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Murphy USA Inc. (NYSE: MUSA) is a leading convenience retailer dedicated to providing high-quality, low-priced fuels and exceptional service to its customers across the United States. Founded in December 1996 in Chattanooga, Tennessee, Murphy USA has grown exponentially and now operates over 1,270 stores in 23 states, employing more than 9,000 people. Headquartered in El Dorado, Arkansas, the company's stores serve nearly 2 million customers every day, underscoring its commitment to convenience and reliability.
Murphy USA's business model focuses on being a low-cost, high-volume fuel retailer. The majority of its stores are strategically located adjacent to Walmart stores, which allows the company to offer competitive prices and a discount program to their customers. The company prides itself on its best-in-class customer service and its ability to provide customers with convenient locations and quality fuels.
In addition to retail operations, Murphy USA owns and operates product supply and wholesale assets, including product distribution terminals and pipelines. This vertical integration helps maintain its competitive edge and ensures a steady supply of products to its stores.
The company continues to make strategic alliances, responsible investments, and smarter business practices to benefit its customers, investors, employees, and partners. Some of its recent projects include expanding its store network, adopting new technologies to improve operational efficiencies, and enhancing its customer loyalty programs. Murphy USA's forward-thinking approach ensures that it remains a key player in the fuel retailing industry.
With a strong financial foundation and innovative strategies, Murphy USA is well-positioned for continued growth and success. The company's mission to help people buy smarter and drive farther is at the core of its operations, reflecting its dedication to customer satisfaction and market leadership.
Stay updated with the latest news and developments from Murphy USA Inc. for detailed insights into the company's performance and future projects.
Murphy USA Inc. announced a dividend increase of 4.8%, with a quarterly cash dividend of $0.44 per share, or $1.76 per share annually. The dividend will be paid on June 3, 2024, to stockholders of record as of May 20, 2024.
Murphy USA Inc. reported its preliminary first-quarter 2024 results, showcasing a net income of $66.0 million, or $3.12 per diluted share, compared to $106.3 million, or $4.80 per diluted share, in Q1 2023. Retail gallons increased by 1.0%, while same-store sales volumes declined by 0.9%. Merchandise contribution dollars rose by 2.4% to $191.6 million. The Company repurchased 216.0 thousand common shares for $86.9 million and paid a quarterly dividend of $0.42 per share. Despite lower net income and Adjusted EBITDA, Murphy USA remains optimistic about its long-term value creation strategy.
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