Q2 2024 Murphy USA Inc Earnings Call Transcript
Key Points
- Murphy USA Inc (MUSA) achieved the highest Q2 retail fuel margin contribution dollars in company history.
- Same-store sales and margin growth were strong, particularly in the tobacco category.
- Murphy USA Inc (MUSA) continues to invest in new store growth, with 22 new stores under construction and a target of 30 to 35 new stores for the year.
- The company has a robust share repurchase program, buying back 238,000 shares in Q2 and remaining committed to ongoing repurchases.
- Murphy USA Inc (MUSA) has a strong free cash flow, enabling investments in technology, store maintenance, and share repurchases.
- Year-to-date merchandise results are falling short of high expectations due to a slow start in Q1 and softness in discretionary categories.
- Inflation remains impactful, particularly in the northeast markets, affecting consumer behavior and sales.
- QuickChek markets experienced a 2% year-over-year decline in sales comps, with continued softness into July.
- Operating expenses per store increased by 6.2% year-over-year, driven by larger stores, wage investments, and higher maintenance costs.
- The company faces challenges in maintaining transaction volumes and consumer demand in the face of persistent inflation and competitive pressures.
Thank you for standing by. My name is Bailey, and I will be your conference operator today. At this time, I would like to welcome everyone to the Murphy USA second-quarter 2024 earnings conference call. (Operator Instructions)
I would now like to turn the call over to Christian Pikul, Vice President of Investor Relations. You may begin.
Thank you, Bailey. Good morning, everybody, and thank you all for joining us today. With me are Andrew Clyde, Chief Executive Officer; Mindy West, Chief Operating Officer; Galagher Jeff, Chief Financial Officer; and Donnie Smith, Chief Accounting Officer. After some opening comments from Andrew, Galagher will provide an overview of the financial results, and then we will open up the call to Q&A.
Please keep in mind that some of the comments made during this call, including the Q&A portion, will be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. As such, no
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
