Marathon Petroleum posts $511M Q1 net income, boosts share buyback with $5B authorization

Marathon Petroleum reported a net income of $511 million in Q1 2026, a significant turnaround from a $74 million loss in Q1 2025. The company generated $1.1 billion in operating cash and completed about 40% of its planned 2026 refinery turnarounds. Key projects like the Garyville jet fuel upgrade came online, supporting growth and operational efficiency. Marathon also announced a new $5 billion share repurchase authorization, reinforcing its strong capital return strategy amid ongoing investments in refining and midstream infrastructure.