Every material Form 8-K Murphy USA has filed with the SEC since October 30, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Murphy USA reported third-quarter 2026 net income of $176.0 million, or $9.59 per diluted share, up from $129.9 million, or $6.76 per share, a year earlier. The increase was driven mainly by higher total fuel contribution, while merchandise contribution fell 2.8%. The company also declared a quarterly dividend of $0.72 per share, an 11% increase from the Q3 2026 dividend, payable December 1, 2026.
Q3 2026 net income was $176.0 million, or $9.59 per diluted share, versus $129.9 million, or $6.76 per share, in Q3 2025
Total fuel contribution rose 24.6% to $479.4 million, from $384.8 million, with fuel contribution of 37.0 cpg versus 30.7 cpg
Merchandise contribution fell 2.8% to $234.5 million, with unit margins of 20.3% versus 21.5%
Quarterly dividend increased to $0.72 per share, payable December 1, 2026, to holders of record as of November 4, 2026
Murphy USA's board declared a quarterly cash dividend of $0.72 per share, or $2.88 annualized, an 11% increase from the Q3 2026 dividend. The dividend is payable December 1, 2026, to stockholders of record as of November 4, 2026, and the increase returns more cash to shareholders.
Quarterly cash dividend of $0.72 per share, or $2.88 per share annualized
Dividend represents an 11% increase from the Q3 2026 dividend
Payable December 1, 2026, to holders of record as of November 4, 2026
Murphy USA appointed Anish K. Shah as Vice President & Controller effective September 1, 2026, and he will also serve as principal accounting officer. Donald R. Smith, Jr., the Chief Financial Officer and Treasurer, stops serving as principal accounting officer on the same date.
Anish K. Shah, age 53, was appointed by the Board on August 31, 2026, effective September 1, 2026.
Shah's offer letter sets an annual base salary of $360,000, a 50% target cash bonus and an 80% target long-term equity award, as a percentage of base salary.
Shah will receive a one-time $25,000 cash sign-on bonus and is eligible for a relocation benefit under Company policy.
Shah previously was an Assurance Partner at PricewaterhouseCoopers LLP and retired from PwC in 2026.
Murphy USA reported second-quarter 2026 net income of $209.1 million, or $11.27 per diluted share, up from $145.6 million, or $7.36 per share, a year earlier. Adjusted EBITDA rose to $377.3 million from $286.0 million, and total operating revenues increased to $6.81 billion from $5.01 billion. Management expects 2026 net income of about $636 million and Adjusted EBITDA of about $1.25 billion, assuming second-half fuel margins average 35 cents per gallon, compared with 37.9 cents in the first half.
Q2 2026 net income was $209.1 million ($11.27 diluted EPS), versus $145.6 million ($7.36) in Q2 2025.
Total fuel contribution rose to 40.6 cents per gallon from 32.0 cents; total merchandise contribution rose 4.0% to $227.4 million.
Full-year 2026 outlook: net income of about $636 million and Adjusted EBITDA of about $1.25 billion, based on a 35 cents per gallon second-half fuel margin assumption.
Several full-year metrics are now expected at the low end of guidance, including merchandise contribution, store operating expenses and SG&A; the tax rate is expected at the higher end, and capital expenditures at the high end.
Murphy USA reported first-quarter 2026 net income of $136.3 million, or $7.28 per diluted share, up from $53.2 million, or $2.63 per share, a year earlier. Adjusted EBITDA rose to $277.9 million from $157.4 million, with higher fuel contribution and merchandise margins offsetting higher taxes, store operating costs, depreciation and interest expense.
Total fuel contribution was 35.0 cents per gallon, compared with 25.4 cents per gallon in Q1 2025.
Merchandise contribution rose 7.3% to $210.2 million, with unit margin of 20.0% versus 19.6%.
Same store fuel volumes declined 0.8%, and same store merchandise sales rose 2.8%.
The company repurchased about 169.0 thousand shares for $70.9 million and paid a $0.63 per share dividend on March 5, 2026.
Murphy USA's board appointed Donald R. Smith, Jr., who had been interim Chief Financial Officer since October 2025, as Senior Vice President, Chief Financial Officer and Treasurer, effective April 3, 2026. The filing raises his base salary to $550,000 and increases his target bonus and equity award levels, which adds to the company's compensation costs for its finance leadership.
Donald R. Smith, Jr., age 54, appointed CFO and Treasurer effective April 3, 2026; he had been interim CFO since October 2025
Annual base salary increased to $550,000; target annual cash bonus raised to 70% of base salary
Target long-term equity incentive raised to 125% of base salary; one-time cash bonus of $45,000 and 2026 equity top-up with targeted grant value of $260,000
Murphy USA reported fourth-quarter 2025 net income of $141.9 million, nearly flat from $142.5 million a year earlier, while diluted earnings per share rose to $7.53 from $6.96. For full-year 2025, net income fell to $470.6 million from $502.5 million, with diluted EPS of $24.10 compared with $24.11, and the company issued 2026 guidance calling for higher merchandise contribution and SG&A costs.
