Marathon Petroleum Corporation reports news as an integrated downstream and midstream energy company with the nation's largest refining system, a U.S. marketing network that includes Marathon-branded retail outlets, and a majority ownership interest in MPLX LP.
Recurring updates cover Refining & Marketing results, Midstream performance, Renewable Diesel operations, refinery turnarounds and capital projects such as jet fuel and FCC upgrades. Company announcements also address quarterly dividends, share repurchase authorizations, capital returns, annual meeting timing, and MPLX gathering, processing, fractionation, transportation and logistics activity.
Marathon Petroleum (NYSE: MPC) reported third-quarter 2026 net income of $7.4 billion, sharply above the same period a year earlier. Diluted earnings rose to $26.59 from $4.51, while adjusted EBITDA increased to $11.729 billion from $3.206 billion. Refining margins rose to $45.70 per barrel from $17.60, and crude capacity utilization reached 100%.
MPC returned $3.3 billion to shareholders, announced a 10% quarterly dividend increase and approved an additional $5 billion buyback authorization. Cash, cash equivalents and short-term investments totaled $13.6 billion at September 30. The announced $4.2 billion sale of the St. Paul Park and Mandan refineries and related midstream assets is expected to close at year-end 2026. MPC will receive $3.45 billion and intends to reinvest primarily in the Gulf Coast; MPLX will receive $750 million. MPC's 2026 capital spending outlook, excluding MPLX, is $1.5 billion.
Marathon Petroleum (MPC) and MPLX (MPLX) agreed to sell refineries and related midstream assets to CVR Energy for $4.2 billion. The price includes additional inventory value and is subject to purchase price adjustments. MPC will receive $3.45 billion for the refining assets, excluding inventory, and MPLX will receive $750 million for the midstream assets.
The St. Paul Park, Minnesota, and Mandan, North Dakota, refineries have crude oil capacities of 105 thousand and 72 thousand barrels per calendar day, respectively. Related midstream assets include a crude oil pipeline interest, storage capacity and three terminals. The companies expect closing at the end of 2026, subject to conditions including antitrust clearance. Both companies' relevant boards unanimously approved the transaction.
CVR Energy (NYSE: CVI) agreed to acquire two refineries and a related marketing business from Marathon Petroleum for approximately $4.2 billion. The price excludes net working capital. The St. Paul Park, Minnesota, and Mandan, North Dakota, refineries would increase throughput capacity from approximately 207,000 to approximately 384,000 barrels per day.
CVR expects closing by year-end 2026, subject to regulatory clearance. Funding includes $2.5 billion of committed secured debt, a $500 million controlling-shareholder equity commitment, an $800 million Trafigura equity investment and cash. Nine-month 2026 pro forma earnings per share would have been $7.67 versus $3.73 standalone, excluding approximately $70 million in estimated future annual run-rate synergies. Existing 2028 notes will be redeemed; 2031 and 2034 notes will become secured alongside the new debt.
Marathon Petroleum (NYSE: MPC) has elected David E. Constable to its board of directors, effective March 1, 2027. His election will bring the board to 11 directors. Constable most recently served as chairman and CEO of Fluor and previously led Sasol as CEO from 2011 to 2016. He currently serves on ABB's board.
Marathon Petroleum (NYSE: MPC) has declared a quarterly common-stock dividend of $1.10 per share, increasing its payout to shareholders. The dividend is 10% higher than the previous $1.00 per share and is payable December 10, 2026, to shareholders of record at the close of business November 18, 2026.
Marathon Petroleum (MPC) will hold a conference call on November 3, 2026, at 11 a.m. EST to discuss its 2026 third-quarter financial results.
Live access and a one-month replay will be available via webcast on the company’s website at www.marathonpetroleum.com, where the earnings release and other investor materials will be posted prior to the call.
Marathon Petroleum (NYSE: MPC) reported second-quarter 2026 net income attributable to MPC of $5.1 billion, or $17.73 per diluted share, up from $1.2 billion, or $3.96, a year earlier. Adjusted EBITDA rose to $8.5 billion from $3.3 billion.
Refining & Marketing adjusted EBITDA increased to $6.7 billion, with margin of $36.33 per barrel and 94% crude utilization on 2.9 million bpd throughput, driven by higher crack spreads. Midstream adjusted EBITDA was $1.8 billion, and Renewable Diesel improved to $258 million from a loss. MPC ended June 30, 2026 with $7.8 billion in cash and no revolver borrowings, returning over $2.8 billion to shareholders and retaining $6.1 billion of share repurchase authorization. The company outlined a 2026 capital outlook of $1.5 billion (ex-MPLX) and MPLX increased 2026 growth capital to $2.9 billion, supporting an expected 12.5% annual distribution growth in 2026 and 2027.
Marathon Petroleum (NYSE: MPC) announced that its board of directors has declared a quarterly cash dividend of $1.00 per share on its common stock. The dividend will be payable on September 10, 2026 to shareholders of record as of the close of business on August 19, 2026.
Marathon Petroleum (NYSE:MPC) will host a conference call on Tuesday, August 4, 2026, at 11 a.m. EDT to discuss its 2026 second‑quarter financial results. The live webcast, replay, earnings release, and other investor materials will be accessible on www.marathonpetroleum.com.
Marathon Petroleum (NYSE:MPC) appointed Brian Worthington as vice president, Investor Relations, succeeding Kristina Kazarian, who becomes vice president, Finance and Treasurer, effective May 25, 2026.
Both will report to CFO Maria Khoury and will also serve in corresponding roles at MPLX (NYSE:MPLX).