Murphy USA (MUSA) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Murphy USA (MUSA) reported $6.89 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 34.8%. EPS of $9.59 for the same period compares to $7.25 a year ago.

The reported revenue represents a surprise of +12.78% over the Zacks Consensus Estimate of $6.11 billion. With the consensus EPS estimate being $8.09, the EPS surprise was +18.54%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Murphy USA performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Total fuel contribution (cpg): 37 cents versus 33.17 cents estimated by three analysts on average.

• Fuel supply including RINs contribution (cpg): 9.6 cents compared to the 3.26 cents average estimate based on three analysts.

• Retail fuel margin (cpg): 27.4 cents versus 29.91 cents estimated by three analysts on average.

• Retail fuel volume - chain (Million gal): 1,295.70 Mgal versus 1,275.70 Mgal estimated by three analysts on average.

• Retail fuel volume - per store (K gal SSS): 243.70 Kgal versus 240.49 Kgal estimated by two analysts on average.

• Store count at end of period: 1,808 versus 1,812 estimated by two analysts on average.

• Fuel Contribution - Total retail fuel contribution: $355 million versus $385.82 million estimated by two analysts on average.

• Merchandise unit margin (%): 20.3% compared to the 20.1% average estimate based on two analysts.

• Total fuel contribution: $479.4 million versus $417.07 million estimated by two analysts on average.

• Operating Revenues- Petroleum product sales: $5.6 billion versus $4.82 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +42.7% change.

• Operating Revenues- Other operating revenues: $135.6 million versus $84.46 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +115.2% change.

• Operating Revenues- Merchandise Sales: $1.16 billion compared to the $1.15 billion average estimate based on three analysts. The reported number represents a change of +2.9% year over year.