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Investing.com - Marathon Petroleum Corp. (NYSE:MPC) reported first-quarter results on Tuesday that fell short of earnings expectations but beat on revenue, as the company executed its second-largest planned maintenance quarter in its history.
The stock rose 1.5% following the announcement.
The oil refiner posted a net loss of $74 million, or -$0.24 per diluted share, for the first quarter of 2025, compared to net income of $937 million, or $2.58 per diluted share, in the same period last year.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at $2.0 billion, down from $3.3 billion in the first quarter of 2024.
Revenue for the quarter totaled $31.85 billion, surpassing the analyst consensus estimate of $31.71 billion. However, the company’s earnings per share of -$0.24 missed analyst expectations of $0.18 by $0.42.
Marathon Petroleum’s President and CEO Maryann Mannen commented on the results, stating, "Our first quarter results reflect the safe and successful execution of the second largest planned maintenance quarter in our company’s history and strong commercial performance."
During the quarter, Marathon Petroleum returned $1.3 billion to shareholders, including $1.1 billion in share repurchases.
The company expressed optimism about its refining business, expecting seasonal trends to improve margins and maintaining a constructive long-term outlook for the segment.
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