Quarterly ResultMay 5, 2026, 06:52 AM
Marathon Petroleum Q1 Net Income $511M; Authorizes $5B Share Buyback
AI Summary
Marathon Petroleum Corp. reported a net income attributable to MPC of $511 million, or $1.73 per diluted share, for Q1 2026, a significant improvement from a net loss in Q1 2025. The company also announced an incremental $5 billion share repurchase authorization, reinforcing its commitment to capital return. Cash from operations was $1.1 billion, and adjusted EBITDA reached $2.8 billion. Strategic projects, including the Garyville jet project, are progressing, and MPLX's Permian growth strategy is expected to support distribution growth.
Key Highlights
- Board approved an incremental $5 billion share repurchase authorization.
- Q1 2026 net income attributable to MPC was $511 million, or $1.73 per diluted share.
- Adjusted net income for Q1 2026 was $487 million, or $1.65 per diluted share.
- Cash provided by operating activities was $1.1 billion for Q1 2026.
- Adjusted EBITDA for Q1 2026 was $2.8 billion, up from $2.0 billion in Q1 2025.
- Refining & Marketing segment adjusted EBITDA was $1.4 billion, up from $489 million YoY.
- Midstream segment adjusted EBITDA was $1.6 billion, down from $1.7 billion YoY.
- Renewable Diesel segment adjusted EBITDA was $38 million, up from $(42) million YoY.
- Garyville jet flexibility project completed in Q1 2026; El Paso FCC upgrade targets 2Q26.