EL DORADO, Ark.–(BUSINESS WIRE)–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, 2022.
Key Highlights:
- Net income was $183.3 million, or $7.53 per diluted share, in Q2 2022 compared to net income of $128.8 million, or $4.79 per diluted share, in Q2 2021
- Total fuel contribution (retail fuel margin plus product supply and wholesale (“PS&W”) results including RINs) for Q2 2022 was 34.9 cpg, compared to 28.2 cpg in Q2 2021
- Total retail gallons increased 7.8% to 1.2 billion gallons in Q2 2022 compared to 1.1 billion gallons in Q2 2021, while volumes on a same store sales (“SSS”) basis increased 4.8%
- Merchandise contribution dollars for Q2 2022 increased 6.6% to $196.7 million on average unit margins of 19.8%, compared to the prior-year quarter contribution dollars of $184.5 million on unit margins of 19.2%
- Food and beverage contribution margin increased 5.0% in Q2 2022 from the prior-year period and sales dollars improved 10.5%
- During Q2 2022, the Company opened 9 new Murphy Express stores which increased the quarter-end store count to 1,695. On a year-to-date basis, the Company has opened 15 new Murphy Express stores, one new QuickChek store, and 12 raze-and-rebuild Murphy USA locations. There are 17 new Murphy Express stores, 6 new QuickChek stores, and 15 raze-and-rebuild Murphy USA stores currently under…
