distributes propane, renewable propane, renewable natural gas, fuel oil, and related products and services, serving approximately 1 million customers across 42 states through around 700 locations [3]. Core Pillars - The company is supported by three core pillars: 1. **Suburban Commitment** - Emphasizing a legacy of nearly 100 years and a commitment to high standards in customer service [4]. 2. **SuburbanCares** - Focusing on community engagement and giving back to local communities [4]. 3. **Go Green with Suburban Propane** - Promoting propane and renewable propane as clean energy alternatives and investing in innovative renewable energy solutions [4].

Company Overview - Suburban Propane Partners, L.P. is a publicly traded master limited partnership listed on the NYSE, headquartered in Whippany, New Jersey, and has been in the customer service business since 1928 [5] - The company distributes propane, renewable propane, renewable natural gas, fuel oil, and related products and services, and also markets natural gas and electricity, servicing approximately 1 million customers across 700 locations in 42 states [5] Community Engagement - Suburban Propane is the main sponsor of the Track to Table event, which merges NASCAR with fine dining and charitable giving, benefiting Speedway Children's Charities Sonoma [1][2] - The company emphasizes its commitment to community-focused initiatives through its SuburbanCares platform, aiming to support local organizations and programs that impact children and families in need [3][6] Event Highlights - The Track to Table event features a culinary experience with wine pairings from local wineries and an acoustic performance by country music artist Tim Dugger, along with a live charity auction [4] - The event is designed to celebrate the food and wine of Sonoma while supporting vulnerable children and families [4] Corporate Values - Suburban Propane operates under three core pillars: Suburban Commitment, SuburbanCares, and Go Green with Suburban Propane, focusing on customer service excellence, community support, and promoting renewable energy alternatives [6]

Group 1: Dividend Stocks Overview - In volatile markets, investors often seek the relative safety of dividend stocks, which provide income even when stock prices fluctuate [1] - The compounding effect of rising dividends combined with rising stock prices increases total return for investors [2] Group 2: Chesapeake Utilities - Chesapeake Utilities Corp. (NYSE: CPK) has a dividend yield of 2.23% and an annual dividend of $2.74, with a 21-year track record of dividend increases [3][4] - The company raised its dividend by approximately 7% in early May, with a payout ratio of around 43% based on next year's estimates, indicating potential for future growth [4] - Natural gas prices are expected to rise due to increasing demand, particularly from data centers, which supports the growth outlook for Chesapeake Utilities [5] Group 3: RTX - RTX (NYSE: RTX) has a dividend yield of 2.01% and an annual dividend of $2.72, with a 5-year track record of dividend increases [6][10] - The company raised its dividend by nearly 8% and has a consensus Buy rating with a price target of $159.82, indicating a 17.9% upside potential [7][8] - RTX is positioned well in the defense sector, focusing on future technologies like drones, which may mitigate concerns over current geopolitical issues [7] Group 4: Paychex - Paychex Inc. (NASDAQ: PAYX) has a dividend yield of 2.77% and an annual dividend of $4.32, with a 3-year track record of dividend increases [10][11] - The company raised its dividend by 10% in early May, with annualized three-year dividend growth at over 13% [11] - Despite a strong performance, the current stock price is near the top of its 52-week range, leading to concerns about potential growth opportunities [12][13]

Financial Data and Key Metrics Changes - The company reported a net income of $86 million for Q2 2025, an increase of $18 million compared to the prior year period, driven by a $32 million increase in adjusted EBITDA [9] - Adjusted EBITDA rose by $32 million to $128 million due to higher home heating oil and propane volumes sold and improved margins [9][11] - For the first half of fiscal 2025, net income was $119 million, up $37 million from the previous year, largely due to a $34.6 million increase in adjusted EBITDA [11] Business Line Data and Key Metrics Changes - Home heating oil and propane volume increased by 27 million gallons or 23% to 144 million gallons in Q2 2025, attributed to colder weather and acquisitions [7] - Product gross profit increased by $52 million or 25% to $258 million, driven by higher sales volumes and margins [8] - The service and installation business contributed an increase in adjusted EBITDA of $1.6 million [8] Market Data and Key Metrics Changes - Temperatures during Q2 2025 were 13% colder than the previous year but still 4.5% warmer than normal, impacting heating oil and propane demand [8] - For the first half of fiscal 2025, temperatures were 9.4% colder than the prior year, contributing to a 14.7% increase in home heating oil and propane volume [10] Company Strategy and Development Direction - The company has completed $126.5 million in acquisitions since February 2024, enhancing its market presence [5] - The company raised its annual dividend by $0.05 to $0.74 per unit, reflecting a commitment to maximizing shareholder returns [5] - There is a focus on operational execution and efficiency, alongside ongoing expansion in the HVAC business [6] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the team's response to increased demand due to colder temperatures and emphasized the importance of service quality [6] - The company anticipates opportunities for further investment in the summer and is focused on business development initiatives [6] Other Important Information - The company recorded a $3.1 million expense under its weather hedge for Q2 2025, compared to a benefit of $6.5 million in the same period last year [9] - Delivery, branch, and general & administrative expenses increased by $22 million year-over-year, with $9.6 million attributed to the weather hedging program [8] Q&A Session Summary Question: Any changes to the buyback program due to recent acquisitions? - Management stated there has been no change to the buyback program, which is currently on automatic pilot [16][17] Question: Are there any acquisitions in the HVAC installation servicing business? - Management indicated that the focus is primarily on distribution side acquisitions, with limited internal organic growth in HVAC [18] Question: Any changes in customers' ability to pay? - Historically, the bad debt rate has been around 3% of sales, and management noted that customers prioritize paying for home heating oil during winter [20] Question: Anticipated impact from tariffs on heating oil prices? - Management acknowledged price increases on HVAC parts and equipment due to tariffs, ranging from 3% to 15% [24] Question: Any changes in acquisition availability due to tax or other factors? - Management noted no significant changes related to taxes but mentioned a busy heating season and potential opportunities post-season [26]

Core Viewpoint - Suburban Propane Partners, L.P. is set to hold its Fiscal 2025 Second Quarter Results Conference Call on May 8, 2025, at 9:00 AM Eastern Time, inviting analysts and investors to discuss the results and business outlook [1]. Company Overview - Suburban Propane Partners, L.P. is a publicly traded master limited partnership listed on the NYSE, headquartered in Whippany, New Jersey, and has been in the customer service business since 1928 [3]. - The company distributes propane, renewable propane, renewable natural gas, fuel oil, and related products and services, serving approximately 1 million customers across 42 states through around 700 locations [3]. Core Pillars - Suburban Propane is supported by three core pillars: 1. **Suburban Commitment** - Emphasizing a legacy of nearly 100 years and a commitment to high standards in customer service [4]. 2. **SuburbanCares** - Highlighting the company's dedication to community engagement across its national footprint [4]. 3. **Go Green with Suburban Propane** - Promoting the clean-burning nature of propane and renewable propane as a bridge to a green energy future, while investing in innovative renewable energy alternatives [4].