Filing Flows › Marathon Petroleum (MPC) › Q2 2026
Marathon Petroleum (MPC) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
Marathon Petroleum (MPC) reported revenue of $52.0B for the second quarter 2026 (Q2 2026), +54% from a year earlier and +52% from the quarter before. Operating margin was 14.1%, net earnings $5.1B (9.9% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $52.0B | +52% | +54% |
| Operating profit | $7.3B | +422% | +233% |
| Net earnings | $5.1B | +905% | +323% |
| Operating cash flow | $10.3B | +821% | +291% |
| Free cash flow | $9.1B | 44× | +370% |
What changed
Revenue was $52.0B in Q2 2026, up 54% year over year and up 52% from the previous quarter. Refining & Marketing was the largest line at 95% of revenue. Refining & Marketing added $17.5B year over year (up 55%), 96% of the total change.
Operating profit was $7.3B, a 14.1% margin (up 7.6 points year over year). Of the extra revenue versus Q2 2025, 28% reached operating profit, above the 7% margin then. Total costs grew 41% against revenue growth of 54%. The fastest-growing cost line was Cost of revenue (+43%). Net earnings were $5.1B, up 323% year over year. The effective tax rate was 20.7%.
Operating cash flow was $10.3B (up 291% year over year), 186% of net income including minority interests. Non-cash charges added back $0.84B of depreciation and amortization. Working capital and other items added $4.0B. Capital expenditures of $1.2B left free cash flow of $9.1B.
Questions
What was Marathon Petroleum's revenue in the second quarter 2026?
Marathon Petroleum (MPC) reported revenue of $52.0B for the second quarter 2026 (Q2 2026), +54% from a year earlier and +52% from the quarter before.
Was Marathon Petroleum profitable in the second quarter 2026?
Operating profit was $7.3B (14.1% of revenue) and net earnings $5.1B.
Source: Marathon Petroleum 10-Q on SEC EDGAR.