Core Insights - Marathon Petroleum experienced a significant decline in revenue and earnings in Q4, with adjusted EPS falling nearly 81% year over year to $0.77 and revenue decreasing 8.6% to $33.14 billion [2][3] Financial Performance - Adjusted EPS for Q4 2024 was $0.77 compared to $3.98 in Q4 2023, reflecting an 80.7% decrease [3] - Revenue dropped from $36.26 billion in Q4 2023 to $33.14 billion in Q4 2024, a decline of 8.6% [3] - Adjusted net income fell to $249 million from $1.505 billion, marking an 83.5% decrease [3] - Adjusted EBITDA decreased from $3.57 billion to $2.12 billion, a reduction of 40.6% [3] Business Overview - Marathon Petroleum operates one of the largest refining systems in the U.S., with a capacity to process approximately 3 million barrels of crude oil daily [4] - The company has an integrated network of refineries across the Gulf Coast, Mid-Continent, and West Coast regions, optimizing operations for efficient production [4] Strategic Focus Areas - The company emphasizes refining capacity and operational efficiency to maintain low production costs and high profit margins [5] - A partnership with midstream spin-off MPLX is crucial for providing infrastructure for crude oil and product transportation, enhancing flexibility and geographic reach [5] - The strategic shift towards renewable fuels indicates a significant step towards future growth [5] Segment Performance - The Refining and Marketing segment's adjusted EBITDA plummeted to $559 million from $2.25 billion, largely due to lower market crack spreads [6] - The Midstream segment achieved an adjusted EBITDA of $1.7 billion, up from $1.6 billion, driven by increased rates and volumes [7] - The Renewable Diesel segment improved its adjusted EBITDA to $28 million from a loss of $47 million, attributed to heightened utilization rates at the Martinez joint venture [7] Shareholder Returns - The company returned $10.2 billion to shareholders in 2024 through dividends and share buybacks, demonstrating a commitment to shareholder value [8] - There were no significant changes in dividends reported for this quarter, with a focus on strategic investments and operational resilience [9] Future Outlook - For 2025, Marathon's management plans a capital spending of $1.25 billion to enhance refining efficiency in key locations [10] - The strategy aims to maintain a competitive advantage by pursuing high-return projects that support long-term goals [10] - Investors are encouraged to monitor the midstream and renewable segments for potential growth, particularly in renewable energy infrastructures like the Martinez joint venture [11]

Earnings Performance - Marathon Petroleum reported quarterly earnings of $0.77 per share, significantly exceeding the Zacks Consensus Estimate of $0.06 per share, but down from $3.98 per share a year ago, representing an earnings surprise of 1,183.33% [1] - The company has surpassed consensus EPS estimates for the last four quarters [2] Revenue Insights - The company posted revenues of $33.47 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 8.93%, but down from $36.82 billion year-over-year [2] - Marathon Petroleum has also topped consensus revenue estimates in each of the last four quarters [2] Stock Performance - Since the beginning of the year, Marathon Petroleum shares have increased by approximately 5.4%, outperforming the S&P 500's gain of 1.9% [3] Future Outlook - The company's earnings outlook will be crucial for assessing future stock performance, including current consensus earnings expectations for upcoming quarters [4] - The current consensus EPS estimate for the next quarter is $0.67 on revenues of $30.43 billion, and for the current fiscal year, it is $8.78 on revenues of $123.3 billion [7] Industry Context - The Oil and Gas - Refining and Marketing industry is currently ranked in the bottom 27% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor decisions [5]

