MPC · 10-Q · 2026Q2

Marathon Petroleum Corp

Filed 2026-08-04 · Energy · View original filing on EDGAR

Ranked Events

• Capital Return ProgramImportance 77 · Surprise 82
  Cash used for common stock repurchases, including fees and expenses, totaled $3.28 billion in the first six months of 2026, compared with $1.84 billion in the first six months of 2025, an increase of approximately 78%.…
• Outstanding IndebtednessImportance 70 · Surprise 82
  Long-term debt borrowings and repayments represented a net $106 million use of cash in the first six months of 2026, compared with a $919 million source of cash in the first six months of 2025. MPLX issued $1.5 billion…
• Capital ExpendituresImportance 69 · Surprise 64
  Investing activities used $2.44 billion in the first six months of 2026, versus $1.90 billion in the first six months of 2025. Additions to property, plant and equipment increased $741 million year over year. Total…
• Refining Margin TrendsImportance 69 · Surprise 64
  Refining & Marketing adjusted EBITDA increased $4.77 billion in the second quarter and $5.65 billion in the first six months of 2026, reaching $24.84 and $15.31 per barrel versus $6.79 and $4.45 per barrel in the…
• Revenue Performance and MixImportance 69 · Surprise 64
  Consolidated revenues and other income increased $18.24 billion, or 53%, to $52.34 billion in the second quarter of 2026, while six-month revenue increased $20.95 billion, or 32%, to $86.91 billion. Refining &…
• Middle East Supply DisruptionsImportance 67 · Surprise 66
  Marathon Petroleum reported that second-quarter 2026 Refining & Marketing results benefited from higher realized refining margins and product prices. The company attributed the pricing environment to global crude oil…
• Liquidity and Cash PositionImportance 63 · Surprise 64
  Consolidated cash and cash equivalents increased to approximately $7.77 billion at June 30, 2026, from $3.67 billion at December 31, 2025. Net cash provided by operating activities was $11.448 billion in the first six…
• Renewable Fuel Compliance CostsImportance 63 · Surprise 64
  MPC purchases Renewable Identification Numbers (RINs) to satisfy part of its obligations under the EPA Renewable Fuel Standard (RFS). Purchased RIN expenses included in Refining & Marketing margin increased to $683…
• Strategic Petroleum Reserve ExchangeImportance 59 · Surprise 60
  The U.S. Department of Energy accepted MPC’s bids to exchange crude oil barrels with the Strategic Petroleum Reserve during the first and second quarters of 2026. Under the arrangements, the SPR will deliver…
• Renewable Diesel MarginImportance 55 · Surprise 64
  Renewable Diesel adjusted EBITDA increased $277 million in the second quarter and $357 million in the first six months of 2026, despite quarterly EBITDA remaining negative at $19 million. Renewable Diesel margin…
• Operating Expense TrendsImportance 52 · Surprise 30
  Consolidated costs and expenses increased $15.11 billion, or 24%, in the first six months of 2026, including a $14.94 billion increase in cost of revenues from higher crude costs and finished-product purchases.…
• End-Market Demand TrendsImportance 49 · Surprise 32
  Refining & Marketing results benefited from stable refined-product demand and higher product prices in the second quarter of 2026. Refined product sales volumes increased 7 mbpd in the quarter and 55 mbpd in the first…
• Operating Cash Flow TrendsImportance 46 · Surprise 56
  Operating cash flow increased $8.87 billion in the first six months of 2026 compared with the first six months of 2025. The improvement primarily reflected stronger operating results and a favorable $4.23 billion…
• Income Tax Rate ChangesImportance 44 · Surprise 46
  The income tax provision increased to $1.44 billion in the second quarter of 2026 from $268 million in the second quarter of 2025, while six-month tax expense increased to $1.63 billion from $305 million. The…
• Manufacturing And CapacityImportance 37 · Surprise 32
  Net refinery throughput declined 116 mbpd year over year in the second quarter and 57 mbpd in the first six months, primarily because of increased planned turnaround activity. The reduction was concentrated primarily…
• Clean Fuel Tax CreditsImportance 34 · Surprise 42
  MPC recognized approximately $75 million of clean-fuel production tax credits during the first six months of 2026, including $32 million related to 2025 activity. The recognition followed proposed regulatory guidance…
• Renewable Diesel Demand TrendsImportance 31 · Surprise 32
  Renewable Diesel segment revenues increased $620 million in the second quarter, driven by higher sales prices and a 91 thousand gallons-per-day increase in sales volume. Six-month sales volume declined 44 thousand…
• Midstream Throughput GrowthImportance 31 · Surprise 32
  Midstream segment performance in the second quarter reflected higher rates and throughputs, including growth from equity affiliates and acquisitions. The segment gathers, transports, stores and distributes crude oil,…
• Supply Chain and Inventory TrendsImportance 12 · Surprise 6
  Inventory levels shifted during the first six months of 2026, with crude oil and material and supplies inventories declining while refined product inventories increased. The changes reflected lower crude oil and…

Revenue by Product (in millions)