MPC · 10-Q · 2026Q3 · Full report

Renewable Diesel Profitability

Marathon Petroleum Corp · 2026-11-03 · Importance 40 · Surprise 56

Renewable Diesel gross margin was negative $123 million in the third quarter of 2026, compared with negative $338 million in the third quarter of 2025. Renewable Diesel margin includes sales revenue and qualifying regulatory-credit value, less renewable-input and purchased-product costs, including costs from the Martinez Renewables JV. The segment’s adjusted EBITDA was negative $56 million for the first nine months of 2026 and negative $117 million for the comparable 2025 period.

Key facts

• Marathon Petroleum's Renewable Diesel segment adjusted EBITDA increased $667 million in the first nine months of 2026, primarily due to margin growth to $758 million from $83 million, driven by improved regulatory credit values. source
• Marathon Petroleum's Renewable Diesel segment adjusted EBITDA increased $310 million in the third quarter of 2026, primarily due to margin growth to $304 million from $8 million, driven by improved regulatory credit values. source