Q4 2025 total operating revenues were $4,743.6 million, up from $4,710.4 million; full-year revenues were $19,384.0 million, down from $20,244.3 million.
Q4 2025 total fuel contribution was 34.3 cents per gallon versus 32.5 cents in Q4 2024; full-year merchandise contribution rose to $869.0 million.
The company repurchased $652.0 million of common stock in 2025 and paid a quarterly dividend of $0.63 per share on December 1, 2025.
2026 guidance projects merchandise contribution of $890 million to $900 million and SG&A of $240 million to $250 million.
Murphy USA's board committee approved a pay package for Mindy K. West, promoted to chief executive, effective January 1, 2026. The committee also approved one-time retention awards for four executives during the CEO transition. The filing discloses pay terms only and no financial results, but it sets new leadership compensation costs for shareholders to track.
West's package includes a $1,000,000 base salary, a target annual cash incentive of 150% of base salary, and a 2026 long-term award with a targeted grant value of $5,000,000.
Retention grants approved January 12, 2026: $1,000,000 target value for Chris A. Click and $500,000 each for Renee M. Bacon, Robert J. Chumley and Donald R. Smith, Jr.
The retention awards are time-based restricted stock units that cliff vest on the third anniversary of the grant date, expected to be February 11, 2026.
Murphy USA said CEO R. Andrew Clyde will retire as CEO and from the Board effective December 31, 2025, with President and COO Mindy K. West becoming CEO and a Board member on January 1, 2026. The filing also details a severance protection agreement for West and a transition agreement for Clyde, which keeps him employed through February 28, 2026 and as an advisor through February 28, 2027.
R. Andrew Clyde retires as CEO and director effective December 31, 2025, as previously announced on October 29, 2025.
Mindy K. West becomes CEO and a Board member effective January 1, 2026.
West's severance protection agreement, dated December 11, 2025, pays two times salary plus target bonus on a termination without cause or for good reason within 24 months after a change in control.
Clyde's transition agreement runs through February 28, 2026 as an employee, then as an advisor through February 28, 2027.
On December 10, 2025, Murphy USA Inc. (NYSE: MUSA) appointed Michael G. Kulp, founder and CEO of KBP Brands, as an independent director. He will sit on the Audit Committee and the Executive Compensation Committee, and his director pay is governed by the company's non-employee director compensation program. The change adds a board member with multi-unit restaurant operating experience, and the filing contains no financial results.
Michael G. Kulp is founder and CEO of KBP Brands, which operates more than 1,200 KFC, Taco Bell, Arby's and Sonic restaurants across 32 states.
Kulp was appointed to the Audit Committee and the Executive Compensation Committee.
He serves as a Class I Director, with a term expiring at the 2026 annual meeting of stockholders.
Murphy USA reported third-quarter 2025 net income of $129.9 million, down from $149.2 million a year earlier, as lower fuel margins and a $12.6 million restructuring charge outweighed higher merchandise contribution. The company also named Mindy K. West as its next President and CEO effective January 1, 2026, succeeding Andrew Clyde, and approved a new $2.0 billion share repurchase authorization and a 19% dividend increase. For shareholders, the filing shows lower quarterly profit alongside larger planned capital returns and a 2025 outlook with some ranges raised and others, including fuel volume, lowered.
Q3 2025 net income was $129.9 million, or $6.76 per diluted share, versus $149.2 million, or $7.20 per diluted share, in Q3 2024; the quarter included a $12.6 million restructuring charge.
Mindy K. West becomes President and CEO effective January 1, 2026, succeeding R. Andrew Clyde, who retires from the CEO role and the Board on December 31, 2025.
The Board approved a new share repurchase authorization of up to $2.0 billion expiring December 31, 2030; $337 million remains under the current $1.5 billion program.
Quarterly dividend of $0.63 per share, a 19% increase from the prior quarter, is payable December 1, 2025 to holders of record as of November 10, 2025.
Murphy USA said Executive Vice President and Chief Financial Officer Galagher Jeff left the company effective October 14, 2025, and that the departure was not the result of any disagreement with the company. The board appointed Donald R. Smith Jr., the company's Vice President, Chief Accounting Officer and Treasurer, as interim Chief Financial Officer effective the same day. The filing gives no permanent successor timeline.
