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Murphy USA Inc. reports news on a retail fuel and convenience-store business operating under the Murphy USA, Murphy Express and QuickChek brands. Company updates commonly cover retail motor fuel volumes and margins, merchandise contribution, fuel supply activity, new-store development and operating expenses across stores located primarily in the Southwest, Southeast, Midwest and Northeast United States.
Recurring announcements also include quarterly results, guidance, dividend declarations, share repurchase activity, investor presentations and board or executive leadership changes. The company’s business mix includes gasoline sales, convenience merchandise and fuel marketed to unbranded wholesale customers through terminal and pipeline positions.
Murphy USA (NYSE: MUSA) announced its Q2 2024 results. Key highlights:
Net income was $144.8 million, or $6.92 per diluted share, up from $132.8 million, or $6.02 per diluted share, in Q2 2023. Total fuel contribution increased to 31.7 cpg from 29.5 cpg. However, retail gallons decreased by 0.6%. Merchandise contribution rose by 4.7% to $216.5 million on 20.0% margins.
Murphy USA repurchased 238.4K shares for $107.1 million and paid a quarterly dividend of $0.44 per share, totaling $9.1 million. The effective tax rate was 25.1%, up from 24.4%.
Updated FY2024 guidance revises merchandise contribution to $830-$840 million from $860-$880 million due to weak consumer demand in the Northeast. Raze-and-rebuild sites guidance increased to over 40 from the range of 35-40.
EPS and Adjusted EBITDA increased, driven by higher fuel and merchandise contributions, partially offset by higher operating expenses.
Murphy USA (NYSE: MUSA) announced the release of its preliminary second quarter 2024 earnings results on July 31, 2024, after the market closes. The company has scheduled a conference call for August 1, 2024, at 10:00 a.m. CT to discuss these results. Investors can join the call by dialing 1-888-330-2384 using the conference ID 6680883. Alternatively, the call will be webcast live on Murphy USA’s Investor Relations website. A replay of the webcast will be available an hour after the call ends, along with a transcript of the discussion.
Murphy USA Inc. announced a dividend increase of 4.8%, with a quarterly cash dividend of $0.44 per share, or $1.76 per share annually. The dividend will be paid on June 3, 2024, to stockholders of record as of May 20, 2024.
Murphy USA Inc. reported its preliminary first-quarter 2024 results, showcasing a net income of $66.0 million, or $3.12 per diluted share, compared to $106.3 million, or $4.80 per diluted share, in Q1 2023. Retail gallons increased by 1.0%, while same-store sales volumes declined by 0.9%. Merchandise contribution dollars rose by 2.4% to $191.6 million. The Company repurchased 216.0 thousand common shares for $86.9 million and paid a quarterly dividend of $0.42 per share. Despite lower net income and Adjusted EBITDA, Murphy USA remains optimistic about its long-term value creation strategy.
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