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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 announced its acquisition of QuickChek Corporation for $645 million in cash, netting $625 million after tax benefits. This strategic move aims to enhance Murphy USA's food and beverage capabilities, capitalizing on QuickChek's strong brand and proven growth in convenience markets. The deal is expected to yield annual synergies of $28 million by year three and aims for earnings accretion by 2022. The acquisition will be financed through a combination of cash, credit facilities, and new debt, with closing anticipated in Q1 2021.
Murphy USA announced a successful fundraising campaign, exceeding its initial goal by donating $1.55 million to the Boys & Girls Clubs of America for 2020. The 'Great Futures Fueled Here' campaign, launched amid the pandemic, encouraged customers to contribute through small donations at checkout. This effort highlighted the community's responsiveness to pressing needs during the crisis. The campaign concluded in September, and funds will support local Clubs, serving over 4.6 million children annually.
Murphy USA (NYSE: MUSA) will participate in the Stephens Annual Investment Conference on November 18, 2020, at 3:00 PM ET. The event will be held virtually, and investors can access the webcast through Murphy USA's Investor Relations page. The company operates nearly 1,500 retail gasoline stations primarily in the Southwest, Southeast, and Midwest, serving about 1.7 million customers daily. Murphy USA ranks 262 in the Fortune 500 and focuses on proximity to Walmart stores, enhancing convenience for its customers.
Murphy USA (NYSE: MUSA) has updated its capital allocation strategy, approving two key programs to enhance shareholder value. The company aims for $500 million in Adjusted EBITDA for 2021 and is nearing the completion of a $400 million share repurchase program, with $7 million remaining. A new $500 million repurchase plan will commence upon completion of the current one. Additionally, a quarterly dividend of $0.25 per share will start on December 1, 2020. Murphy USA also plans to open 50 New-To-Industry locations annually beginning in 2021 while exploring M&A for strategic growth.
Murphy USA reported Q3 2020 net income of $66.9 million or $2.27 per diluted share, down from $69.2 million or $2.18 in Q3 2019. Total fuel contribution was 22.3 cpg, up from 20.1 cpg a year earlier, despite an 11.9% drop in retail gallons sold. Merchandise contribution rose 6.2% to $118.1 million. SG&A expenses increased due to a $10 million charitable donation. The company opened 4 new stores during the quarter, with plans for more than 1,500 stores by year-end. Cash reserves stood at $317.5 million.
Murphy USA (NYSE: MUSA) will announce its preliminary third quarter 2020 earnings results on October 28, 2020, post-market. A conference call is scheduled for October 29, 2020, at 10:00 a.m. CT, where interested participants can dial 1-833-968-2218, using conference ID 4728178. The call will also be available via webcast on Murphy USA’s Investor Relations website. With nearly 1,500 retail sites across 25 states, Murphy USA serves around 1.7 million customers daily and ranks 262 on the Fortune 500 list.
Murphy USA will present virtually at the Goldman Sachs 27th Annual Global Retailing Conference on September 9, 2020, at 2:30 PM ET. The event can be accessed via their Investor Relations website. Murphy USA operates nearly 1,500 retail sites primarily in the Southwest, Southeast, and Midwest of the U.S., serving around 1.7 million customers daily. The company is ranked 262 in Fortune 500, with a workforce of nearly 10,000 employees. Most sites are near Walmart stores, and they also operate standalone Murphy Express locations.
Murphy USA (NYSE: MUSA) has announced that its employees and customers have raised over $1 million for the Boys & Girls Clubs of America during 2020, significantly surpassing their original goal of $500,000. This fundraising effort is part of the 'Great Futures Fueled Here' campaign, which started on April 1 and involves nearly 1,500 stores across 25 states. Contributions can be made at checkout in increments of $1, $2, or $5 or by rounding up purchases.
Murphy USA Inc. (NYSE: MUSA) reported strong Q2 2020 financial results with a net income of $168.9 million ($5.73 per share) compared to $32.7 million ($1.01 per share) in Q2 2019. The total fuel contribution surged to 38.3 cpg, up from 14.7 cpg year-over-year, despite retail gallons sold decreasing by 25.7%. Merchandise contribution rose 12.2% to $118.4 million. The company opened 3 new stores and divested 9 Minnesota locations. Murphy USA maintained a robust cash position of $403.6 million, enabling strategic capital investments in future growth.
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