Form 10-Q · Quarterly report
Marathon Petroleum 10-Q, filed Aug 4, 2026
- Filed
- CIK
- 0001510295
- Accession no.
- 0001510295-26-000061
Summary
Marathon Petroleum reported second-quarter 2026 net income attributable to MPC of $5.14 billion, or $17.73 per diluted share, up from $1.22 billion, or $3.96 per diluted share, a year earlier, as Refining & Marketing segment adjusted EBITDA rose to $6,655 million from $1,890 million on higher realized refining margins. The company said its board approved an additional $5.0 billion share repurchase authorization on May 5, 2026, and that the U.S. Department of Energy accepted its bids to exchange crude oil with the Strategic Petroleum Reserve.
Key points
- Second-quarter 2026 Refining & Marketing segment adjusted EBITDA was $6,655 million versus $1,890 million in the second quarter of 2025; Midstream was $1,778 million and Renewable Diesel $258 million.
- Total reportable segment adjusted EBITDA was $8,691 million for the quarter, and income before income taxes was $6,982 million.
- Under SPR exchange arrangements, the SPR is to deliver roughly 22 million barrels to MPC during 2026, with MPC returning about 27 million barrels from April 2027 through July 2029.
- MPLX declared a quarterly distribution of $1.0765 per common unit payable August 14, 2026, of which MPC's portion is about $697 million; MPC held roughly 647 million MPLX common units as of June 30, 2026.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion EXECUTIVE SUMMARY Business and Economic Environment Update Our Refining & Marketing segment results for the second quarter of 2026 versus the second quarter of 2025 reflect higher realized refining margins supported by stable demand and higher product prices driven by global crude oil supply disruptions as a result of increasing regional conflicts, particularly in the Middle East. Longer term, global demand growth is expected to outpace the net impact of refining capacity additions and rationalizations through the end of the decade. We anticipate these fundamentals, as well as the U.S. …
An excerpt of the text as filed with the SEC, cut for length.
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