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Marathon Petroleum MPC Q1 2026 earnings

Reported May 5, 2026 · Before market open

Revenue$34.6BBeat by $1.1B
EPS$1.65Beat by $0.91
Revenue estimate$33.4B
EPS estimate$0.74
“Our first-quarter results underscore the strength and reliability of our integrated system and our disciplined approach to capital deployment, Accelerating our planned turnaround activity in the quarter enhances our operational readiness to supply the elevated levels of current market demand. MPLX progressed its mid-single digit growth strategy through expansions across its Natural Gas and NGL value chains, underpinning distribution growth and strengthening cash flow stability to MPC, positioning us to lead in capital return.”
Management

Next report

Nov 3, 2026 (in a month)
Revenue estimate$46.2B
EPS estimate$23.15

Financials

Q1 2026

Income statement

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Revenue$34.2B+8.5%
Gross profit$2.9B+36.3%
Operating income$1.4B+104%
Net income$511.0M+791%
EPS (diluted)$1.73+821%

Balance sheet

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Cash & equivalents$2.2B-43.6%
Total debt$1.5B+22.3%
Total equity$16.8B+2.2%
Total assets$88.2B+8.0%

Cash flow

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Operating cash flow$1.1B+1,852%
CapEx$913.0M+37.7%
Free cash flow$208.0M+129%

Valuation & ratios

Valuation

as of 03/31/26
See full
Market cap$71.91B+58.4%
Enterprise value$71.26B+66.5%
P/E15.5×-3.1×
P/S0.5×+0.2×

Profitability

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Gross margin10.4%+1.9pp
Operating margin6.7%+2.5pp
Net margin3.4%+1.7pp
FCF margin4.2%+1.0pp

Returns & leverage

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Return on equity27.9%+15.6pp
Debt / equity0.1×0.0×
Current ratio1.2×0.0×

Segments

By segment

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Refining & Marketing$32.3B+9.6%
Midstream$2.8B-3.0%
Renewable Diesel$579.0M-7.5%

By product

See full
Refined products$31.3B+9.4%
Services and other$1.3B-7.4%

FAQ

When did Marathon Petroleum report Q1 2026 earnings?
Marathon Petroleum (MPC) reported Q1 2026 earnings on May 5, 2026 before market open.
What were Marathon Petroleum's Q1 2026 revenue and EPS?
Marathon Petroleum reported revenue of $34.6B and eps of $1.65 for Q1 2026.
Did Marathon Petroleum beat estimates in Q1 2026?
Revenue beat the consensus estimate of $33.4B by $1.1B. EPS beat the consensus estimate of $0.74 by $0.91.
How did Marathon Petroleum's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.5% from $31.9B a year earlier.
Where can I find Marathon Petroleum's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001510295-26-000039) and the 10-Q periodic report (0001510295-26-000042) directly on SEC EDGAR. The filing index links above go to sec.gov.