Murphy USA Inc. Reports Strong Q4 2024 Results and 2025 Guidance

Murphy USA Inc. (NYSE: MUSA), a leading marketer of retail motor fuel products and convenience merchandise, recently reported its financial results for the three months and twelve months ended December 31, 2024. The company's strong performance in its core areas, particularly fuel and nicotine categories, drove significant value and contributed to its overall growth.

Key highlights from Murphy USA's Q4 2024 results include:

* Net income of $142.5 million, or $6.96 per diluted share, compared to $150.0 million, or $7.00 per diluted share, in Q4 2023.
* Total fuel contribution remained steady at 32.5 cpg in Q4, while total retail gallons decreased 1.0%.
* Merchandise contribution increased 5.6% to $208.8 million on average unit margins of 19.9%.
* The company repurchased approximately 239.7 thousand common shares for $126.2 million at an average price of $526.61 per share during Q4 2024.

For the full year 2024, Murphy USA reported:

* Net income of $502.5 million, or $24.11 per diluted share, compared to $556.8 million, or $25.49 per diluted share, in 2023.
* Total fuel contribution was 30.5 cpg, compared to 31.4 cpg in 2023.
* Total retail gallons were 4.8 billion gallons for both the full year 2024 and 2023, with volumes on a same store sales ("SSS") basis decreasing 1.1% compared to the prior-year period.

Murphy USA's strong performance in 2024 demonstrates the resilience, durability, and effectiveness of its advantaged business model. The company's core areas, particularly its 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 the Northeast market, especially for food retailers.

The company accelerated its new-store activity in 2024, completing 32 new-to-industry (NTI) stores and 47 raze and rebuilds, while increasing its growth trajectory in 2025 and 2026. Murphy USA remains committed to organic growth in attractive markets, leveraging its strengths and capabilities to take share, and investing in innovation to deliver exceptional value to its customers. With its balanced capital allocation strategy, the company expects to grow its advantaged position while continuing to deliver on its track record of exceptional shareholder returns.



In 2025, Murphy USA expects to open up to 50 new stores and complete up to 30 raze-and-rebuilds. The company projects merchandise contribution of $855-875 million and capital expenditures of $450-500 million. Murphy USA's strong performance in 2024 and its ambitious growth plans for 2025 indicate a promising outlook for the company and its shareholders.