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Murphy USA (MUSA) Misses Q1 EPS by 1c

May 4, 2015 5:09 PM

Murphy USA (NYSE: MUSA) reported Q1 EPS of $0.50, $0.01 worse than the analyst estimate of $0.51. Revenue for the quarter came in at $3 billion versus the consensus estimate of $2.9 billion.

Quarterly retail fuel sales increased 5.8% to 962.7 million gallons sold in 2015 compared to 910.1 million gallons sold in 2014. Retail fuel gallons sold on an APSM basis increased 1.0% to 253,663 gallons. Retail fuel margins (before credit card expenses) increased 3.2 cents per gallon (cpg) to 10.0 cpg in the 2015 quarter compared to 6.8 cpg in the 2014 period. Product supply and wholesale margin dollars excluding Renewable Identification Numbers (RINs) decreased to a loss of $1.1 million in the 2015 period compared to income of $29.8 million in the first quarter of 2014, which included a benefit of $17.8 million related to a LIFO decrement in the 2014 quarter. Income generated from the sale of RINs increased to $37.6 million in the first quarter of 2015 from $17.6 million in the 2014 period as 54 million RINs were sold at an average price of $0.70 per RIN in the current period.

For earnings history and earnings-related data on Murphy USA (MUSA) click here.

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