Filing Flows › Marathon Petroleum (MPC) › Q2 2026 › vs Q2 2025
Marathon Petroleum (MPC) Q2 2026 vs Q2 2025 (year over year)
Marathon Petroleum's revenue rose $18.2B (+54%) from $33.8B in Q2 2025 to $52.0B in Q2 2026. The biggest changes: Refining & Marketing +$17.5B (+55%); Renewable Diesel +$609M (+97%); Midstream +$115M (+9%). Operating margin 14.1% against 6.5% (+7.6 pts).
Marathon Petroleum, Q2 2026: revenue $52.0B (+54% year over year), operating margin 14.1%, net earnings $5.1B, operating cash flow $10.3B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 14.1% | 6.5% | +7.6 pts |
| Net margin | 9.9% | 3.6% | +6.3 pts |
| Free cash flow margin | 17.6% | 5.8% | +11.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Refining & Marketing | $49.3B | $31.8B | $17.5B | +55% |
| Midstream | $1.5B | $1.3B | $115M | +9% |
| Renewable Diesel | $1.2B | $631M | $609M | +97% |
| Revenue | $52.0B | $33.8B | $18.2B | +54% |
| Operating profit | $7.3B | $2.2B | $5.1B | +233% |
| Costs & expenses | $44.7B | $31.6B | $13.1B | +41% |
| Pre-tax earnings | $7.0B | $1.9B | $5.1B | +272% |
| Other expense, net | $340M | $319M | $21.0M | +7% |
| Cost of revenue | $43.1B | $30.0B | $13.0B | +43% |
| SG&A | $894M | $867M | $27.0M | +3% |
| Other operating costs | $714M | $710M | $4.0M | +0.6% |
| Net earnings | $5.1B | $1.2B | $3.9B | +323% |
| Minority interests | $400M | $394M | $6.0M | +2% |
| Income tax | $1.4B | $268M | $1.2B | +439% |
| Depreciation & amortization | $838M | $789M | $49.0M | +6% |
| Working capital & other | $4.4B | $634M | $3.7B | +586% |
| Operating cash flow | $10.3B | $2.6B | $7.7B | +291% |
| Free cash flow (OCF − capex) | $9.1B | $1.9B | $7.2B | +370% |
| Capital expenditures | $1.2B | $695M | $491M | +71% |
Questions
How much did Marathon Petroleum's revenue grow year over year in Q2 2026?
Marathon Petroleum's revenue rose $18.2B (+54%) from $33.8B in Q2 2025 to $52.0B in Q2 2026.
What drove Marathon Petroleum's revenue change in Q2 2026?
Refining & Marketing +$17.5B (+55%); Renewable Diesel +$609M (+97%); Midstream +$115M (+9%).