Murphy USA reports steady Q4 net income

Overview

• Retail motor fuel marketer's Q4 net income nearly flat yr/yr at $141.9 mln

• Adjusted EBITDA for Q4 beat analyst expectations

• Company repurchased 175.4k shares for $67.5 mln in Q4

Outlook

• Murphy USA expects to open 45 to 55 new stores in 2026

• Company projects 2026 merchandise contribution between $890 mln and $900 mln

• Murphy USA anticipates 2026 capital expenditures of $475 mln to $525 mln

Result Drivers

• FUEL CONTRIBUTION - Higher retail fuel margins and increased volumes drove an 8.9% increase in total fuel contribution dollars in Q4 2025

• MERCHANDISE SALES - Merchandise contribution dollars rose 2.1% in Q4 2025, attributed to higher sales volumes despite a slight decrease in unit margins

• STORE EXPENSES - Increased store operating expenses and higher interest expenses impacted net income despite higher fuel and merchandise contributions

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the oil & gas refining and marketing peer group is "buy."

• Wall Street's median 12-month price target for Murphy USA Inc is $435.00, about 0% above its February 3 closing price of $434.84

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nBw17yrkDa

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