story from Talk Business, a TCW content partner
Murphy USA, the retail spinoff of Murphy Oil Corp. posted fourth quarter profits of $93.6 million on revenue of $4.19 billion. For the full year, El Dorado-based Murphy USA posted net income of $235 million on revenue of $18 billion.
The company also recognized a gain from its sale of a Texas ethanol plant in the last quarter of 2013.
“In completing the sale of the Hankinson ethanol plant for a premium price, we delivered on our commitment to rationalize non-core assets,” said President and CEO Andrew Clyde. “We continue to see non-tobacco growth expand through our innovative promotions and larger stores. We opened 18 stores in the quarter including 14 of our new format 1,200 sq. ft. stores. This includes our milestone 1,200th store in mid December in our hometown of El Dorado, Arkansas. Our financial position remains very strong.”
During 2013, Murphy USA opened a total of 39 retail locations, while one location was closed. Through mid-February 2014, the company has opened an additional five sites. With the addition of these stores in 2014, Murphy USA has 1,208 total locations in operation that include 1,022 Murphy USA sites and 186 Murphy Express sites. There are 15 sites under construction.
Murphy USA’s stock closed trading on Wednesday at $39.30 per share. The company’s shares have traded between $36.12 and $46.91 since it went public in early September 2013.