Murphy USA (US:MUSA) ZACKS·2025-02-10 14:10Company Performance - Murphy USA Inc. reported fourth-quarter 2024 earnings per share of $6.96, exceeding the Zacks Consensus Estimate of $6.43, primarily driven by strong merchandise sales [1] - The company's operating revenues were $4.7 billion, a decrease of 7.1% year over year, missing the consensus mark by $169 million [2] - Revenues from petroleum product sales were $3.6 billion, down 9.6% from the fourth quarter of 2023 and below the estimate of $4.1 billion [2] Fuel Contribution - Total fuel contribution fell 1% year over year to $389.1 million, with a retail fuel margin of 32.5 cents per gallon, unchanged from the previous year [3] - Retail fuel contribution decreased 8% year over year to $345.8 million, with margins narrowing to 28.9 cents per gallon from 31.1 cents in the corresponding period of 2023 [4] - Retail gallons declined 1% year over year to 1,196.8 million, missing the estimate of 1,210 million [4] Merchandise Sales - Contribution from merchandise increased 5.6% to $208.8 million, supported by higher sales and an increase in unit margins from 19.4% to 19.9% [5] - On a same-store sales (SSS) basis, total merchandise contribution rose 2.4% year over year, primarily due to a 4.7% increase in nicotine margins [5] Balance Sheet - As of December 31, Murphy USA had cash and cash equivalents of $47 million and long-term debt of $1.8 billion, with a debt-to-capitalization ratio of 68.6% [7] - The company opened 22 new retail locations and closed five, bringing the total store count to 1,757 [7] - During the quarter, Murphy USA repurchased shares worth $126.2 million [7]