Marathon Petroleum Corp. (MPC) reported first-quarter 2026 net income of $511 million. Earnings reached $1.73 per diluted share, reversing a $74 million net loss from the same period last year. Adjusted EBITDA rose to $2.8 billion from $2.0 billion in the first quarter of 2025.
Refining and marketing segment margins increased to $17.74 per barrel. This figure represents a climb from $13.38 per barrel in the prior-year quarter. CEO Maryann Mannen attributed the performance to integrated system reliability and disciplined capital deployment.
The company completed approximately 40% of its planned 2026 turnaround activity during the quarter. The Garyville jet project also became operational in the first quarter. These operational milestones aim to position the company to meet higher market demand.