EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) today announced participation in an upcoming investor conference. Mindy West, President and CEO, will present at the Raymond James 2026 Institutional Investors Conference on Monday, March 2, 2026, at 9:15 a.m. Eastern Time (ET). The live audio webcast presentation will be available on the company's website at https://ir.corporate.murphyusa.com. About Murphy USA Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenienc. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number 001-35914 MURPHY USA INC. (Exact name of registrant as specified in its charter) Delaware 46-2279221 (Sta ...

Dividend Announcement - Murphy USA Inc. declared a quarterly cash dividend of $0.63 per share, which annualizes to $2.52 per share, marking a 29% increase from the Q1 2025 dividend [1][1][1] Company Overview - Murphy USA Inc. operates over 1,800 stores primarily in the Southwest, Southeast, Midwest, and Northeast United States, serving approximately two million customers daily [1][1][1] - The company ranks 231 among Fortune 500 companies and employs around 16,900 individuals [1][1][1] Financial Performance - For Q4 2025, Murphy USA reported a net income of $141.9 million, or $7.53 per diluted share, slightly down from $142.5 million, or $6.96 per diluted share, in Q4 2024 [1][1][1] - The full-year net income for 2025 was $470.6 million, or $24.10 per diluted share [1][1][1] Board of Directors Update - Michael G. Kulp has been appointed as an independent director, bringing extensive experience in retail food service operations and leadership in scaling multi-unit businesses [1][1][1]

Core Insights - Murphy USA Inc. (MUSA) reported fourth-quarter 2025 adjusted earnings per share of $7.53, exceeding the Zacks Consensus Estimate of $6.67 and up from $6.96 in the previous year, driven by improved merchandise results [1][10] - Operating revenues reached $4.7 billion, a 0.7% year-over-year increase, but fell short of consensus expectations by $57 million due to lower petroleum product sales [1][2] Revenue Breakdown - Petroleum product sales amounted to $3.6 billion, down 0.6% from the fourth quarter of 2024 and below the estimate of $3.7 billion [2] - Merchandise sales increased by 3.7% year over year to $1.1 billion, contributing positively to overall revenue [2] Fuel Contribution - Total fuel contribution rose 8.9% year over year to $423.6 million, with a retail fuel margin of 34.3 cents per gallon, up 5.5% from the previous year [3][10] - Retail fuel contribution improved 10.8% year over year to $383 million, with retail gallons increasing by 3.1% to 1,234.2 million, surpassing estimates [4] Merchandise Contribution - Merchandise contribution increased by 2.1% to $213.2 million, although unit margins slightly decreased to 19.6% from 19.9% a year ago [5] - On a same-store sales (SSS) basis, total merchandise contribution rose by 0.4%, primarily due to a 2.7% increase in non-nicotine margins [5] Balance Sheet and Share Buyback - As of December 31, Murphy USA had cash and cash equivalents of $28.9 million and long-term debt of $2.2 billion, with a debt-to-capitalization ratio of 77.6% [7] - The company repurchased shares worth $67.5 million during the quarter [7] 2026 Guidance - For 2026, Murphy USA plans to open 45 to 55 new stores and complete up to 30 raze-and-rebuild projects, with merchandise contribution expected to be between $890 million and $900 million [8][10] - Capital expenditures are projected to total between $475 million and $525 million for the year [8]

Financial Data and Key Metrics Changes - The company is guiding for EBITDA of approximately $1 billion for the current year, with expectations for stronger growth in 2027 and 2028 to reach a long-term target of $1.2 billion [19][21] - The company expects to see same-store volume pressure of 1%-3% in a lower-price environment, necessitating competitive pricing strategies [33][36] Business Line Data and Key Metrics Changes - The company anticipates that each new class of 50 stores will generate between $35 million and $40 million of EBITDA at maturity after a three-year ramp [58] - The company has seen strong performance in the nicotine category, particularly in pouches and other products, despite some volume declines in cigarettes [67] Market Data and Key Metrics Changes - Competitive pressures vary by market, with some states like Texas showing higher margins and volumes, while others like Colorado and Florida are experiencing lower metrics [7][8] - The company is experiencing a relatively stable and low fuel price environment, which impacts customer price sensitivity [27][28] Company Strategy and Development Direction - The company is focusing on a culture shift towards quicker collaboration and more nimble decision-making, while maintaining its core strategies [80] - The company aims to reduce reliance on fuel and tobacco while exploring innovation opportunities in its portfolio, customer engagement, and advanced technology [81][82] Management's Comments on Operating Environment and Future Outlook - Management believes that competition, while disruptive, ultimately leads to higher margins as markets stabilize [9] - The company is preparing for potential volatility in the fuel environment, which could impact same-store performance [21][27] Other Important Information - The company is proactively investing in maintenance to enhance uptime and customer experience, expecting to save approximately $6 million to $8 million in maintenance costs [12] - The company has a modest exposure to SNAP changes, which are expected to have a limited impact on overall sales [70][72] Q&A Session Summary Question: Competitive pressure compared to 6-8 months ago - Management indicated that competitive pressures vary by market and that new entrants typically price low initially, impacting same-store volumes [5][6] Question: Maintenance capital spending and its impact - Management clarified that increased maintenance capital spending is a proactive measure to avoid future disruptions and enhance customer experience [10][11] Question: Long-term EBITDA growth drivers - Management discussed the importance of sustaining 50+ new store openings annually and the impact of a normalized fuel environment on EBITDA growth [20][21] Question: Fuel margins outlook - Management expects fuel margins to remain stable, with a target of around $0.30 per gallon, despite low volatility [27][28] Question: Nicotine environment outlook - Management believes the company is well-positioned to take share in the nicotine market and will continue to be promotion-driven [37][38] Question: Per-store expense growth drivers - Management highlighted successful expense management strategies and expects per-store expense growth to be around 4% going forward [42][44] Question: Impact of winter storms on operations - Management acknowledged higher maintenance costs due to winter storms but also noted higher margins leading into those storms [46][47] Question: QuickChek brand performance - Management reported stronger sales at QuickChek but acknowledged margin pressures and the need to refocus on core offerings [84][85]

