Murphy USA Inc. (NYSE: MUSA) reported Q1 EPS of $2.92, $0.42 better than the analyst estimate of $2.50. Revenue for the quarter came in at $3.18 billion versus the consensus estimate of $3.16 billion.

Key Highlights:

• Net income was $89.3 million, or $2.92 per diluted share, in Q1 2020 compared to net income of $5.3 million, or $0.16 per diluted share, in Q1 2019
• Total fuel contribution (retail fuel margin plus product supply and wholesale ("PS&W") results including RINs) for Q1 2020 was 22.5 cpg compared to 12.3 cpg in Q1 2019
• Total retail gallons increased 1.2% in Q1 2020 compared to Q1 2019, while volumes on a same store sales ("SSS") basis decreased 1.0%
• Merchandise contribution dollars grew 10.3% to $107.5 million compared to the prior-year quarter, on average unit margins of 15.6% in the current quarter
• Common shares repurchased during the first quarter of 2020 were approximately 1.4 million for $140.6 million at an average price of $103.17 per share

"Despite exceptional first quarter performance, our business faces unprecedented risks and unknown challenges stemming from COVID-19 as the resiliency of our economy, our public health system, and our citizens are put to the test," said President and CEO Andrew Clyde. "In times of crisis, companies with robust business models will successfully navigate through the uncertainty and we believe Murphy USA is well-positioned to continue serving our customers, our employees, and our shareholders in this environment. While near-term demand remains uncertain, our customers continue to rely on us for their core fuel and merchandise needs and we remain committed to serving them. We have a strong balance sheet, a resilient and agile business model, and the levers to pull to preserve liquidity if needed. As such, the long-term view of our value creation potential remains unchanged, despite the transitory demand impacts we are seeing currently. Lastly, I want to thank all our store employees, who have risen to the occasion and stood on the front-line during this crisis, continuing to provide clean, safe, and friendly service to our customers, despite the difficult environment. I am proud to see the Murphy USA spirit is as resilient as our business."

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