Fuel margins and volume growth drive a standout quarter for Murphy USA
MUSA sits 53% above its 52-week low of $349.83 on elevated volume (2.3× avg).
Summary
Murphy USA reported Q2 2026 net income of $209.1M ($11.27/share), up 44% YoY, as fuel margins expanded to 40.6 cpg and merchandise contribution grew 4%. Cash swelled to $175M and the revolver is undrawn.
Key Events · Earnings and Guidance · MUSA
-
Net Income Surges 44%
Higher fuel margins and volumes pushed Q2 2026 net income to $209.1M ($11.27 diluted EPS), compared with $145.6M ($7.36) in Q2 2025.
-
Fuel Margins Expand Sharply
Total fuel contribution rose to 40.6 cpg from 32.0 cpg a year ago, with retail fuel margin at 35.1 cpg and fuel supply/RINs adding 5.5 cpg.
-
Merchandise Contribution Up 4%
Merchandise contribution grew to $227.4M, supported by a 1.0% increase in same-store sales and a 4.6% improvement in nicotine margins.
-
Balance Sheet Strengthens
Cash and equivalents jumped to $175.4M from $28.9M at year-end 2025; the $750M revolving credit facility was fully undrawn at quarter-end.
Analysis · MUSA · Trade & Services
A volatile crude market played to the company's low-price model, propelling net income 44% higher to $209 million. Total fuel contribution widened sharply to 40.6 cents per gallon from 32.0 a year ago, while merchandise sales held firm. The balance sheet strengthened further — cash nearly tripled from year-end, the revolver sits undrawn, and $148 million in stock was bought back. These results underscore the resilience of the business in a rising fuel-price environment, though higher payment fees and operating costs are eating into some of the gains.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 29.9% of the 1591 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.24%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MUSA was trading at $536.18 on NYSE in the Trade & Services sector, with a market capitalization of approximately $9.9B. The 52-week trading range was $349.83 to $636.05. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.