---
schema_version: "secwatch.filing_event.v1"
accession: "0001510295-24-000045"
form_type: "8-K"
ticker: "MPC"
cik: "0001510295"
company_name: "Marathon Petroleum Corp"
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T04:20:16.559015+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Marathon Petroleum Q1 net income $937M ($2.58 EPS), down 65% YoY; adds $5B buyback

## Summary
- Net income $937M ($2.58 diluted EPS) vs $2.7B ($6.09) in Q1 2023; adjusted EBITDA $3.3B vs $5.2B.
- Returned $2.5B to shareholders: $2.2B buybacks + $299M dividends; Board approved additional $5B repurchase authorization (total ~$8.8B available).
- R&M segment adj EBITDA $1.9B ($7.73/bbl), down from $3.9B ($15.09/bbl) as planned turnarounds cut utilization to 82%.
- Midstream segment adj EBITDA $1.6B, up from $1.5B; MPLX acquired Utica midstream assets for $625M and advanced Permian/Marcellus plants.
- Q2 2024 outlook: R&M throughput ~2.97M bpd, turnaround costs $200M, operating costs $4.95/bbl, corporate expense $200M.

## SEC filing metadata
- accession: 0001510295-24-000045
- form_type: 8-K
- ticker: MPC
- cik: 0001510295
- company_name: Marathon Petroleum Corp
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1510295/000151029524000045/0001510295-24-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1510295/000151029524000045/mpc-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001510295-24-000045
- JSON: https://secwatch.observer/filing/0001510295-24-000045.json
- Plain text: https://secwatch.observer/filing/0001510295-24-000045.txt

## Key facts
- Earnings Releases
  Marathon Petroleum Corp reported first quarter of 2024 results: net income $937 million, EPS $2.58 per diluted share.
  - Period: first quarter of 2024
  - Net income: $937 million
  - EPS: $2.58 per diluted share
  - Result: reported results
  source text: Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $937 million, or $2.58 per diluted share, for the first quarter of 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1510295/000151029524000045/0001510295-24-000045-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.