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Investing.com -- Murphy USA Inc. (NYSE:MUSA) reported first quarter earnings that fell short of analyst expectations, sending shares down 1.8% in after-hours trading.
The fuel retailer and convenience store operator posted earnings per share of $2.63, missing the consensus estimate of $3.93. Revenue came in at $4.53 billion, below analyst projections of $4.8 billion.
Net income for the quarter ended March 31, 2025 was $53.2 million, down from $66.0 million in the same period last year. Total (EPA:TTEF) fuel contribution increased slightly to $287.3 million from $286.1 million a year ago, as higher fuel margins were offset by lower volumes sold.
Retail fuel volumes decreased 1.9% YoY, while same-store sales volumes declined 4.2%. However, merchandise contribution dollars rose 2.3% to $195.9 million on improved margins.
"Murphy USA’s Q1 results fell slightly short of internal expectations, but all in all, the business performed admirably despite a 2% comparison headwind from temporal factors," said President and CEO Andrew Clyde.
The company repurchased approximately 321,100 shares for $151.2 million during the quarter. It also raised its quarterly dividend by 2% to $0.50 per share.
Murphy USA operated 1,761 retail stores at the end of the first quarter, a net increase of 4 locations from the previous quarter. The company has 31 stores currently under construction.
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