Marathon beats quarterly estimates, to sell two refineries to CVR Energy

CVR Energy plans a $750M stock sale to fund its acquisition of two refineries. Barclays and Jefferies are managing the offering. The company filed a registration statement with the SEC. Investors are advised to review the prospectus before investing. CVR Energy is a diversified holding company engaged in petroleum refining and nitrogen fertilizer manufacturing.

Marathon Petroleum (MPC) and MPLX (MPLX) agreed to sell two refineries and related assets to CVR Energy (CVI) for $4.2 billion, including $3.45 billion for MPC and $750 million for MPLX. The deal includes refineries in Minnesota and North Dakota with combined capacity of 177,000 barrels per day. Proceeds will be reinvested in the Gulf Coast and Permian/Marcellus basins. The transaction is expected to close by the end of 2026, subject to regulatory approval.

Marathon Petroleum Corp (MPC) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Marathon Petroleum Corp. Reports Third-Quarter 2026 Results • Third-quarter net income attributable to MPC of $7.4 billion, or $26.59 per diluted share, adjusted net income of $7.5 billion, or $26.93 per diluted share • $11.7 billion of adjusted EBITDA, demonstrating

CVR Energy (CVI) agreed to buy two refineries and related marketing assets from Marathon Petroleum (MPC) and MPLX (MPLX) for $4.2B plus inventory value. The deal includes facilities in Minnesota and North Dakota.

CVR Partners (UAN) reported Q3 GAAP EPS of -$1.02, with revenue of $146.15M, down 10.6% YoY. EBITDA was $20M, lower than the $71M reported in the same period last year, according to the company.

CVR Energy (CVI) announced a $253M balance sheet reduction due to an EPA waiver. It also agreed to acquire Marathon Petroleum's St. Paul Park and Mandan refineries. Q3 2026 net income rose to $746M, with adjusted EBITDA at $570M. The company declared a $0.10 dividend, while CVR Partners (UAN) reported a $1.79 distribution.