Business
Murphy USA Inc. Reports Second Quarter 2026 Results
Murphy USA Inc. Reports Second Quarter 2026
About this update from Murphy Usa Inc.
Murphy USA Inc. (NYSE: MUSA), a leading marketer of retail motor fuel products and convenience merchandise, today announced financial results for the three and six months ended June 30, 2026. Key Highlights: Net income was $209.1 million, or $11.27 per diluted share, in Q2 2026 compared to net income of $145.6 million, or $7.36 per diluted share, in Q2 2025. Total fuel contribution for Q2 2026 was 40.6 cpg, compared to 32.0 cpg in Q2 2025. Total retail gallons increased 3.9%, and volumes on a same store sales ("SSS") basis increased 0.5%, in Q2 2026 compared to Q2 2025. Merchandise contribution dollars for Q2 2026 increased 4.0% to $227.4 million on average unit margins of 20.1%, compared to Q2 2025 contribution dollars of $218.7 million on unit margins of 20.0%. During Q2 2026, the Company repurchased approximately 143.1 thousand common shares for $76.8 million at an average price of $536.60 per share. The Company paid a quarterly cash dividend of $0.64 per share, or $2.56 per share on an annualized basis, on June 1, 2026, a 28.0% year-over-year increase from June of 2025, for a total cash payment of $11.8 million. In May 2026, the Company issued $500 million of Senior Notes due 2034 and used the majority of the net proceeds to retire its $300 million Senior Notes due 2027 and pay down outstanding amounts on its revolver. "Murphy USA delivered another quarter of strong financial and operational performance, demonstrating the earnings power and durability of our low-cost, high-volume business model," said President and CEO Mindy West. "Retail fuel margins were reflective of persistent volatility throughout the second quarter, as the Company delivered year-over-year and sequential improvement in both same-store and total fuel volumes, which were up 0.5% and 3.9%, respectively. Fuel results, together with merchandise contribution growth and continued expense discipline, drove meaningful growth in earnings and Adjusted EBITDA during the quarter. Given strong year-to-date results, while we remain in line with most of our guided performance metrics, market conditions remain supportive of healthy retail margins and suggest the business is on pace to deliver significantly higher Net Income and Adjusted EBITDA in 2026. If we assume second half all-in fuel margins average 35 cents per gallon, versus 37.9 cents per gallon in the first half, we expect the business t...