Marathon Petroleum Corp is expected to report Q2 2026 revenue of $40.87 billion and EPS of $14.52, while the stock currently trades at $316.47 against an average analyst target of $344.51.
Investors are primarily focused on the Refining & Marketing (R&M) margin per barrel, which is projected to reach $32.86 for the Q2 2026 period.
This windfall in profitability is driven by record-high global crack spreads resulting from heightened geopolitical tensions and supply disruptions in the Middle East. Analysts will also scrutinize the pace of Marathon’s aggressive $5 billion share buyback program as the company translates peak refining margins into significant free cash flow.