Marathon PetroleumMPCEarnings & Financial Report
Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.
Revenue
$32.7B
Gross Profit
$3.1B
Operating Profit
$1.8B
Net Profit
$937.0M
Gross Margin
9.5%
Operating Margin
5.5%
Net Margin
2.9%
YoY Growth
-6.2%
EPS
$2.58
Marathon Petroleum Q1 FY2024 Financial Summary
Marathon Petroleum reported revenue of $32.7B (down 6.2% YoY) for Q1 FY2024, with a net profit of $937.0M (down 65.6% YoY) (2.9% margin). Cost of goods sold was $29.6B, operating expenses totaled $1.3B.
Key Financial Metrics
| Total Revenue | $32.7B |
|---|---|
| Net Profit | $937.0M |
| Gross Margin | 9.5% |
| Operating Margin | 5.5% |
| Report Period | Q1 FY2024 |
Revenue Breakdown
Marathon Petroleum Q1 FY2024 revenue of $32.7B breaks down across 5 segments, led by Refined Products at $29.2B (89.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Refined Products | $29.2B | 89.4% |
| Crude Oil | $1.8B | 5.5% |
| Midstream | $1.2B | 3.7% |
| Services & Other | $450.0M | 1.4% |
| Related Party | $271.0M | 0.8% |
Marathon Petroleum Revenue by Segment — Quarterly Trend
Marathon Petroleum revenue by segment across the last 4 reported quarters, showing how each business line (such as Refined Products and Crude Oil) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Refined Products | $28.6B | $30.5B | $29.9B | $27.4B |
| Crude Oil | $1.2B | $1.6B | $1.4B | $1.6B |
| Midstream | $1.4B | $1.4B | $1.3B | $1.4B |
| Services & Other | $466.0M | $536.0M | $464.0M | $465.0M |
| Related Party | $536.0M | $390.0M | $326.0M | $320.0M |
Marathon Petroleum Annual Revenue by Year
Marathon Petroleum annual revenue history includes year-by-year totals (for example, 2025 revenue was $132.7B).
| Year | Annual Revenue |
|---|---|
| 2025 | $132.7B |
| 2024 | $138.9B |
| 2023 | $148.4B |
| 2022 | $177.5B |
Marathon Petroleum Quarterly Revenue & Net Profit History
Marathon Petroleum results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $32.6B | -1.7% | $1.5B | 4.7% |
| Q3 FY2025 | $34.8B | -0.8% | $1.4B | 3.9% |
| Q2 FY2025 | $33.8B | -10.9% | $1.2B | 3.6% |
| Q1 FY2025 | $31.5B | -3.6% | $-74.0M | -0.2% |
| Q4 FY2024 | $33.1B | -8.6% | $371.0M | 1.1% |
| Q3 FY2024 | $35.1B | -14.2% | $622.0M | 1.8% |
| Q2 FY2024 | $37.9B | +4.3% | $1.5B | 4.0% |
| Q1 FY2024 | $32.7B | -6.2% | $937.0M | 2.9% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $32.71B | $37.91B | $35.11B | $33.14B | $31.52B | $33.80B | $34.81B | $32.57B |
| YoY Growth | -6.2% | 4.3% | -14.2% | -8.6% | -3.6% | -10.9% | -0.8% | -1.7% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $85.53B | $85.23B | $79.83B | $78.86B | $81.63B | $78.48B | $83.24B | $83.95B |
| Liabilities | $55.76B | $57.14B | $54.12B | $54.35B | $58.57B | $55.22B | $59.35B | $59.87B |
| Equity | $22.92B | $21.32B | $18.93B | $17.75B | $16.40B | $16.62B | $17.10B | $17.31B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $1.53B | $3.24B | $1.68B | $2.21B | $-64.0M | $2.64B | $2.61B | $3.07B |