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Murphy USA Q2 Earnings Smashes Estimates

ByShivani Kumaresan

Jul 28, 2022
Murphy USA Q2 Earnings Smashes Estimates

  • Murphy USA Inc MUSA reported second-quarter FY22 sales growth of 51.8% year-on-year to $6.77 billion, beating the consensus of $6.04 billion.
  • Total retail gallons increased 7.8% to 1.2 billion gallons versus 1.1 billion gallons last year. Volumes on a same-store sales basis increased 4.8%.
  • Merchandise contribution dollars rose 6.6% to $196.7 million.
  • The operating expenses for the quarter climbed 52.5% to $6.5 billion.
  • The operating margin was 3.9%, and operating income for the quarter rose 37.9% to $262.3 million.
  • The company held $240.4 million in cash and equivalents as of June 30, 2022.
  • Adjusted EBITDA increased 29.5% to $316.6 million.
  • EPS of $7.53 beat the analyst consensus of $4.41.
  • Murphy launched nine new retail locations in Q2, bringing the network total to 1,695.
  • “With inflation above its 40 year high, consumers need affordable every-day-low-prices on goods and services now more than ever,” said CEO Andrew Clyde.
  • Price Action: MUSA shares closed higher by 0.81% at $266.95 on Wednesday.

Image and article originally from www.benzinga.com. Read the original article here.