Marathon Petroleum Q2 FY26 net income more than doubled to $5.1 billion
MPC•Capital returns and investment updates
- Returned $2.8 billion of capital in the quarter; El Paso and Robinson yield-enhancing refining investments came online, while MPLX targets 12.5% annual distribution growth in 2026-2027.
Quarterly results and segment performance
Marathon Petroleum posted Q2 2026 net income attributable to MPC of $5.1 billion, more than quadrupling from a year earlier; diluted EPS rose to $17.73.
- Adjusted EBITDA climbed to $8.5 billion from $3.3 billion in Q2 2025, led by Refining & Marketing adjusted EBITDA of $6.7 billion.
- Refining & Marketing margin widened to $36.33 per barrel from $17.58 per barrel; crude capacity utilization slipped to 94% from 97%.
- Midstream segment adjusted EBITDA rose to $1.8 billion from $1.6 billion; Renewable Diesel swung to $258 million from a $(19) million loss.
