Filing Flows › Marathon Petroleum (MPC) › Q3 2026 › vs Q2 2026
Marathon Petroleum (MPC) Q3 2026 vs Q2 2026 (quarter over quarter)
Marathon Petroleum's revenue rose $4.0B (+8%) from $52.0B in Q2 2026 to $56.0B in Q3 2026. The biggest changes: Refining & Marketing +$3.8B (+8%); Renewable Diesel +$122M (+10%); Midstream +$121M (+8%). Operating margin 18.7% against 14.1% (+4.6 pts).
Marathon Petroleum, Q3 2026: revenue $56.0B (+61% year over year), operating margin 18.7%, net earnings $7.4B, operating cash flow $10.7B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 18.7% | 14.1% | +4.6 pts |
| Net margin | 13.3% | 9.9% | +3.4 pts |
| Free cash flow margin | 17.1% | 17.6% | -0.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Refining & Marketing | $53.1B | $49.3B | $3.8B | +8% |
| Midstream | $1.6B | $1.5B | $121M | +8% |
| Renewable Diesel | $1.4B | $1.2B | $122M | +10% |
| Revenue | $56.0B | $52.0B | $4.0B | +8% |
| Operating profit | $10.4B | $7.3B | $3.1B | +43% |
| Costs & expenses | $45.6B | $44.7B | $910M | +2% |
| Pre-tax earnings | $10.2B | $7.0B | $3.2B | +46% |
| Other expense, net | $287M | $340M | −$53.0M | -16% |
| Cost of revenue | $43.8B | $43.1B | $731M | +2% |
| SG&A | $1.1B | $894M | $206M | +23% |
| Other operating costs | $687M | $714M | −$27.0M | -4% |
| Net earnings | $7.4B | $5.1B | $2.3B | +45% |
| Minority interests | $431M | $400M | $31.0M | +8% |
| Income tax | $2.3B | $1.4B | $841M | +58% |
| Depreciation & amortization | $836M | $838M | −$2.0M | -0.2% |
| Working capital & other | $2.4B | $4.4B | −$1.9B | -44% |
| Operating cash flow | $10.7B | $10.3B | $405M | +4% |
| Free cash flow (OCF − capex) | $9.6B | $9.1B | $464M | +5% |
| Capital expenditures | $1.1B | $1.2B | −$59.0M | -5% |
Questions
How much did Marathon Petroleum's revenue grow quarter over quarter in Q3 2026?
Marathon Petroleum's revenue rose $4.0B (+8%) from $52.0B in Q2 2026 to $56.0B in Q3 2026.
What drove Marathon Petroleum's revenue change in Q3 2026?
Refining & Marketing +$3.8B (+8%); Renewable Diesel +$122M (+10%); Midstream +$121M (+8%).