Murphy USA Inc. (NYSE: MUSA) reported Q1 EPS of $0.16, $0.11 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $3.116 billion versus the consensus estimate of $3.13 billion.

• Net income was $5.3 million, or $0.16 per diluted share in Q1 2019 compared to net income of $39.3 million, or $1.16 per diluted share, in Q1 2018. Included in Q1 2018 net income was approximately $35.3 million (after tax) from settlement of damages incurred in connection with the 2010 Deepwater Horizon oil spill
• Total fuel contribution (retail fuel margin plus product supply and wholesale ("PS&W") results including RINs) for Q1 2019 was 12.3 cpg compared to 11.4 cpg in Q1 2018
• Total retail gallons increased 3.9% in Q1 2019 compared to Q1 2018 and volumes on a same store sales ("SSS") basis improved 1.8%
• Merchandise contribution dollars grew 6.6% to $97.5 million compared to the prior-year quarter, on average unit margins of 16.1%
• Common shares repurchased during the first quarter were approximately 177 thousand for $13.3 million at an average price of $74.86 per share

"2019 is off to a strong start as the business performed exceptionally well in the first quarter, despite sharply rising product prices, managing to showcase meaningful year-over-year adjusted EBITDA growth to $58.8 million," said President and CEO Andrew Clyde. "We continued to drive traffic to our stores, growing year-over-year same store volumes for the third straight quarter, which helped generate strong merchandise results in both the tobacco and non-tobacco categories. We are proud to announce the successful completion of the national launch of our loyalty program, Murphy Drive Rewards, which has generated widespread customer enthusiasm with more than 6.4 million participants to date and continues to grow. We are excited about the opportunity this platform provides to attract and retain loyal customers, which when coupled with other ongoing improvement initiatives, will help materially transform our business in the years ahead."

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