Murphy USA IncMUSA
▲ PositiveCapitalrelevance
Strong Q2 earnings with higher fuel margins and raised dividend
Impact on stocks 1
Consumer Discretionary
Murphy USA IncMurphy USA reported second-quarter net income of $209.1 million, or $11.27 per diluted share, up from $145.6 million and $7.36 per share a year earlier, driven by surging fuel margins. Adjusted EBITDA rose to $377.3 million from $286.0 million, with total fuel contribution reaching 40.6 cents per gallon versus 32.0 cents, and retail fuel margin up 20.2% to 35.1 cents per gallon. The company also grew retail gallons by 3.9%, raised its dividend 28% to $0.64 per share, and bought back shares worth $76.8 million. However, operating expenses increased to $308.7 million from $275.2 million, partly due to higher payment processing fees, and fuel supply contribution excluding renewable credits widened to a loss of $54.9 million. Management's full-year outlook assumes second-half fuel margins averaging 35 cents per gallon, down from 37.9 cents in the first half, with capital expenditures guided to the higher end of the $475 million to $525 million range.
Murphy USA IncStrong Q2 earnings with higher fuel margins and raised dividend