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Dec 31, 2024
Marathon Petroleum Q4 2024 Earnings Report
Marathon Petroleum's Q4 2024 performance was marked by a net income of $371 million, with adjusted EBITDA at $2.1 billion, despite lower market crack spreads impacting refining margins.
Key Takeaways
Marathon Petroleum Corp. reported a net income of $371 million for the fourth quarter of 2024, a decrease compared to the $1.5 billion reported in the same quarter of 2023. Adjusted EBITDA for the quarter was $2.1 billion, also lower than the $3.6 billion reported in the prior year. The company returned approximately $1.6 billion of capital to shareholders during the quarter through share repurchases and dividends.
Net income attributable to MPC was $371 million, or $1.15 per diluted share.
Adjusted net income was $249 million, or $0.77 per diluted share.
Adjusted EBITDA was $2.1 billion.
The company returned approximately $1.6 billion of capital to shareholders through share repurchases and dividends.
Forward Guidance
MPC's standalone capital spending outlook for 2025 is $1.25 billion, with approximately 70% focused on value-enhancing capital and 30% on sustaining capital. MPLX's capital spending outlook for 2025 is $2.0 billion.
Positive Outlook
- Continued high return investments at its Los Angeles, Galveston Bay and Robinson refineries.
- Executing shorter-term projects that offer high returns through margin enhancement and cost reduction.
- Expanding its Permian to Gulf Coast integrated value chain.
- Progressing long-haul pipeline growth projects to support expected increased producer activity.
- Investing in Permian and Marcellus processing capacity in response to producer demand.
Challenges Ahead
- No specific negatives were mentioned in the provided text.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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