Core Viewpoint - Marathon Petroleum (NYSE: MPC) shares have underperformed over the past year due to a weakening refining cycle, but have recently rebounded strongly as crack spreads have improved [1] Company Performance - The shares of Marathon Petroleum have shown a significant recovery from their lows, indicating a potential turnaround in performance [1] Market Conditions - The refining cycle has been weak, impacting the overall performance of companies in this sector, including Marathon Petroleum [1]

VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- Madison Pacific Properties Inc. (the Company) (TSX: MPC and MPC.C), a Vancouver-based real estate company announces the results of operations for the three months ended March 31, 2025. In July 2024, the Company’s Board of Directors approved a change of financial year-end of the Company from August 31 to December 31. This change of year-end is effective for the financial year commencing September 1, 2024. The comparative figures presented for the ...

Independent oil refiner and marketer Marathon Petroleum Corporation (MPC) reported a first-quarter 2025 adjusted loss per share of 24 cents, narrower than the Zacks Consensus Estimate of a loss of 63 cents. This primarily reflects the stronger-than-expected performance of its Refining & Marketing segment. The adjusted EBITDA of the segment totaled $489 million, surpassing the consensus mark of $286 million on the back of lower costs and higher throughput.However, the company’s bottom line fell sharply from ...

Marathon Petroleum (MPC) reported $31.85 billion in revenue for the quarter ended March 2025, representing a year-over-year decline of 4.1%. EPS of -$0.24 for the same period compares to $2.78 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $30.09 billion, representing a surprise of +5.86%. The company delivered an EPS surprise of +61.90%, with the consensus EPS estimate being -$0.63.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

Financial Performance - Total reportable segments' adjusted EBITDA was $2,167 million in Q1 2025, down from $3,485 million in Q1 2024 [118]. - Net loss attributable to the company was $74 million, or $(0.24) per diluted share, for Q1 2025, compared to net income of $937 million, or $2.58 per diluted share, in Q1 2024 [119]. - Total revenues and other income decreased by $1.36 billion to $31.85 billion in Q1 2025 compared to Q1 2024 [136]. - Net income attributable to MPC decreased by $1.01 billion to a loss of $74 million in Q1 2025, primarily due to lower Refining & Marketing margins [137]. - Refining & Marketing segment revenues decreased by $1.52 billion, driven by a $0.22 per gallon decrease in average refined product sales prices, despite a 204 mbpd increase in sales volumes [149]. - Refining & Marketing segment adjusted EBITDA decreased by $1.50 billion to $1.91 per barrel in Q1 2025, down from $8.22 per barrel in Q1 2024 [150]. - Net cash provided by operating activities decreased by $1.60 billion in Q1 2025 compared to Q1 2024, primarily due to a decrease in operating results and an unfavorable change in working capital of $685 million [177]. Refining & Marketing Segment - Segment adjusted EBITDA for Refining & Marketing decreased to $489 million in Q1 2025 from $1,986 million in Q1 2024, reflecting a lower refining margin environment [118]. - Refining & Marketing margin per barrel decreased to $13.38 in Q1 2025 from $19.35 in Q1 2024 [147]. - Refining & Marketing margin decreased to $13.38 per barrel in Q1 2025 from $19.35 per barrel in Q1 2024, with an estimated net negative impact of approximately $1.7 billion due to lower crack spreads [151]. - Refining operating costs, excluding depreciation and amortization, increased by $7 million primarily due to higher energy costs, while costs decreased by $0.32 per barrel due to higher throughput [152]. - Refining planned turnaround costs decreased by $193 million, or $0.91 per barrel, due to the scope and timing of turnaround activity [154]. Capital Expenditures and Investments - Total capital expenditures in Q1 2025 were $644 million, up from $511 million in Q1 2024, with additions to property, plant, and equipment at $663 million [182]. - MPC's capital investment outlook for 2025 is approximately $1.25 billion, excluding capitalized interest and potential acquisitions [204]. - Capital expenditures for MPC, excluding MPLX, were $377 million in Q1 2025, compared to $299 million in Q1 2024, indicating a 26% increase [206]. - Cash used for common stock repurchases was $1.06 billion in Q1 2025, down from $2.22 billion in Q1 2024, reflecting a decrease in repurchase activity [185]. - Cash used in acquisitions amounted to $237 million in Q1 2025, related to the Midstream segment [184]. MPLX and Midstream Operations - The company owned approximately 647 million MPLX common units valued at $34.65 billion as of March 31, 2025 [121]. - MPLX declared a quarterly cash distribution of $0.9565 per common unit, with the company's portion amounting to approximately $619 million [121]. - MPLX acquired gathering businesses from Whiptail Midstream for $237 million, enhancing its strategic relationship with MPC [114]. - MPLX entered into an agreement to acquire the remaining 55% interest in BANGL, LLC for $715 million, with an additional earnout provision of up to $275 million based on EBITDA growth [113]. - Midstream segment adjusted EBITDA increased by $131 million, mainly due to increased sales and operating revenues of $286 million from fee escalations and higher throughputs [162]. Liquidity and Financial Position - The consolidated cash and cash equivalents balance increased to approximately $3.81 billion at March 31, 2025, compared to $3.21 billion at December 31, 2024 [175]. - Total liquidity for MPC, excluding MPLX, was $6.38 billion as of March 31, 2025, consisting of $4.999 billion available under the bank revolving credit facility and $1.278 billion in cash and cash equivalents [188]. - MPLX's liquidity totaled $6.03 billion at March 31, 2025, including $2.534 billion in cash and cash equivalents [197]. - Long-term debt borrowings and repayments provided a net cash source of $3.41 billion in Q1 2025, compared to a net cash use of $17 million in Q1 2024 [185]. Regulatory and Market Outlook - The company expects to evaluate the impact of California's SB X1-2 and AB X2-1 regulations on its future operations and results [112]. - The refining margin environment is expected to remain lower in the near term, but long-term global demand growth is anticipated to outpace capacity additions through the end of the decade [109].

