Marathon Petroleum reports surging third-quarter profit and strategic asset sale
Marathon Petroleum reported third-quarter 2026 net income of $7.4 billion, or $26.59 per diluted share, versus $1.4 billion, or $4.51 per diluted share, a year earlier. Adjusted EBITDA reached $11.7 billion, while the company raised its quarterly dividend by 10%, authorized an incremental $5 billion share repurchase, and returned $3.3 billion to shareholders. Marathon also agreed to divest the St. Paul Park and Mandan refineries and related midstream assets for $4.2 billion, with plans to prioritize reinvestment in the Gulf Coast.
Why it matters
The earnings release increases the cash being returned to shareholders through dividends and repurchases, while the asset sale shifts Marathon Petroleum's portfolio toward Gulf Coast investments. Repurchases may be suspended or discontinued depending on market and business conditions.
Key facts
- 1Third-quarter 2026 net income attributable to Marathon Petroleum was $7.4 billion, or $26.59 per diluted share, compared with $1.4 billion, or $4.51 per diluted share, in the third quarter of 2025. prnewswire.com
- 2Third-quarter 2026 adjusted EBITDA was $11.7 billion, compared with $3.2 billion in the third quarter of 2025. prnewswire.com
- 3The board approved an incremental $5 billion share repurchase authorization, bringing available authorizations to $8.1 billion as of September 30, 2026. prnewswire.com
- 4Marathon Petroleum announced the sale of the St. Paul Park and Mandan refineries and related midstream assets for $4.2 billion. prnewswire.com
- 5Marathon Petroleum raised its quarterly dividend by 10% and returned $3.3 billion of capital to shareholders during the quarter. prnewswire.com
- 6Marathon Petroleum agreed to sell the two refineries and related assets to CVR Energy for $4.2 billion. investing.com
Open questions
- reports third-quarter revenue of $56.03B, while, and report $56.49B for the same metric and period.
- alone says Marathon Petroleum warned that high refining margins may not persist and guided lower fourth-quarter throughput.
Summary written by AlphAI AI Desk from 11 of 11 sources. Not investment advice. Figures are as stated by the linked sources.