Marathon Q2 R&M EBITDA More than Triples Year on Year


   
   HOUSTON, TX (DTN) Marathon Petroleum reported on Tuesday (8/4) that the 
refining and marketing (R&M) segment adjusted EBITDA of $6.7 billion in the 
second quarter of 2026, up sharply from $1.9 billion in the same period of 
2025, driven by significantly higher crack spreads across all regions.

   R&M margin was $36.33 bbl for the second quarter of 2026, versus $17.58 bbl 
for the same period last year.

   R&M segment adjusted EBITDA was $24.84 bbl for the second quarter of 2026, 
versus $6.79 bbl year-over-year. Segment adjusted EBITDA excludes planned 
turnaround costs, which totaled $275 million in the quarter and $250 million in 
the second quarter of last year.

   Refining operating costs were $5.72 bbl for the second quarter of 2026, 
versus $5.34 bbl for the second quarter of 2025, primarily driven by decreased 
utilization due to planned downtime in the Mid-Continent region compared to the 
prior-year quarter.

   Crude capacity utilization was nearly 94%, resulting in total throughput of 
2.9 million bpd in the second quarter of 2026.

   Midstream segment adjusted EBITDA was $1.8 billion in the second quarter of 
2026, versus $1.6 billion for the same period of 2025. The increase was driven 
by increased rates and throughputs, including growth from equity affiliates and 
acquisitions, partially offset by the divestiture of non-core gathering and 
processing assets.




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