Marathon Petroleum Reports $5.1 Billion Net Income in Q2 2026
Marathon Petroleum's net income surged to $5.1 billion in Q2 2026, driven by higher refining margins. The company anticipates a throughput of around 3 million barrels per day in Q3 2026, indicating continued operational strength.
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Marathon Petroleum reported a net income of $5.1 billion for Q2 2026, a significant increase from $1.2 billion year-over-year. Diluted earnings rose to $17.73 per share, with adjusted EBITDA reaching $8.5 billion, up from $3.3 billion.
The Refining and Marketing division's adjusted EBITDA climbed to $6.7 billion, fueled by a refining margin that more than doubled to $36.33 per barrel. The company processed 2.9 million barrels per day at 94% capacity.
Investments in El Paso and Robinson refineries were completed, enhancing specialty gasoline and jet fuel production. Marathon's subsidiary MPLX increased its growth-capital forecast to $2.9 billion, reflecting accelerated development of natural gas liquids fractionators. The firm returned over $2.8 billion to shareholders and held $7.8 billion in cash, with no outstanding borrowings.
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