Galagher Jeff, EVP and Chief Financial Officer, departed effective October 14, 2025
The filing states the departure was not due to any disagreement with the company on operations or financial performance or condition
Donald R. Smith Jr., age 53, named interim CFO effective October 14, 2025, while keeping his Chief Accounting Officer and Treasurer roles
Smith has been with Murphy USA since its 2013 spin-off from Murphy Oil Corporation
Murphy USA reported second-quarter 2025 net income of $145.6 million, or $7.36 per diluted share, up from $144.8 million, or $6.92 per diluted share, a year earlier. Adjusted EBITDA rose to $286.0 million from $278.6 million, but same store fuel volumes fell 3.2%, and six-month net income declined to $198.8 million from $210.8 million. The results are in Exhibit 99.1 of this 8-K, and the company will hold a conference call on July 31, 2025.
Q2 2025 net income was $145.6 million, or $7.36 per diluted share, versus $144.8 million, or $6.92, in Q2 2024.
Q2 2025 Adjusted EBITDA was $286.0 million, compared with $278.6 million in Q2 2024.
Six-month 2025 net income was $198.8 million, or $9.95 per diluted share, versus $210.8 million, or $10.02, in the first half of 2024.
Same store retail fuel volume declined 3.2% in Q2 2025, and the company repurchased shares for $211.9 million during the quarter.
Murphy USA reported first-quarter 2025 net income of $53.2 million, or $2.63 per diluted share, down from $66.0 million, or $3.12 per diluted share, a year earlier. Total operating revenues fell to $4,525.4 million from $4,843.7 million, and adjusted EBITDA declined to $157.4 million from $164.3 million. Management said results fell slightly short of internal expectations, citing lower supply margins, while the company repurchased $151.2 million of stock during the quarter.
Net income was $53.2 million, or $2.63 per diluted share, versus $66.0 million, or $3.12 per diluted share, in Q1 2024
Total operating revenues were $4,525.4 million versus $4,843.7 million; adjusted EBITDA was $157.4 million versus $164.3 million
Retail fuel margin rose to 23.7 cpg from 21.7 cpg, while same store sales retail fuel volume declined 4.2%
The company repurchased about 321.1 thousand shares for $151.2 million and announced a quarterly dividend of $0.50 per share, payable June 2, 2025
Murphy USA's board declared a quarterly cash dividend of $0.50 per share, a 2% increase from the prior quarter, payable June 2, 2025, to holders of record as of May 12, 2025. The company also appointed David C. Haley, former President Emeritus of HBK Capital Management, as an independent director, which adds a board member with capital management and corporate leadership experience.
Quarterly dividend of $0.50 per share, or $2.00 annualized, a 2% increase from the prior quarter
Dividend payable June 2, 2025, to stockholders of record as of May 12, 2025
David C. Haley appointed to the Board, serving on the Nominating and Governance and Audit Committees as a Class II Director with a term expiring at the 2027 annual meeting
Haley is President Emeritus of HBK Capital Management and previously led its High Yield and Distressed Investing team
Murphy USA reported fourth-quarter 2024 net income of $142.5 million, or $6.96 per diluted share, down from $150.0 million, or $7.00, a year earlier. For full-year 2024, net income fell to $502.5 million, or $24.11 per diluted share, from $556.8 million, or $25.49. The company also issued 2025 guidance, which shareholders can compare with the lower 2024 results.
Q4 2024 net income was $142.5 million, or $6.96 per diluted share, versus $150.0 million, or $7.00, in Q4 2023.
Full-year 2024 net income was $502.5 million, or $24.11 per diluted share, versus $556.8 million, or $25.49, in 2023.
Q4 2024 total operating revenues were $4,710.4 million, down from $5,068.9 million; Adjusted EBITDA was $278.3 million, up from $275.2 million.
2025 guidance includes merchandise contribution of $855 million to $875 million and capital expenditures of $450 million to $500 million.
Murphy USA reported third-quarter 2024 net income of $149.2 million, or $7.20 per diluted share, down from $167.7 million, or $7.69, a year earlier, as lower total fuel contribution and higher store operating expenses outweighed higher retail fuel volumes and merchandise contribution. The company raised its full-year capital expenditure range and lowered its SG&A expense range, and it declared a higher quarterly dividend, which shareholders will receive on December 2, 2024.
Q3 2024 net income was $149.2 million, or $7.20 per diluted share, versus $167.7 million, or $7.69, in Q3 2023.
Adjusted EBITDA was $285.6 million, down from $306.0 million; total fuel contribution fell to 32.6 cpg from 34.5 cpg.
Full-year capital expenditure guidance was raised to $500 million-$525 million from $400 million-$450 million; SG&A guidance was cut to $240 million-$250 million from $255 million-$265 million.
Quarterly dividend increased to $0.48 per share from $0.45, payable December 2, 2024, to holders of record as of November 4, 2024.
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