Welcome to our dedicated page for Marathon Pete news (Ticker: MPC), a resource for investors and traders seeking the latest updates and insights on Marathon Pete stock.
Marathon Petroleum Corporation reports news as an integrated downstream and midstream energy company with the nation's largest refining system, a U.S. marketing network that includes Marathon-branded retail outlets, and a majority ownership interest in MPLX LP.
Recurring updates cover Refining & Marketing results, Midstream performance, Renewable Diesel operations, refinery turnarounds and capital projects such as jet fuel and FCC upgrades. Company announcements also address quarterly dividends, share repurchase authorizations, capital returns, annual meeting timing, and MPLX gathering, processing, fractionation, transportation and logistics activity.
Marathon Petroleum Corp. (MPC) reported Q4 2024 net income of $371 million ($1.15 per diluted share), down from $1.5 billion ($3.84 per diluted share) in Q4 2023. The company's adjusted net income was $249 million ($0.77 per diluted share) compared to $1.5 billion ($3.98 per diluted share) in Q4 2023.
For full-year 2024, MPC generated net cash from operations of $8.7 billion and returned $10.2 billion to shareholders through share repurchases and dividends. The company's Midstream segment showed 6% EBITDA growth. Q4 2024 adjusted EBITDA was $2.1 billion, versus $3.6 billion in Q4 2023.
MPC established a new Renewable Diesel segment and announced its 2025 standalone capital outlook of $1.25 billion. The company maintained strong liquidity with $3.2 billion in cash and equivalents, including $1.5 billion at MPLX, plus $5 billion available on its credit facility.
Marathon Petroleum Corp. (NYSE: MPC) has announced its 2025 annual shareholders meeting details. The meeting will be conducted virtually via live webcast on April 30, 2025, at 10 a.m. ET. Shareholders who are on record as of March 3, 2025, will have the right to receive notice and vote at the annual meeting. The company will provide detailed instructions for shareholder access and participation in the virtual meeting through its upcoming proxy statement.
Marathon Petroleum Corp. (NYSE: MPC) has announced its latest quarterly dividend declaration. The company's board of directors has approved a dividend of $0.91 per share on common stock. Shareholders who are on record as of the close of business on February 19, 2025, will receive the dividend payment on March 10, 2025.
Flyscan Systems announced that Kinder Morgan (NYSE: KMI) has joined its strategic investor group, which includes Marathon Petroleum, Enbridge, and Hatch. The investment will support Flyscan's growth and accelerate its entry into the Natural Gas detection and quantification market.
Flyscan, founded in 2015 as a spin-off from Canada's National Optics Institute, is pioneering technology for pipeline leak detection and right-of-way damage prevention. The company utilizes remote sensing and artificial intelligence to detect liquid hydrocarbons and automate visual inspection from regulatory patrol planes.
KMI's COO James Holland emphasized the state-of-the-art nature of Flyscan's technologies and their importance in protecting employees, the environment, and communities. The partnership aims to leverage KMI's strategic footprint across multiple fuel types and extensive presence in the US market.
Marathon Petroleum's Garyville refinery has achieved a significant safety milestone, celebrating 30 years of maintaining OSHA's Voluntary Protection Program (VPP) Star status, making it the longest-running VPP Star refinery in the United States. The facility, which first earned this prestigious recognition in 1994, was only the sixth refinery nationwide and second in Louisiana to receive this honor.
Nearly 400 employees and contractors attended the milestone celebration in October 2024. The event featured special guest D-D Breaux, former LSU Women's Gymnastics Head Coach, who drew parallels between athletic excellence and workplace safety commitment. Mike Henschen, Senior Vice President of Refining Operations, and Jeremy Beasley, Environmental, Safety & Security Manager, emphasized the teamwork required to maintain this certification.
VPP Star status represents OSHA's highest recognition for exceptional achievements in safety and health management, demonstrating the refinery's outstanding commitment to maintaining a safe and healthy work environment.
Marathon Petroleum 's (MPC) Mexico City office partnered with TECHO, a Latin American nonprofit, to provide new homes for three families in need. The project, completed in a single weekend, involved 27 MPC employee volunteers who helped construct houses made from prefabricated wooden panels. Each home was equipped with a 290-gallon water catchment system, replacing previous makeshift shelters that had dirt floors and no running water.
The initiative marks the first collaboration between MPC's Mexico City office and TECHO. The office, which supports the company's ARCO® retail brand and fuel marketing operations in Mexico, plans to continue similar community involvement efforts in the future.
Marathon Petroleum Corp. (NYSE: MPC) has announced it will release its fourth-quarter and full-year 2024 financial results on February 4, 2025. The company will host a conference call at 11 a.m. EST on the same day to discuss the results. Investors can access the conference call through MPC's website, where a replay will be available for two weeks. Financial information, including the earnings release and investor materials, will be published on the company's website before the conference call.
LF Bioenergy announced the expansion of its renewable natural gas (RNG) project footprint with four operating facilities and two under construction across the U.S. The operational projects have achieved environmental benefits equivalent to reducing 60 million gasoline miles. The company aims to reach 15 operational RNG projects by 2027.
The company's RNG projects provide farmers with diversified revenue streams while eliminating manure disposal needs, improving soil and water quality, reducing odors, and cutting greenhouse gas emissions. Their business model requires no upfront farmer investment. The projects capture methane, which has a global warming potential 28 times greater than carbon dioxide, according to the EPA. The company recently added a new Commercial Vice President to strengthen its executive team.
Marathon Petroleum's Transportation and Rail Health and Safety department, along with local fleet operations and corporate medical services, participated in a volunteer initiative at Gleaners Food Bank in Indianapolis. A team of 14 volunteers successfully distributed food to over 1,200 households during a September volunteer day.
Since 2012, more than 400 Marathon employees have contributed 1,119 hours of service to Gleaners within Indiana. The food bank serves surrounding counties and supports smaller distribution organizations, helping families facing food insecurity during economic hardships and high inflation rates.
Marathon Petroleum (MPC) has been named to the Women In Trucking Association's 2024 Top Companies for Women to Work in Transportation list for the third consecutive year. The recognition was presented at the WIT Accelerate! Conference & Expo in Dallas, highlighting the company's commitment to gender diversity and career advancement.
The company offers transport drivers comprehensive benefits including flexible schedules, eight weeks of fully paid maternity leave, four weeks of paternity leave, adoption assistance, tuition reimbursement, 401k match, and a company pension plan. MPC was selected for its corporate culture fostering gender diversity, competitive compensation, and professional development opportunities.