Marathon Petroleum Corp. Reports Third-Quarter 2026 Results

Impact · against what's priced in

MPC's results are overwhelmingly positive but largely validate assumptions the market has already priced in regarding refining margins and renewable diesel. The incremental $5 billion buyback authorization and the $4.2 billion asset divestiture provide fresh capital catalysts not fully captured in previous valuations.

MPC+0.10

Already priced in

The price assumes

elevated refining margins

The reported R&M margin of $45.70 per barrel confirms the recent surge the market already assumed, though the $9.9 billion EBITDA exceeds the prior $6.7 billion benchmark.

What MPC's price assumes · Sep 11

• MPC▲125%
• MPLX▲100%
• energy▲16%
• earnings
• oil
• midstream
• refining