Revenue Growth Driven by Higher Throughput
Revenue increased 8.5% YoY from $31.5B to $34.2B in Q1 FY2026, suggesting improved refining throughput volumes and/or higher refined product prices compared to the prior-year period.
Marathon Petroleum Corp is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: MPC delivered a strong Q1 FY2026 turnaround with revenue rising 8.5% YoY to $34.2B, operating income more than doubling to $1.4B, and net income swinging from a $74M loss to a $511M profit.
Drawn from management commentary in the Q1 2026 10-Q:
Revenue increased 8.5% YoY from $31.5B to $34.2B in Q1 FY2026, suggesting improved refining throughput volumes and/or higher refined product prices compared to the prior-year period.
Operating income surged 104.4% YoY from $687M to $1.4B, reflecting improved refining margins and better cost management relative to revenue growth, with cost of revenue rising at a slower 6.5% pace versus revenue's 8.5% gain.
Net income recovered dramatically from a loss of $74M in Q1 FY2025 to a profit of $511M in Q1 FY2026, a 790.5% YoY improvement, driving basic and diluted EPS to $1.73 versus -$0.24 in the prior year.
Revenue
$34.2B
++8.51% YoY
EPS (Basic)
$1.73
++820.83% YoY
Operating Income
$1.4B
++104.37% YoY
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