Marathon Petroleum (MPC) Exceeds Estimates in Q1, Boosts Stock Buyback Program

Marathon Petroleum Corporation (NYSE:MPC) is included among the 10 Energy Stocks that Crushed Earnings Estimates in the First Quarter.

Marathon Petroleum Corporation (NYSE:MPC) is a leading integrated downstream and midstream energy company that operates the largest refining system in the United States.

Marathon Petroleum Corporation (NYSE:MPC) reported better-than-expected results for its Q1 2026 on May 5. The company’s adjusted EPS of $1.65 comfortably beat forecasts by $0.90, as supply disruptions driven by the Middle East conflict sent refining margins soaring. Its revenue also surged by 8.5% YoY to almost $34.6 billion and topped estimates by over $3.7 billion.

Marathon Petroleum Corporation (NYSE:MPC) delivered an adjusted EBITDA of $2.8 billion during the first quarter, up from $2 billion in the year-ago period. The strong performance comes as the company remains largely insulated from global crude supply disruptions, since its ​crude sourcing comes mainly from the United States and Canada. As the top refiner in the US by volume, Marathon’s refining and marketing ‌margin ⁠was $17.74 per barrel during the quarter, 32.6% higher than last year.

Given the strong results, Marathon Petroleum Corporation (NYSE:MPC) boosted its share repurchase program by $5 billion on May 5. Following this increment, the company would have had $8.6 billion available under its share repurchase authorizations as of the end of the first quarter.

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