Marathon Petroleum Earnings Triple on Refining Rebound

Marathon Petroleum ($MPC) posted adjusted EBITDA of $11.7 billion in the third quarter of 2026, nearly four times the $3.2 billion it earned a year earlier, as refining margins rebounded sharply. Adjusted diluted earnings per share jumped to $26.93 from just $3.01 in the same period last year. The refiner returned $3.3 billion to shareholders, raised its dividend 10%, and approved a new $5 billion buyback authorization.