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 nine months ended September 30, 2021.
Key Highlights:
- Net income was $104.0 million, or $3.98 per diluted share, in Q3 2021 compared to net income of $66.9 million, or $2.27 per diluted share, in Q3 2020
- Total fuel contribution (retail fuel margin plus product supply and wholesale (“PS&W”) results including RINs) for Q3 2021 was 26.6 cpg, compared to 22.3 cpg in Q3 2020
- Total retail gallons increased 11.4% in Q3 2021 compared to Q3 2020, while volumes on a same store sales (“SSS”) basis increased 1.9%
- Merchandise contribution dollars increased 58.6% to $187.3 million compared to the prior-year quarter, on average unit margins of 19.6% in the current quarter, primarily attributable to the QuickChek acquisition
- Food and beverage contribution margin increased significantly to 14.8% of total merchandise contribution dollars in Q3 2021 compared to 0.9% in the prior year period due to the inclusion of QuickChek in the current period
- During Q3 2021, the Company opened 4 new Murphy Express stores and 3 QuickChek stores. There are 16 new Murphy Express sites, 3 new QuickChek sites, and 12 raze-and-rebuild Murphy USA sites currently under construction
- Common shares repurchased during Q3 2021 were approximately 0.2 million for $33.2 million at an average price…
