MUSA - Murphy USA stock trades lower after earnings fall short

Murphy USA ( NYSE: MUSA ) fell in postmarket trading on Wednesday after missing estimates with its Q4 earnings report.

Total fuel contribution for the quarter was 30.6 cpg vs. 27.5 cpg a year ago. Total retail gallons increased 7.8% to 1.2B gallons. Merchandise contribution dollars increased 4.2% to $189M on average unit margins of 19.1%. Food and beverage contribution margin decreased 6.1% during the quarter due to higher cost of goods sold.

Total store and other operating expenses were $247.1M vs. $220.2M a year ago. Adjusted EBITDA was $229.8M vs. $216.2M a year ago.

CEO update: "Looking out over the next decade, we continue to see an equally attractive opportunity set of growth and capability building investments to further improve the business. With an attractive free cash flow profile, a healthy balance sheet, and strong momentum heading into 2023, we expect to continue our track record of value creation for long-term investors."

Looking ahead, Murphy USA ( MUSA ) expects to open up to 45 new stores in 2023 and see up to 30 raze-and-rebuilds.

Shares of Murphy USA fell 5.00% in postmarket trading to $265.09 vs the 52-week trading range of $164.30 to $323.00.

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