Murphy USA Earnings: MUSA Stock Surged Despite Q1 Profit Miss

Murphy USA (NYSE:MUSA) reported its latest quarterly earnings results late on Monday, which pushed MUSA stock upwards even though the company’s profit and revenue were both below what analysts were projecting in the Wall Street consensus estimate.

Murphy USA EarningsThe El Dorado, Ar.-based retail gas stations chain said that for its first quarter of its fiscal 2019, it amassed net income of $5.3 million, or 16 cents per share. This figure was 86.5% lower than the company’s net income from the year-ago quarter, which reached $39.3 million, or $1.16 per share.

This earnings total included roughly $35.3 million (after tax) that Murphy USA was responsible for from settlement of damages linked in connection with the 2010 Deepwater Horizon oil spill.. Analysts were calling for the company to rake in earnings of 27 cents per share in the Wall Street consensus estimate.

The company’s revenue came in at $3.12 billion, which is weaker than the $3.13 billion in sales that analysts called for. Murphy USA added that its total fuel contribution (retail fuel margin plus product supply and wholesale results) for the period tallied up to 12.3 cpg, above the 11.4 cpg during its first quarter of its 2018.

The business’ total retail gallons gained 3.9% during the period when compared to the same period in 2018, while volumes on a same store sales basis surged 1.8% year-over-year.

MUSA stock is up about 1.3% after hours thanks to the company’s strong quarterly earnings performance. Shares had been surging 1.5% during regular trading hours as Murphy USA geared up to reports its results for the period.

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