Marathon Petroleum said net income attributable to MPC for Q1 2025 decreased $1.01 billion compared to Q1 2024, citing lower Refining & Marketing margins as the primary factor.

10-QQuarterly reportFiled May 6, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

Marathon Petroleum said net income attributable to MPC for Q1 2025 decreased $1.01 billion compared to Q1 2024, citing lower Refining & Marketing margins as the primary factor.
The company said Refining & Marketing segment adjusted EBITDA decreased $1.50 billion in Q1, resulting in $1.91 per barrel compared to $8.22 in the prior-year quarter, and Refining & Marketing margin was $13.38 per barrel compared to $19.35 in the prior-year quarter.
Marathon Petroleum said net cash provided by operating activities for the first 3 months of 2025 decreased $1.60 billion compared to the prior-year period, attributing the change to decreased operating results and an unfavorable change in working capital of $685 million.
The company said MPC issued $2.0 billion in aggregate principal amount of senior notes on February 10, 2025, and MPLX issued $2.0 billion aggregate principal amount of senior notes on March 10.

Key figures

Quarter ended March 31, 2025

Revenue: $31.5B
Operating income: $687M
Net income: −$74M
EPS: −$0.24
Operating cash flow: −$64M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

MPC Net Income Attributable to MPC Decreased $1.01 billion

Marathon Petroleum said net income attributable to MPC for Q1 2025 decreased $1.01 billion compared to Q1 2024, citing lower Refining & Marketing margins as the primary factor.

Source · Based on the MD&A text of the filing

Refining & Marketing Margin and Adjusted EBITDA Changes

The company said Refining & Marketing segment adjusted EBITDA decreased $1.50 billion in Q1, resulting in $1.91 per barrel compared to $8.22 in the prior-year quarter, and Refining & Marketing margin was $13.38 per barrel compared to $19.35 in the prior-year quarter.

Source · Based on the MD&A text of the filing

Operating Cash Flow Decreased $1.60 billion

Marathon Petroleum said net cash provided by operating activities for the first 3 months of 2025 decreased $1.60 billion compared to the prior-year period, attributing the change to decreased operating results and an unfavorable change in working capital of $685 million.

Source · Based on the MD&A text of the filing

MPC and MPLX Issue Senior Notes

The company said MPC issued $2.0 billion in aggregate principal amount of senior notes on February 10, 2025, and MPLX issued $2.0 billion aggregate principal amount of senior notes on March 10.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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