Marathon Petroleum posted a net loss in Q1 2025 as it executed the second-largest planned maintenance program in its history. However, the midstream segment delivered solid results, supported by strategic pipeline expansions and acquisitions.
Reported a net loss of $74 million driven by extensive turnaround activity in refining.
Midstream segment EBITDA grew 8% year-over-year due to higher throughputs.
Adjusted EBITDA came in at $2.0 billion, primarily supported by Midstream operations.
Returned $1.3 billion to shareholders, including $1.1 billion in share repurchases.
Marathon expects seasonal improvement in refining margins and continued strength in Midstream, with key projects targeting enhanced energy efficiency and expanded pipeline capacity.
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