Marathon Petroleum Q1 2021 Earnings Report

Marathon Petroleum reported a net loss of $242 million and adjusted EBITDA of $1.6 billion, driven by refining margin recovery and stability of the midstream business.

Key Takeaways

Marathon Petroleum Corp. reported a net loss of $242 million, or $(0.37) per diluted share, for the first quarter of 2021. Adjusted net loss was $132 million, or $(0.20) per diluted share. Adjusted EBITDA was $1.6 billion, driven by refining margin recovery and stability of midstream business.

Reported first-quarter loss of $242 million, or $(0.37) per diluted share, which includes pre-tax charges of $70 million; reported adjusted loss of $132 million, or $(0.20) per diluted share.

Reported adjusted EBITDA of $1.6 billion, driven by refining margin recovery, stability of midstream business, and continued focus to lower the overall cost structure.

Progressing renewables portfolio with final investment decision for Martinez conversion.

$21 billion Speedway sale close to completion.

Total Revenue

$22.9B

Previous year: $24.1B

-5.0%

EPS

-$0.2

Previous year: -$0.16

+25.0%

Gross Profit

$1.7B