Marathon Petroleum said net income attributable to MPC for Q3 2025 increased $748 million compared to Q3 2024. The company cited increased income from equity method investments of $757 million as a key factor, largely due to gains from the BANGL Acquisition of $484 million and the Ethanol Joint Venture Sale of $254 million.

1. 01

   Marathon Petroleum said net income attributable to MPC for Q3 2025 increased $748 million compared to Q3 2024. The company cited increased income from equity method investments of $757 million as a key factor, largely due to gains from the BANGL Acquisition of $484 million and the Ethanol Joint Venture Sale of $254 million.

2. 02

   Marathon Petroleum said Refining & Marketing segment adjusted EBITDA for Q3 2025 increased $626 million and was $6.37 per barrel, compared to $4.15 per barrel for Q3 2024. The company explained that increased per-barrel margins were the key factor, partially offset by increased refining operating and distribution costs.

3. 03

   Marathon Petroleum said net income attributable to MPC for the 9 months ended 2025 decreased $562 million compared to the 9 months ended 2024. Segment adjusted EBITDA for reportable segments was $9.09 billion for the 9 months ended 2025 and $9.80 billion for the 9 months ended 2024.

4. 04

   Marathon Petroleum said MPLX issued $4.5 billion in aggregate principal amount of senior notes on August 11, 2025, and on July 3, 2025 repaid approximately $656 million in principal and accrued interest on debt acquired in connection with the BANGL Acquisition using cash on hand.

Key figures

Quarter ended September 30, 2025

Revenue

$34.8B

Operating income

$2.7B

Net income

$1.4B

EPS

$4.51

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.

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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