Marathon Petroleum posts $74 million Q1 net loss on heavy maintenance costs
Marathon Petroleum Corp. (MPC) reported a first-quarter 2025 net loss attributable to MPC of $74 million, or $0.24 per diluted share, compared with net income of $937 million, or $2.58 per diluted share, a year earlier. The company attributed the loss mainly to its second-largest planned maintenance quarter in company history, and adjusted EBITDA fell to $2.0 billion from $3.3 billion, which weighs on earnings for shareholders even as the company returned $1.3 billion in capital during the quarter.
Key points
- Net loss attributable to MPC of $(74) million, or $(0.24) per diluted share, versus net income of $937 million, or $2.58 per diluted share, in Q1 2024.
- Adjusted EBITDA of $2.0 billion, down from $3.3 billion; Refining & Marketing segment adjusted EBITDA fell to $489 million from $1.986 billion, driven mainly by lower market crack spreads.
- Midstream segment adjusted EBITDA rose to $1.7 billion from $1.6 billion.
- Returned about $1.3 billion to shareholders in Q1, including $1.1 billion of share repurchases; $6.7 billion remained under share repurchase authorizations as of March 31, 2025.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:21 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 06, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.