Marathon Petroleum reported net income of $5.1 billion for the second quarter of 2026, quadrupling from $1.2 billion a year earlier. Adjusted EBITDA rose to $8.5 billion from $3.3 billion, driven by the Refining and Marketing division where adjusted EBITDA climbed to $6.7 billion from $1.9 billion and the refining margin more than doubled to $36.33 per barrel. Its majority-owned midstream subsidiary, MPLX, raised its 2026 growth-capital forecast by $500 million to $2.9 billion, primarily reflecting accelerated development of two natural gas liquids fractionators near Marathon's Galveston Bay refinery. The company returned more than $2.8 billion to shareholders during the quarter and held $7.8 billion in cash and equivalents.
Marathon Petroleum CorpNet income quadrupled and refining margins more than doubled, driving strong earnings.
MPLX LPMPLX raised its 2026 growth-capital forecast by $500 million, indicating increased investment and growth prospects.
