AI-extracted from the 10-Q filed 2026-08-04 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
MPC's Q2 FY2026 revenue rose 54% YoY to $52.0B as refining margins more than doubled to $36.33/barrel, driving net income attributable to MPC to $5.14B from $1.22B a year ago.
Biggest Revenue Drivers
Refining & Marketing$49.3B+55% YoY
Higher average refined product sales prices of $1.12/gallon and increased refined product sales volumes of 7 mbpd.
Midstream$1,455M+9% YoY
Increased rates and throughputs, including growth from equity affiliates and acquisitions, partly offset by divestiture of non-core gathering and processing assets.
Biggest Revenue Drivers
Total revenue: $52.0B+54% YoY
Refining & Marketing$49.3B+55% YoY
Higher average refined product sales prices of $1.12/gallon and increased refined product sales volumes of 7 mbpd.
Within Refining & Marketing
Refined products$46.4B
Crude oil$2,267M
Midstream$1,455M+9% YoY
Increased rates and throughputs, including growth from equity affiliates and acquisitions, partly offset by divestiture of non-core gathering and processing assets.
Renewable Diesel$1,240M+97% YoY
Higher sales prices and increased renewable diesel sales volume of 91 thousand gallons per day, driven by improved regulatory credit values.
Largest Expense Items
Cost of revenues$43,064M+43% YoY
Mainly due to increased crude costs and finished product purchases.
Selling, general and administrative expenses$894M+3% YoY
Employee related costs and fair-value remeasurement of performance-based stock compensation.
Depreciation and amortization$838M+6% YoY
Margins: Refining & Marketing margin rose to $36.33/barrel from $17.58/barrel a year ago, primarily due to higher crack spreads amid global crude supply disruptions; segment adjusted EBITDA per barrel more than tripled to $24.84 from $6.79.
Watch Items from the Filing
MPC is a defendant in climate change litigation (Delaware ex rel. Jennings v. BP America Inc., et al.) alleging misrepresentation of petroleum product climate impacts; outcome and potential liability remain undeterminable.
MPC must return approximately 27 million barrels of crude to the Strategic Petroleum Reserve between April 2027 and July 2029 after receiving ~22 million barrels via exchange contracts in 2026.
MPLX holds a 9.19% interest in Dakota Access; a permanent shutdown of the pipeline from the Lake Oahe easement dispute could require contingent equity contributions of up to $78 million.
MPC repurchased $2.5 billion of common stock in the quarter alone, with $6.13 billion remaining under its combined $10 billion share repurchase authorizations after adding $5.0 billion in May 2026.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
22 transactions in MPC reported by 8 members of Congress under the STOCK Act, most recent trade Sep 22, 2026. Reported transactions, not recommendations.
About Marathon Petroleum Corp (MPC): stock profile, AI score and financials
Marathon Petroleum Corp (MPC) stock profile, AI quality score, and SEC EDGAR financial data, a Energy sector company. 13F Pro's AI-powered ranking engine scores MPC at 61.4/100 on a composite quality score built from its SEC filings, placing it at rank #781 of 2,925 stocks — the top half of the AI-ranked universe. MPC scores in the top quartile across revenue scale (99.1), balance sheet strength (80.7). Areas of concern include revenue growth (31.1), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), Marathon Petroleum Corp reports quarterly revenue of $52.0B, net income of $5.1B, an operating margin of 14.1%. Top institutional holders of MPC by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. MPC trades on the NYSE exchange and files with the SEC under CIK 1510295. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MPC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Marathon Petroleum Corp directly from SEC EDGAR.