Murphy USA (MUSA) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended December 2023, Murphy USA (MUSA) reported revenue of $5.07 billion, down 5.5% over the same period last year. EPS came in at $7.00, compared to $5.21 in the year-ago quarter.

The reported revenue represents a surprise of -5.43% over the Zacks Consensus Estimate of $5.36 billion. With the consensus EPS estimate being $6.31, the EPS surprise was +10.94%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Murphy USA performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Retail fuel margin (cpg): 31.1 cents versus 28.23 cents estimated by three analysts on average.
• PS&W including RINs contribution (cpg): 1.4 cents versus the three-analyst average estimate of 4.39 cents.
• Retail fuel volume - chain (Million gal): 1,208.4 Mgal versus the three-analyst average estimate of 1,227.27 Mgal.
• Retail fuel volume - per store (K gal APSM): 242.8 Kgal versus the two-analyst average estimate of 247.25 Kgal.
• Retail fuel volume - per store (K gal SSS): 237.9 Kgal compared to the 241.84 Kgal average estimate based on two analysts.
• Store count at end of period: 1,733 versus 1,734 estimated by two analysts on average.
• Total fuel contribution (including retail, PS&W and RINs) (cpg): 32.5 cents versus the two-analyst average estimate of 31.15 cents.
• Fuel Contribution - Total retail fuel contribution: $376 million versus the two-analyst average estimate of $352.59 million.
• Merchandise unit margin (%): 19.4% versus the two-analyst average estimate of 19.6%.
• Operating Revenues- Petroleum product sales: $4 billion versus the three-analyst average estimate of $4.48 billion. The reported number represents a year-over-year change of -7.2%.
• Operating Revenues- Merchandise Sales: $1.02 billion compared to the $1.02 billion average estimate based on three analysts. The reported number represents a change of +2.9% year over year.
• Operating Revenues- Other operating revenues: $49.60 million compared to the $52.43 million average estimate based on three analysts. The reported number represents a change of -22.6% year over year.

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