Marathon Petroleum Reports $7.4 Billion Third-Quarter Profit

Marathon Petroleum Corp. (MPC) reported a net income of $7.4 billion for the third quarter of 2026, a substantial increase from the $1.4 billion recorded in the same period last year. Earnings per diluted share reached $26.59.

Adjusted EBITDA rose to $11.7 billion, up from $3.2 billion in the third quarter of 2025. This performance was supported by strong market crack spreads across all regions and a 100% capacity utilization rate in the refining segment, which contributed $9.9 billion to the quarterly adjusted EBITDA.

CEO Maryann Mannen stated that the firm’s value chain capabilities allowed it to capitalize on shifting market margins. Due to strong cash generation, the company’s board approved a 10% increase in the quarterly dividend and an additional $5 billion in share repurchase authorizations.

Looking forward, the company intends to divest its Mid-Con assets and focus future capital investment on the Gulf Coast region. As of September 30, 2026, Marathon Petroleum maintained a robust liquidity position with $13.6 billion in cash and short-term investments.