Murphy USA Inc. announced financial results for the three months ended March 31, 2025. The retailer reported its net income was $53.2 million in Q1 2025 compared to $66.0 million in 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%, the retailer said.

“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 2 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. 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.”

Total fuel contribution for Q1 2025 was 25.4 cpg, compared to 24.8 cpg in Q1 2024. Total retail gallons decreased 1.9%, and volumes on a same store sales (“SSS”) basis declined 4.2% in Q1 2025 compared to Q1 2024.

In February, NACS Daily reported that for the full year 2024, Murphy USA’s net income was $502.5 million, compared to a 2023 net income of $556.8 million. The company is also looking to build up to 50 new stores and begin 30 raze-and-rebuilds.