Financial Data and Key Metrics Changes - The company reported a guidance for 2026 capturing the timing and scale impacts of its new store program, expecting 50-plus new store openings annually to contribute $35 million-$40 million of EBITDA once they complete their three-year ramp [20][59] - The company anticipates a same-store volume pressure of 1%-3% in a lower-price environment, necessitating investment to maintain competitive positioning [33][36] - The projected maintenance capital spending is expected to save approximately $6 million-$8 million in maintenance costs by proactively replacing aging equipment [12] Business Line Data and Key Metrics Changes - Same-store gallons were impacted by competitive pressures, with varying performance across states; Texas showed higher margins and volumes, while Colorado and Florida experienced lower metrics [7][8] - The company is focusing on enhancing its nicotine product offerings, with strong growth expected in pouches and other nicotine categories, despite some anticipated challenges in duplicating past promotional successes [38] Market Data and Key Metrics Changes - The company expects fuel margins to remain stable at around $0.30 per gallon, reflecting a structural component supporting margins despite low volatility [28][29] - The company has a modest exposure to changes in SNAP benefits, estimating a headwind of less than $5 million overall, primarily affecting discretionary categories [71] Company Strategy and Development Direction - The company is committed to a culture shift aimed at quicker collaboration and more nimble decision-making, while maintaining its core strategies of everyday low pricing and continuous improvement [80] - The focus will be on innovation to support core business growth, with an emphasis on portfolio, customer engagement, and advanced technology [82] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's ability to grow EBITDA, contingent on a more normalized fuel environment and sustained new store openings [21][22] - The company is prepared for potential impacts from winter storms and is cautious about increasing EBITDA guidance due to uncertainties in the operating environment [70] Other Important Information - The company is actively pursuing small tuck-in acquisitions to enhance market density and improve operational efficiency [51] - QuickChek brand is focusing on core products and simplifying its menu to improve margins and customer experience [85] Q&A Session Summary Question: Competitive pressure compared to 6-8 months ago - Management noted that competitive pressures vary by market, with some states experiencing higher margins and volumes while others face challenges [7][9] Question: Maintenance capital spending impact - Management clarified that the increase in maintenance capital spending is a proactive measure to avoid future disruptions and enhance customer experience [11] Question: Long-term EBITDA growth drivers - Management indicated that achieving long-term EBITDA guidance depends on sustaining new store openings and improving operational initiatives [20][22] Question: Fuel margin outlook - Management expects fuel margins to remain stable, with low volatility impacting customer price sensitivity [28] Question: Nicotine environment outlook - Management believes it remains an ideal retailer for nicotine manufacturers and anticipates continued growth in nicotine categories [38] Question: Per-store expense growth drivers - Management highlighted successful expense management strategies, including self-maintenance and improved loss prevention measures [42][43] Question: Impact of winter storms on operations - Management acknowledged potential higher maintenance costs due to winter storms but expects overall balance in margins [47] Question: QuickChek brand performance - Management reported stronger sales at QuickChek but noted ongoing margin pressures, focusing on core product offerings to drive traffic [85]

Murphy USA (NYSE:MUSA) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Speaker9Thank you for standing by. My name is Carly, and I will be your conference operator today. At this time, I would like to welcome everyone to the Murphy USA fourth quarter 2025 earnings Q&A call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the numb ...