Financial Performance - For Q4 2024, net income attributable to Marathon Petroleum Corp. (MPC) was $371 million, or $1.15 per diluted share, down from $1.5 billion, or $3.84 per diluted share in Q4 2023[2]. - Adjusted net income for Q4 2024 was $249 million, or $0.77 per diluted share, compared to $1.5 billion, or $3.98 per diluted share in Q4 2023[3]. - Adjusted EBITDA for Q4 2024 was $2.1 billion, a decrease from $3.6 billion in Q4 2023[4]. - For the full year 2024, net income attributable to MPC was $3.4 billion, or $10.08 per diluted share, down from $9.7 billion, or $23.63 per diluted share in 2023[5]. - Adjusted net income attributable to MPC for Q4 2024 was $249 million, down from $1,505 million in Q4 2023, a decrease of 83.5%[43]. - Adjusted EBITDA for the twelve months ended December 31, 2024, was $11,323 million, down from $19,075 million in 2023[46]. Shareholder Returns - The company returned $10.2 billion to shareholders in 2024 through share repurchases and dividends[6]. Segment Performance - The Midstream segment adjusted EBITDA increased to $1.7 billion in Q4 2024, compared to $1.6 billion in Q4 2023, driven by higher rates and volumes[11]. - The Renewable Diesel segment adjusted EBITDA improved to $28 million in Q4 2024, up from a loss of $47 million in Q4 2023[12]. - Refining & Marketing segment adjusted EBITDA for Q4 2024 was $559 million, compared to $2,248 million in Q4 2023[48]. - Renewable Diesel segment adjusted EBITDA for Q4 2024 was $28 million, an improvement from a loss of $47 million in Q4 2023[50]. Revenue and Costs - Total revenues for Q4 2024 were $33,466 million, a decrease of 9.2% from $36,823 million in Q4 2023[29]. - Total costs and expenses for Q4 2024 were $32,325 million, a decrease of 6.1% from $34,428 million in Q4 2023[29]. - Capital expenditures for Q4 2024 totaled $921 million, an increase of 18.1% from $780 million in Q4 2023[30]. Refining and Marketing Metrics - Refining & Marketing margin for Q4 2024 was $12.93 per barrel, a decrease of 27.5% from $17.81 per barrel in Q4 2023[31]. - Refining & Marketing refined product sales volume for Q4 2024 was 3,747 mbpd, an increase of 4.6% from 3,583 mbpd in Q4 2023[32]. - Crude oil refining capacity utilization for Q4 2024 was 94%, up from 91% in Q4 2023[32]. - Refining & Marketing gross margin for the twelve months ended December 31, 2024, was $4,717 million, significantly lower than $12,050 million in 2023[48]. - Refining & Marketing margin for Q4 2024 was $3,460 million, down from $4,947 million in Q4 2023[48]. - Refining & Marketing margin by region for Q4 2024: Gulf Coast $1,483 million, Mid-Continent $1,207 million, West Coast $770 million[48]. Cash and Debt - As of December 31, 2024, MPC had $3.2 billion in cash and cash equivalents, including $1.5 billion at MPLX[14]. - Cash and cash equivalents decreased to $3,210 million as of December 31, 2024, down from $4,002 million as of September 30, 2024, a decline of 19.7%[40]. - Total consolidated debt was $27,481 million as of December 31, 2024, a decrease from $28,220 million as of September 30, 2024, a reduction of 2.6%[40]. Capital Spending Outlook - MPC's standalone capital spending outlook for 2025 is $1.25 billion, with 70% focused on value-enhancing capital[16]. - MPLX's capital spending outlook for 2025 is $2.0 billion, supporting expansion projects in the Permian and Gulf Coast regions[17]. Asset Disposal and Acquisitions - Net gain on disposal of assets for Q4 2024 was $11 million, a significant decrease from $91 million in Q4 2023[29]. - The twelve months ended December 31, 2024 included $228 million related to acquisitions of additional interests in BANGL, LLC and Wink to Webster Pipeline LLC[30]. Regional Performance - Gulf Coast Region's gross refinery throughputs increased to 1,376 mbpd in Q4 2024 from 1,330 mbpd in Q4 2023, representing a growth of 3.5%[36]. - Mid-Continent Region's refining & marketing margin decreased to $11.31 per barrel in Q4 2024 from $17.75 per barrel in Q4 2023, a decline of 36.5%[36]. - West Coast Region's refining & marketing margin also decreased to $15.70 per barrel in Q4 2024 from $24.53 per barrel in Q4 2023, a drop of 36.1%[37]. Renewable Diesel Performance - Renewable Diesel margin, excluding LIFO inventory credit, rose to $82 million in Q4 2024 from $58 million in Q4 2023, a growth of 41.4%[39]. - Renewable Diesel gross margin for the twelve months ended December 31, 2024, was a loss of $286 million, compared to a loss of $109 million in 2023[50]. - Renewable Diesel margin for Q4 2024 was $137 million, up from $70 million in Q4 2023[50].

FINDLAY, Ohio, Feb. 4, 2025 /PRNewswire/ -- Fourth-quarter net income attributable to MPC of $371 million, or $1.15 per diluted share; adjusted net income of $249 million, or $0.77 per adjusted diluted share Progresses Midstream Gulf Coast NGL strategy with MPLX's announcement of fractionation complex and export terminal $10.2 billion of capital returned to shareholders through share repurchases and dividends in 2024 Expect distributions from MPLX in 2025 will cover MPC's dividends and $1.25 billion standal ...

Marathon Petroleum Corporation (MPC) is set to release fourth-quarter earnings on Feb. 4. The Zacks Consensus Estimate for the to-be-reported quarter's profit is pegged at 37 cents per share on revenues of $30.72 billion.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Let us delve into the factors that might have influenced MPC’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter. Highlights of MP ...

The market expects Marathon Petroleum (MPC) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be re ...

VANCOUVER, British Columbia, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Madison Pacific Properties Inc. (the Parent Company) (TSX: MPC and MPC.C), a Vancouver-based real estate company announces judgement issued by the Federal Court of Appeal (“FCA”) on its tax reassessments appeal. As previously reported in the Parent Company’s Consolidated Financial Statements and MD&A, the Parent Company and certain subsidiaries had received from the Canada Revenue Agency (“CRA”) and Alberta Tax and Revenue Administration (“ATRA” ...

FINDLAY, Ohio, Jan. 24, 2025 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) announced today that its annual meeting of shareholders will take place April 30, 2025, at 10 a.m. ET in a virtual-only format via live webcast. Shareholders of record as of March 3, 2025, are entitled to notice of and to vote at the annual meeting. The company's proxy statement will include additional information regarding how shareholders may access and participate in the virtual annual meeting.About Marathon Petroleum Corpo ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Marathon Petroleum (MPC) , which belongs to the Zacks Oil and Gas - Refining and Marketing industry.This refiner has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 64.15%.For the most recent quarter, Marathon Petroleum was expected to post earnings of $0 ...

Marathon Petroleum (MPC) closed the latest trading day at $140.53, indicating a -1.55% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.55%. On the other hand, the Dow registered a loss of 0.06%, and the technology-centric Nasdaq increased by 1.24%.Market participants will be closely following the financial results of Marathon Petroleum in its upcoming release. The company plans to announce its earnings on February 4, 2025. On that day, Marathon Petroleum is projected ...