Murphy USA reported lower quarterly revenues and income compared to a year ago primarily due to lower petroleum prices and seasonal storms. The El Dorado-based convenience store chain reported financial results for the quarter ended March 31 on Wednesday (May 7).

For the quarter, Murphy USA posted revenues of $4.525 billion, down from $4.844 billion one year ago. Revenue missed the consensus estimate of $4.77 billion.

Net income dipped to $53.2 million for the first quarter of 2025 versus $66 million in the previous year. Diluted earnings per share was $2.63 compared to $3.12 one year ago. The earnings per share missed the consensus estimate of $3.87.

“Murphy USA’s Q1 results fell slightly short of internal expectations, but all in all, the business performed admirably despite a 2% comparison headwind from temporal factors including the timing of Leap Day and the Easter holiday along with the relative severity of storms,” said President and CEO Andrew Clyde.

“While retail fuel margins grew by two cents year-over-year, in-line with expectations given a flatter price environment in the first quarter of 2025, supply margins were lower than expected due to the oversupplied product market,” Clyde added. “Continued share gains in all nicotine and most center of store categories, including Packaged Beverages, Candy and General Merchandise, should help drive results through the rest of the year. As always, we remain focused on cost discipline, as evidenced by lower Q1 G&A expense, and our long-term capital allocation strategy built around new store growth, business improvements, and consistent share repurchase.”

Other key highlights of the quarter include:

• Total retail gallons decreased 1.9%, and volumes on a same store basis declined 4.2%, in Q1 2025 compared to Q1 2024.
• Merchandise contribution dollars for Q1 2025 increased 2.3% to $195.9 million on average unit margins of 19.6%, compared to Q1 2024 contribution dollars of $191.6 million on unit margins of 19.2%.
• During Q1 2025, the company repurchased approximately 321.1 thousand common shares for $151.2 million at an average price of $470.80 per share.

Murphy USA paid a quarterly cash dividend of $0.49 per share, or $1.96 per share on an annualized basis, on March 5, 2025, a 2.1% increase from December 2024, for a total cash payment of $9.8 million. On May 1, 2025, the company announced a quarterly cash dividend of $0.50 per share, or $2 per share on an annualized basis, reflecting a 2% increase from the prior quarter. The dividend is payable on June 2, 2025, to stockholders of record as of May 12, 2025.

The company, which employs approximately 17,500, has more than 1,750 store locations in 27 states.

Murphy USA (NYSE: MUSA) closed trading Wednesday at $506.24 per share. The company’s share price has hovered between a high of $561.08 and a low of $404.33 over the past 52 weeks.