MUSA
Murphy USA Inc.408.53
+3.34+0.82%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Volatility, NTIs key to $1.2B target
Q&A fleshed out competitive dynamics, with new entrants disrupting volumes and margins for 3-12 months before markets stabilize and favor disciplined players like Murphy. Proactive maintenance capex will save $6M-$8M yearly while lifting uptime. Path to $1.2B EBITDA by '28 needs 50+ NTIs ramping $35M-$40M each, execution on initiatives, and fuel volatility—2026 faces scaling drag. Fuel outlook holds at ~$0.30/gal despite 1-3% volume pressure from low-vol environment. New CEO West eyes culture shift for nimbler innovation in portfolio, customers, tech. QuickChek refocuses on core amid traffic woes. Volatility remains key watch.
Key Stats
Market Cap
7.88BP/E (TTM)
17.33Basic EPS (TTM)
23.57Dividend Yield
0%Recent Filings
8-K
2026 guidance issued
Murphy USA presented at the Raymond James conference on March 2, 2026, unveiling 2026 guidance: 45-55 new stores, merchandise contribution $890-900M, store OpEx $37-38K APSM, capex $475-525M. New stores outperform chain averages with $76K adjusted EBITDA APSM. Fuel margins held flat amid low prices; EBITDA targets $1.03B base in 2027.
10-K
FY2025 results
Murphy USA grew to 1,800 stores in FY2025 ended December 31, 2025, adding 51 new sites while fuel contribution held steady at 30.7 cpg on 4.8 billion gallons sold, flat year/year yet resilient amid crude averaging $65 per barrel. Merchandise margins expanded to 20.2% from 19.8%, lifting contribution 4.2% despite same-store sales dipping 0.3%. Store operating expenses climbed 4.1% on labor and maintenance, trimming net income to $470.6 million from $502.5 million. Q4 repurchases tallied 175,446 shares at $380.91 average; $291.9 million remains under 2023 authorization, with $2.0 billion new buyback approved. Plans call for 45-55 NTI stores in 2026. Walmart retains rights that may crimp site sales.
8-K
Q4 earnings steady, 2026 guidance out
Murphy USA posted Q4 2025 net income of $141.9 million, nearly matching last year's $142.5 million, fueled by 34.3 cpg fuel contribution—up from 32.5 cpg—and 3.1% higher retail gallons, yet offset by rising store expenses. Full-year net income dipped to $470.6 million from $502.5 million. Shares repurchased: $652 million. New stores beat targets. 2026 guidance eyes 45-55 openings, $439 million net income (modeling). Volumes slip, but growth holds.
8-K
CEO promotion and retention grants
Murphy USA promoted Mindy K. West to CEO effective January 1, 2026, with a $1M base salary, 150% target cash incentive, and $5M long-term award. The board approved one-time retention grants totaling $2.5M to four key executives, cliff-vesting in three years, to steady leadership amid the transition. Retention locks in talent. No financial impacts disclosed.
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