Filing Flows › Marathon Petroleum (MPC) › Q1 2025
Marathon Petroleum (MPC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Marathon Petroleum (MPC) reported revenue of $31.5B for the first quarter 2025 (Q1 2025), -4% from a year earlier and -5% from the quarter before. Operating margin was 2.2%, net earnings $346M (1.1% of revenue).
Marathon Petroleum, Q1 2025: revenue $31.5B (-4% year over year), operating margin 2.2%, net earnings $346M, operating cash flow −$64.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $31.5B | -5% | -4% |
| Operating profit | $687M | -40% | -61% |
| Net earnings | $346M | -56% | -74% |
| Operating cash flow | −$64.0M | — | — |
What changed
Revenue was $31.5B in Q1 2025, down 4% year over year and down 5% from the previous quarter. Refining & Marketing was the largest line at 93% of revenue. Refining & Marketing lost $1.5B year over year (down 5%), 128% of the total change.
Operating profit was $0.69B, a 2.2% margin (down 3.3 points year over year). Total costs fell 0% while revenue fell 4%. The fastest-growing cost line was Other operating costs (+25%). Net earnings were −$0.07B. The effective tax rate was 9.7%.
Operating cash flow was −$0.06B. Non-cash charges added back $0.79B of depreciation and amortization. Working capital and other items used $1.2B. Capital expenditures of $0.66B exceeded it, leaving free cash flow of −$0.73B.
Questions
What was Marathon Petroleum's revenue in the first quarter 2025?
Marathon Petroleum (MPC) reported revenue of $31.5B for the first quarter 2025 (Q1 2025), -4% from a year earlier and -5% from the quarter before.
Was Marathon Petroleum profitable in the first quarter 2025?
Operating profit was $687M (2.2% of revenue) and net earnings $346M.
Source: Marathon Petroleum 10-Q on SEC EDGAR.