Marathon Petroleum Corp. (NYSE:MPC) Stock Plummets on Q3 2025 Earnings Miss

Marathon Petroleum Corp. (NYSE:MPC) unveiled its third-quarter 2025 financial results, revealing a performance that has elicited a notably negative reaction from the market. The company's earnings per share figure fell short of analyst projections, overshadowing a significant year-over-year increase in profitability and a substantial revenue beat.

Third-Quarter 2025 Financial Results

The company reported a net income attributable to MPC of $1.4 billion, or $4.51 per diluted share. On an adjusted basis, which is often compared to analyst estimates, the non-GAAP earnings per share came in at $3.01. This result was achieved on reported revenue of approximately $35.85 billion. When measured against the market's expectations, the quarter presents a mixed but ultimately disappointing picture for investors focused on bottom-line performance.

• Reported Revenue: ~$35.85 billion
• Analyst Revenue Estimate: ~$32.88 billion
• Reported Non-GAAP EPS: $3.01
• Analyst EPS Estimate: $3.18

While the company decisively surpassed revenue forecasts by nearly $3 billion, the adjusted EPS of $3.01 missed the consensus estimate of $3.18. This miss on profitability appears to be the primary driver behind the negative investor sentiment observed in pre-market trading.

Market Reaction and Performance

The immediate market response to the earnings release has been sharply negative. Pre-market trading indicates a significant drop, reflecting investor disappointment with the earnings miss. This short-term reaction contrasts with the stock's more stable performance over recent weeks.

• Pre-Market Performance: -7.27%
• Last Week's Performance: -0.22%
• Last Month's Performance: +1.17%

The steep pre-market decline suggests that the EPS shortfall has outweighed the positive aspects of the report, including the strong revenue beat and the announcement of a new board chairman, Maryann T. Mannen.

Summary of Press Release Highlights

Beyond the headline financial figures, the press release underscored a dramatic year-over-year improvement in profitability. Net income for the third quarter of 2025 was $1.4 billion, more than double the $622 million reported in the same period last year. The company also highlighted the strong performance of its affiliated master limited partnership, MPLX LP, which reported its own robust earnings and a 12.5% increase in its quarterly distribution. The leadership transition with the election of a new board chairman was another key point of the announcement.

Forward-Looking Analyst Estimates

Looking ahead, analysts have already established expectations for the company's future performance. For the upcoming fourth quarter of 2025, the market is anticipating sales of approximately $31.68 billion and revenue of around $2.86 billion. For the full 2025 year, the analyst consensus projects sales of about $131.45 billion and revenue of $9.59 billion. The earnings release did not provide a specific company outlook to compare against these estimates.

For a detailed breakdown of historical earnings, future estimates, and analyst revisions, more information is available on the MPC earnings and estimates page.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.