Core Insights - Murphy USA reported $4.74 billion in revenue for Q4 2025, a year-over-year increase of 0.7% and an EPS of $7.53, up from $6.96 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $4.8 billion by -1.19%, while the EPS exceeded the consensus estimate of $6.67 by +12.84% [1] Financial Performance Metrics - Retail fuel volume was 1,234.20 million gallons, surpassing the average estimate of 1,204.63 million gallons [4] - Total fuel contribution was 34.3 cents per gallon, exceeding the average estimate of 33.69 cents [4] - PS&W including RINs contribution was 3.3 cents, below the average estimate of 4.01 cents [4] - Retail fuel margin was 31 cents, higher than the average estimate of 29.69 cents [4] - Operating revenues from petroleum product sales were $3.6 billion, slightly below the estimate of $3.68 billion, reflecting a -0.6% change year-over-year [4] - Operating revenues from merchandise sales were $1.09 billion, matching the average estimate and showing a +3.7% year-over-year change [4] - Other operating revenues were reported at $57 million, exceeding the average estimate of $37.43 million, with a year-over-year change of +39.4% [4] Stock Performance - Murphy USA shares returned +2.1% over the past month, outperforming the Zacks S&P 500 composite's +0.9% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Murphy USA (MUSA) came out with quarterly earnings of $7.53 per share, beating the Zacks Consensus Estimate of $6.67 per share. This compares to earnings of $6.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +12.84%. A quarter ago, it was expected that this gasoline station operator would post earnings of $6.6 per share when it actually produced earnings of $7.25, delivering a surprise of +9.85%.Over the last four quarters, ...

Financial Performance - Net income for Q4 2025 was $141.9 million, or $7.53 per diluted share, compared to $142.5 million, or $6.96 per diluted share, in Q4 2024[4] - For Q4 2025, total operating revenues were $4,743.6 million, a slight increase from $4,710.4 million in Q4 2024[25] - Net income for the twelve months ended December 31, 2025, was $470.6 million, compared to $502.5 million in 2024, reflecting a decrease of approximately 6.3%[25] - Net income for the three months ended December 31, 2025, was $166.4 million, compared to $162.9 million in the prior year[27] - EBITDA for Q4 2025 was $282.6 million, up from $264.6 million in Q4 2024, with total EBITDA for 2025 reaching $996.7 million compared to $990.3 million in 2024[38] - Adjusted EBITDA for Q4 2025 was $290.9 million, an increase from $278.3 million in Q4 2024, with total Adjusted EBITDA for 2025 at $1,019.4 million compared to $1,006.8 million in 2024[38] Revenue and Sales - Total fuel contribution for Q4 2025 was $423.6 million, an increase of $34.5 million, or 8.9%, compared to Q4 2024, driven by higher retail fuel margins and volumes[7] - Retail fuel margin in Q4 2025 was 31.0 cents per gallon (cpg), a 7.3% increase from the prior-year quarter[7] - Merchandise contribution dollars for Q4 2025 increased 2.1% to $213.2 million, with average unit margins of 19.6%[10] - Total retail gallons increased by 3.1% in Q4 2025, while same store sales (SSS) volumes declined by 0.6% compared to Q4 2024[4] - Total merchandise sales revenue same store sales for the three months ended December 31, 2025, was $204.6 million, up from $203.3 million in the same period of 2024[27] Expenses and Liabilities - Total store and other operating expenses for Q4 2025 were $281.3 million, an increase of $14.8 million compared to Q4 2024[11] - Total liabilities increased to $4,102.3 million as of December 31, 2025, from $3,701.5 million in 2024[33] - Long-term debt as of December 31, 2025, was $2,163.6 million, compared to $1,832.7 million in 2024[14] - The company’s depreciation and amortization increased to $276.8 million in 2025 from $248.0 million in 2024[35] Shareholder Actions - The company repurchased approximately 175.4 thousand shares for $67.5 million at an average price of $384.65 per share in Q4 2025[4] - The company repurchased approximately 175.4 thousand shares for $67.5 million during Q4 2025, with a total of 1.5 million shares repurchased for $652.0 million over the twelve months[15] - The company has $291.9 million remaining under the existing $1.5 billion share repurchase authorization, with an additional $2.0 billion capacity under the 2025 authorization[15] - The company declared a quarterly cash dividend of $0.63 per share, an 18.9% increase from September 2025, totaling $11.8 million for the quarter[16] Future Outlook - For 2026, the company expects organic growth with new store additions between 45 to 55, and capital expenditures projected between $475 million to $525 million[17] - The company anticipates a net income of $439 million for 2026, translating to an expected Adjusted EBITDA of about $1.0 billion[18] - The effective tax rate for 2026 is expected to be in the range of 23% to 25%[21] Cash Flow - Cash provided by operating activities for Q4 2025 was $245.5 million, slightly down from $248.7 million in Q4 2024, while total cash provided for the year was $813.9 million compared to $847.6 million in 2024[35] - The company reported a net cash outflow from investing activities of $114.8 million in Q4 2025, compared to $124.9 million in Q4 2024, with total outflow for the year at $436.0 million versus $445.8 million in 2024[35] - Financing activities resulted in a net cash outflow of $144.6 million in Q4 2025, compared to $129.3 million in Q4 2024, with total outflow for the year at $396.0 million against $472.6 million in 2024[35] - The company’s cash, cash equivalents, and restricted cash at the end of Q4 2025 stood at $28.9 million, down from $47.0 million at the end of Q4 2024[35] Store Operations - The company opened 29 new stores in Q4 2025, exceeding its full-year target of 50 new stores[3] - Store count at the end of the period increased to 1,800 from 1,757 year-over-year[27]