Murphy USA sees dip in net income, revenues
by February 5, 2025 4:14 pm 134 views

Murphy USA reported Wednesday (Feb. 5) net income of $142.5 million, or $6.96 per diluted share, in its fourth quarter, compared to $150 million, or $7 per diluted share, one year ago.
For the full year, Murphy USA posted net income of $502.5 million, or $24.11 per diluted share, compared to 2023 net income of $556.8 million, or $25.49 per diluted share.
Revenue for the fourth quarter topped $4.71 billion versus $5.07 billion a year ago. For the full year, Murphy USA reported annual revenues of $20.244 billion in 2024 compared to $21.529 billion in 2023.
Company officials said net income for the quarter was lower versus the prior-year quarter due primarily to higher store operating expenses, higher depreciation and amortization, an impairment charge and higher loss on disposal of assets.
“Murphy USA’s strong performance in 2024 demonstrates the resilience, durability, and effectiveness of our advantaged business model,” said President and CEO Andrew Clyde. “Strength in our core areas, particularly our fuel and nicotine categories, continued to drive significant value, with retail fuel margins up 50 basis points year-over-year, despite lower volatility and a flatter price profile.
“Total merchandise margin dollars increased nearly 4% year-over-year, despite challenges in our Northeast market especially for food retailers. We accelerated our new-store activity in 2024, completing 32 new-to-industry (NTI) stores and 47 raze and rebuilds, while increasing our growth trajectory in 2025 and 2026 as we focus on long-term growth opportunities.
“Looking ahead, we remain committed to organic growth in attractive markets, leveraging our strengths and capabilities to take share, and investing in innovation to deliver exceptional value to our customers. With our balanced capital allocation strategy, we expect to grow our advantaged position while continuing to deliver on our track record of exceptional shareholder returns,” said Clyde.
Other key highlights include:
- Merchandise contribution dollars for Q4 2024 increased 5.6% to $208.8 million on average unit margins of 19.9%, compared to Q4 2023 contribution dollars of $197.7 million on unit margins of 19.4%.
- For the full year 2024, merchandise contribution dollars increased 3.8% to $833.7 million and average unit margins were 19.8% and 19.7% in 2024 and 2023, respectively.
- During Q4 2024, the company repurchased approximately 239,700 common shares for $126.2 million at an average price of $526.61 per share.
- For the year 2024, the company repurchased slightly more than 938,500 shares for a total of $446.6 million at an average of $475.86 per share.
Shares of Murphy USA (NYSE: MUSA) closed Wednesday at $515.95. The company’s stock has traded between $361.74 and $561.08 over the past 52 weeks.