Marathon Petroleum reported significant year-over-year growth in Q3 2026 net income on Nov. 3. Earnings per share were $26.93, above analysts’ estimate of $25.37, while revenue reached $56.5 billion versus an estimate of $46.6 billion, up 62.3% from a year earlier. The company attributed the earnings surge to robust refining margins and record utilization rates. Its board approved an additional $5 billion share repurchase authorization, and the company announced completion of a $4.2 billion asset sale to sharpen its Gulf Coast growth strategy.
The U.S. refiner finalized a major asset divestiture alongside strong Q3 earnings driven by robust refining margins and record facility utilization rates.
Read the full storyAdjusted EBITDA rose to $11.7 billion, while the refining margin reached $45.70 per barrel as refineries ran at full capacity.
The results cover the company's Q3 FY2026. EPS came in above analysts' estimate by 6.1%; revenue above the estimate by 21.2%.