MPC · 10-Q · 2026Q3

Marathon Petroleum Corp

Filed 2026-11-03 · Energy · View original filing on EDGAR

Everything MPC's SEC filings said, ranked

Ranked Events

• Liquidity and Cash PositionImportance 69 · Surprise 64
  Consolidated cash and cash equivalents were approximately $12.81 billion at September 30, 2026, compared with $3.67 billion at December 31, 2025. Operating cash flow for the first nine months of 2026 was $22.180…
• Capital Expenditure ProgramImportance 64 · Surprise 56
  Total capital expenditures were $3.357 billion in the first nine months of 2026, compared with $2.410 billion in the first nine months of 2025. Total capital expenditures and investments reached $4.082 billion, up from…
• Revenue Performance and MixImportance 64 · Surprise 56
  Third-quarter 2026 total revenues and other income were $56.487 billion, up $20.638 billion year over year; nine-month revenues were $143.392 billion, up $41.592 billion. The increases mainly reflected higher Refining…
• Refining Margin TrendsImportance 63 · Surprise 64
  Refining & Marketing margin was $45.70 per barrel in the third quarter of 2026, compared with $17.60 per barrel in the third quarter of 2025, primarily reflecting higher crack spreads. The blended 3-2-1 crack spread…
• St. Paul Park and Mandan DivestitureImportance 59 · Surprise 60
  On November 2, 2026, MPC entered a definitive agreement to sell its St. Paul Park, Minnesota, and Mandan, North Dakota, refineries and related midstream assets for $4.2 billion in cash, subject to closing adjustments.…
• Capital Return ProgramImportance 59 · Surprise 60
  On November 3, 2026, the board authorized an additional $5.0 billion of MPC share repurchases, on top of the $5.0 billion authorization announced May 5, 2026; neither authorization has an expiration date. At September…
• Income Tax Rate ChangesImportance 57 · Surprise 64
  MPC recorded a $2.285 billion income tax provision for the third quarter of 2026, compared with $460 million in the third quarter of 2025; the 2026 provision was higher than the U.S. statutory rate. For the first nine…
• Renewable Fuel Compliance CostsImportance 57 · Surprise 64
  MPC purchases Renewable Identification Numbers (RINs) to meet part of its Renewable Fuel Standard compliance obligations. RIN expenses included in Refining & Marketing margin totaled $1.93 billion in the first nine…
• Outstanding IndebtednessImportance 50 · Surprise 46
  Long-term debt borrowings and repayments provided a net $72 million of cash in the first nine months of 2026, compared with a net $4.65 billion source in 2025. MPLX issued $3.75 billion of senior notes and repaid $2.75…
• Strategic Petroleum Reserve ExchangeImportance 46 · Surprise 42
  In the first and second quarters of 2026, the U.S. Department of Energy accepted MPC’s bids to exchange crude oil barrels with the Strategic Petroleum Reserve. The SPR delivered approximately 21 million barrels to MPC…
• Renewable Diesel ProfitabilityImportance 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…
• Middle East Conflict ImpactImportance 38 · Surprise 24
  In the third quarter of 2026, global crude oil supply disruptions from increasing regional conflicts, particularly in the Middle East and Russia, contributed to higher product prices. Management expects global demand…
• Manufacturing and CapacityImportance 37 · Surprise 32
  Net refinery throughput increased 145 thousand barrels per day in the third quarter of 2026 year over year, reflecting favorable impacts across all regions. The increase resulted from lower turnaround activity and…
• Market Demand TrendsImportance 37 · Surprise 32
  Management reported stable demand for refined products in the third quarter of 2026, alongside higher product prices associated with global crude oil supply disruptions, particularly in the Middle East and Russia.…
• Renewable Diesel PerformanceImportance 35 · Surprise 48
  Renewable Diesel segment revenue increased $652 million in the third quarter and $1.23 billion in the first nine months of 2026, reflecting higher sales prices and higher sales volumes. Quarterly renewable diesel sales…
• Midstream Segment PerformanceImportance 25 · Surprise 32
  Midstream segment adjusted EBITDA increased $173 million in the third quarter of 2026 and $188 million in the first nine months. Quarterly sales and operating revenues increased $365 million, while the nine-month…
• Operating Expense TrendsImportance 23 · Surprise 22
  Selling, general and administrative expenses increased $237 million in the third quarter and $348 million in the first nine months of 2026 year over year. The quarterly increase included approximately $150 million of…
• Clean Fuel Tax CreditsImportance 20 · Surprise 24
  MPC recorded approximately $82 million of clean fuel production tax credits in the first nine months of 2026, including $32 million related to 2025 activity. The credits followed proposed regulatory guidance issued in…
• Supply Chain and Inventory TrendsImportance 10 · Surprise 6
  In the first nine months of 2026, inventories increased largely because of higher refined product inventory volumes, partly offset by lower crude oil and materials and supplies inventory volumes. Accounts payable…

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