Murphy USA Inc. announced its financial results for the three months and 12 months ended December 31, 2024. The company’s net income was $142.5 million in Q4 2024 compared to net income of $150.0 million in Q4 2023, according to an earnings report.
For the full year 2024, Murphy USA’s net income was $502.5 million, compared to a 2023 net income of $556.8 million.
“Murphy USA’s strong performance in 2024 demonstrates the resilience, durability and effectiveness of our advantaged business model,” said President and CEO Andrew Clyde. “Strength in our core areas, particularly our fuel and nicotine categories, continued to drive significant value, with retail fuel margins up 50 basis points year-over-year, despite lower volatility and a flatter price profile.”
“Total merchandise margin dollars increased nearly 4% year-over-year, despite challenges in our Northeast market especially for food retailers. We accelerated our new-store activity in 2024, completing 32 new-to-industry (NTI) stores and 47 raze-and-rebuilds, while increasing our growth trajectory in 2025 and 2026 as we focus on long-term growth opportunities,” said Clyde. “Looking ahead, we remain committed to organic growth in attractive markets, leveraging our strengths and capabilities to take share, and investing in innovation to deliver exceptional value to our customers.”
The company is looking to build up to 50 new stores and 30 raze-and-rebuilds, based on its 2025 guidance range.
Murphy USA reported total fuel contribution was 32.5 cpg for both the current and prior year quarter. For the year 2024, total fuel contribution was 30.5 cpg, compared to 31.4 cpg in 2023.
“Merchandise contribution dollars for Q4 2024 increased 5.6% to $208.8 million on average unit margins of 19.9%, compared to Q4 2023 contribution dollars of $197.7 million on unit margins of 19.4%. For the full year 2024, merchandise contribution dollars increased 3.8% to $833.7 million and average unit margins were 19.8% and 19.7% in 2024 and 2023, respectively,” reported Murphy.
Interested in how your peers performed in 2024? Andrew Baill, senior manager of customer insights and strategy at Wawa, will be speaking about “In-Store Performance Lessons From 2024” during the 2025 NACS State of the Industry Summit in Dallas April 8-10.