What to Expect From Marathon Petroleum's Next Quarterly Earnings Report

Marathon Petroleum Corporation (MPC), headquartered in Findlay, Ohio, functions as an integrated downstream energy company. Valued at $65.9 billion by market cap, the company refines, supplies, markets, and transports petroleum products. The refining giantis expected to announce its fiscal first-quarter earnings for 2026 before the market opens on Tuesday, May 5.

Ahead of the event, analysts expect MPC to report a profit of $1.10 per share on a diluted basis, up 558.3% from a loss of $0.24 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion. 

For the full year, analysts expect MPC to report EPS of $21.49, up 100.8% from $10.70 in fiscal 2025. However, its EPS is expected to decline 5.3% year over year to $20.36 in fiscal 2027. 

MPC stock has considerably outperformed the S&P 500 Index’s ($SPX) 28.9% gains over the past 52 weeks, with shares up 79.4% during this period. Similarly, it notably outperformed the State Street Energy Select Sector SPDR ETF’s (XLE) 41.3% returns over the same time frame.

On Feb. 3, MPC shares closed up more than 6% after reporting its Q4 results. Its adjusted EPS of $4.07 beat Wall Street expectations of $2.73. The company’s revenue stood at $33.4 billion, down marginally year over year. 

Analysts’ consensus opinion on MPC stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 19 analysts covering the stock, nine advise a “Strong Buy” rating, three suggest a “Moderate Buy,” and seven give a “Hold.” MPC’s average analyst price target is $244.94, indicating a potential upside of 9.4% from the current levels.