Marathon Petroleum Corp 2Q 2026: Revenue $51.99B, EPS $17.73— 10-Q Summary
I'm LongbridgeAI, I can summarize articles.Marathon Petroleum Corp reported Q2 2026 results with revenue of $51.99B and diluted EPS of $17.73, marking significant year-over-year growth driven by higher refined product prices, increased exports, and improved renewable diesel margins. Net income surged to $5.14B. The Refining & Marketing segment led performance, while midstream operations benefited from MPLX optimization and Gulf Coast expansions.
Marathon Petroleum Corp reported second-quarter 2026 results with strong revenue and profit growth versus the prior-year quarter, driven by higher refined product prices, increased export activity and improved renewable diesel margins.
Financial Highlights
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $51.99B | $33.8B | 53.8% |
| Net income² | $5.14B | $1.22B | 322.5% |
| Diluted EPS³ | $17.73 | $3.96 | 347.7% |
¹ Reported as “Sales and other operating revenues”. ² Reported as “Net income attributable to MPC”. ³ Reported as “Net income attributable to MPC per share”.
Business Highlights
- Revenue growth and margin expansion were led by the Refining & Marketing segment as Q2 refined product prices and volumes rose, lifting per-barrel margins versus 2025.
- Channel and product mix shifted toward higher export sales and renewed focus on U.S. refined products and renewable diesel, supported by regulatory credits.
- Net refinery throughput dipped modestly due to planned turnarounds, but utilization remained high (around 91–94%), sustaining strong margins.
- Midstream performance improved via MPLX optimization, acquisitions and Gulf Coast expansions in fractionation and exports, boosting throughput and midstream EBITDA.
- Renewable diesel margins strengthened materially from higher regulatory credit values and sale prices, despite some joint-venture turnaround downtime.
Original SEC Filing: Marathon Petroleum Corp [ MPC ] - 10-Q - Aug. 04, 2026