Murphy USA Inc., the national gasoline and convenience store chain based in El Dorado, reported strong second-quarter financial results late Wednesday, beating market analysts’ expectations with $3.83 billion in revenue and net income of $51.8 million, or $1.58 per diluted share.
The revenue number was well above consensus estimates of $3.55 billion and down only slightly from an exceptional second quarter of 2017, when income was $55.5 million.
Total retail gallons sold were up 1.6 percent year over year, and dollars from other merchandise sold were up 4.6 percent from the same quarter in 2017. The company opened six new stores and reopened nine that had been razed and rebuilt. The company also repurchased 1.1 million common shares at an average price of $88.22 per share.
“Second-quarter financial results showed improvement across all major parts of the business,” President and CEO Andrew Clyde said in a statement. “Customer traffic was solid as retail fuel volumes moderated year-over-year declines.”
Clyde cited success in reducing fuel margin volatility, “merchandising efforts that exhibited robust comps against prior-year results” and store-level management that cut costs.
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