Marathon Petroleum (MPC) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Company Participants Kristina Kazarian - Vice President, Investor RelationsMaryann Mannen - President & CEOJohn Quaid - Executive VP & CFORick Hessling - Chief Commercial OfficerManav Gupta - Executive DirectorJohn Royall - Executive DirectorMatthew Blair - Managing DirectorJames Wilkins - Senior Vice President of Health, Environment, Safety & Security Conference Call Participants Neil Mehta - AnalystDoug Leggate - Managing Director - S ...

Financial Data and Key Metrics Changes - The company reported a first quarter net loss of $0.24 per share, with adjusted EBITDA approximately $2,000,000,000, which decreased sequentially by $145,000,000 due to lower results in refining and marketing and renewable diesel segments [18][19] - The company returned over $1,300,000,000 to shareholders through dividends and repurchases during the quarter [18] - Operating cash flow excluding changes in working capital was $1,000,000,000 for the quarter, driven by the strength and growth of the midstream business [23] Business Line Data and Key Metrics Changes - Refining utilization was at 89%, processing 2,600,000 barrels of crude per day, with significant planned turnaround activity particularly in the Gulf Coast region [4][19] - The Midstream segment adjusted EBITDA grew 8% year over year, with $619,000,000 received from MPLX, a 12.5% increase compared to the previous year [20][21] - The renewable diesel segment faced challenges with a 70% utilization rate due to unplanned downtime, but actions are being taken to optimize production [21][22] Market Data and Key Metrics Changes - Refined product inventories have drawn for the ninth straight week and are below the five-year average, which, along with lower retail prices, is expected to support demand during the summer driving season [6][7] - The company anticipates around 800,000 barrels per day coming offline across several refineries in the U.S. and Europe this year, which could strengthen margins [7][10] Company Strategy and Development Direction - The company is progressing a $1,250,000,000 standalone capital plan for 2025, with 70% targeted on high-return projects [12] - Investments are being made in the fully integrated West Coast value chain, particularly in the Los Angeles refinery, to improve reliability and energy efficiency [8][9] - The company aims to leverage its geographic diversification and integrated refining system to deliver peer-leading cash generation [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding demand, noting steady year-over-year demand for gasoline and growth in diesel and jet fuel, with no signs of an economic slowdown [36][37] - The company believes that the U.S. refining industry will remain structurally advantaged due to locational advantages and flexibility in refining systems [10][11] - Management is focused on optimizing operations and capital allocation to enhance competitiveness and deliver strong financial performance [28][29] Other Important Information - The company is managing its balance sheet to maintain an investment-grade credit profile, with a minimum target of $1,000,000,000 in cash [24][25] - The company has a strong liquidity position with $3,800,000,000 in consolidated cash and undrawn credit facilities of $5,000,000,000 [25] Q&A Session Summary Question: Demand perspective and economic slowdown - Management noted refined cracks have improved, indicating a seasonal uptick in demand, with overall utilization projected at 94% for the second quarter [34][35] Question: West Coast outlook and political environment - Management highlighted investments in the LA asset and the competitive advantage of their integrated operations, while monitoring regulatory changes closely [40][42] Question: Capture rates and commercial performance - Management emphasized the importance of commercial performance and sustainable advantages built over the years, aiming for capture rates approaching 100% [55][58] Question: Crude quality discounts and OPEC volumes - Management expressed optimism regarding benefits from heavy crude processing, anticipating discounts to improve due to OPEC's increased volumes [74][75] Question: Midstream growth and distribution sustainability - Management confirmed a durable growth outlook for MPLX distributions, supported by ongoing projects and capital discipline [78][82] Question: Renewable diesel profitability and operational reliability - Management is focused on optimizing operations and addressing challenges from Q1, with expectations for an EBITDA positive quarter in Q2 [120][121]

May 6, 2025 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements regarding MPC. These forward-looking statements may relate to, among other things, MPC's expectations, estimates and projections concerning its business and operations, financial priorities, strategic plans and initiatives, capital return plans, capital expenditure plans, operating cost reduction objectives, and environmental, social and governance ("ESG") plans and goals, including those related to greenhouse gas e ...

Exhibit 99.1 Marathon Petroleum Corp. Reports First-Quarter 2025 Results FINDLAY, Ohio, May 6, 2025 – Marathon Petroleum Corp. (NYSE: MPC) today reported net loss attributable to MPC of $(74) million, or $(0.24) per diluted share, for the first quarter of 2025, compared with net income attributable to MPC of $937 million, or $2.58 per diluted share, for the first quarter of 2024. The first quarter of 2025 adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA) was $2.0 bil ...

FINDLAY, Ohio, May 6, 2025 /PRNewswire/ -- First-quarter net loss attributable to MPC of $(74) million, or $(0.24) per diluted share mainly due to execution of second largest planned maintenance quarter in MPC history $2.0 billion of adjusted EBITDA, supported by the strength of the Midstream business Executing Natural Gas & NGL growth strategy with MPLX's agreement to acquire 100% ownership in BANGL, LLC and FID of the Traverse natural gas pipeline $1.3 billion of capital returned, inclusive of $1.1 billio ...