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M Marathon MARATHON ● ● Petroleum Corporation NEWS RELEASE Marathon Petroleum Corp. Reports Second - Quarter 2021 Results Reported second - quarter income of $ 8.5 billion , or $ 13.00 per diluted share , which includes net pre - tax benefits of $ 11.6 billion ; reported adjusted income of $ 437 million , or $ 0.67 per diluted share Continued focus on advancing renewable projects and lowering cost structure Closed Speedway sale ; repurchased approximately $ 1 billion of shares and commencing next steps towards completing the remaining $ 9 billion return of capital Published annual Sustainability and Climate Reports FINDLAY , Ohio , Aug. 4 , 2021 – Marathon Petroleum Corp. ( NYSE : MPC ) today reported net income of $ 8.5 billion , or $ 13.00 per diluted share , for the second quarter of 2021 , compared with net income of $ 9 million , or $ 0.01 per diluted share , for the second quarter of 2020 . Excluding the adjustments shown in the accompanying release tables , adjusted net income was $ 437 million , or $ 0.67 per diluted share , for the second quarter of 2021. This compares to an adjusted net loss of $ 868 million , or $ ( 1.33 ) per diluted share , for the second quarter of 2020. Adjusted results for these periods exclude net pre - tax benefits of $ 11.6 billion and $ 1.4 billion , for the second - quarter 2021 and second - quarter 2020 , respectively . " As demand slowly recovers from the effects of the pandemic , we continue to focus on the aspects of our business within our control , " said President and Chief Executive Officer Michael J. Hennigan . " This quarter , we closed the Speedway sale and , as part of our capital return commitment , announced $ 10 billion of the proceeds would be allocated to share repurchases . We have repurchased approximately $ 1 billion of shares , achieved our targeted structural debt reduction of $ 2.5 billion , and are commencing the next steps towards completing the remaining $ 9 billion return of capital over the next 12 to 16 months . " Our renewable projects are progressing well . The Dickinson renewable diesel plant reached its design capacity during the quarter . Detailed engineering and permitting progressed for the conversion of Martinez to renewable fuels . As we challenge ourselves to lead in sustainable energy , this quarter , we published our annual Sustainability and Climate Reports . Both reports expand our disclosures around environmental , social and governance matters . " 1