Murphy USA (NYSE: MUSA) reported Q3 EPS of $1.38, $0.13 worse than the analyst estimate of $1.51. Revenue for the quarter came in at $3.79 billion versus the consensus estimate of $3.6 billion.

• Net income was $45.0 million, or $1.38 per diluted share in Q3 2018 compared to net income of $67.9 million, or $1.90 per diluted share, in Q3 2017
• Total fuel contribution (retail fuel margin plus product supply and wholesale ("PS&W") results including RINs) for Q3 2018 was 16.2 cpg compared to 20.5 cpg in Q3 2017
• Total retail gallons increased 3.5% to 1.1 billion gallons for the network during Q3 2018 and volumes on a same store sales ("SSS") basis improved 1.0% versus prior year quarter
• Merchandise contribution dollars grew 7.0% during the quarter to $104.5 million on average unit margins of 16.8%, a new quarterly record, versus 16.1% average unit margins in the prior year quarter
• Seven new stores opened and three raze-and-rebuild sites re-opened in the third quarter and construction is underway at 27 locations, including 15 raze-and-rebuild sites
• Effective income tax rate of 21.1% in Q3 2018, a 16.4% lower effective rate than Q3 2017 due to Federal tax reform favorably impacting 2018

"On the 5th anniversary of Murphy USA becoming a stand-alone public company, I couldn't be more impressed with how the business and our team have evolved over time, delivering and sustaining superior financial results through investments in organic growth, coupled with cost discipline, innovation and a commitment to operational excellence," said President and CEO Andrew Clyde. "Third quarter 2018 results were supported by both higher gallons and continued strong performance from our merchandising business versus prior year activity. While the fuels environment was dramatically different versus the year-ago period, the Company continued to showcase the benefits of improvement initiatives, as our fuel break-even requirement shrunk by 50 basis points year over year to just over a half penny per gallon, down from over 3 cents per gallon at spin." Clyde concluded, "While continuing to strengthen our competitive positioning, we remain committed to long-term shareholders through our disciplined, return-driven capital allocation strategy."

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