Murphy USA Q3 2026 10-Q: Net Income Rises to $176M

Murphy USA Inc. (NYSE:MUSA), the El Dorado, Arkansas-based operator of retail fuel and convenience store locations, filed its Form 10-Q for the quarterly period ended September 30, 2026 with the SEC on October 30, 2026.

Key Highlights

  • Net income of $176.0 million for the three months ended September 30, 2026, compared with $129.9 million in the same period of 2025, according to the filing.
  • Diluted earnings per share of $9.59 for Q3 2026, up from $6.76 in Q3 2025, based on weighted-average diluted shares of 18,360 thousand.
  • Total operating revenues of $6,889.7 million for the third quarter of 2026, including petroleum product sales of $5,599.1 million and merchandise sales of $1,155.0 million.
  • Nine-month net income of $521.4 million for the period January through September 2026, versus $328.7 million for the same period in 2025.
  • Operating cash flow of $903.1 million for the nine months ended September 30, 2026, compared with $568.4 million in the prior-year period.
  • Treasury stock repurchases of $309.0 million during the nine months ended September 30, 2026, with 28,667,251 shares held in treasury as of that date.
  • Total assets of $5,180.8 million as of September 30, 2026, up from $4,725.8 million at December 31, 2025.

Revenue, Earnings, and Cash Flow for Murphy USA Through September 2026

Murphy USA, which operates retail fuel stations largely adjacent to Walmart stores as well as its own Murphy Express locations, reported total operating revenues of $6,889.7 million for the three months ended September 30, 2026, according to the filing. Petroleum product sales accounted for $5,599.1 million of that figure, with merchandise sales contributing $1,155.0 million and other operating revenues adding $135.6 million. The company reported income from operations of $260.5 million for the quarter, after total operating expenses of $6,629.2 million. Interest expense for the three-month period was $28.4 million, and income tax expense was $57.6 million, yielding net income of $176.0 million.

For the nine months ended September 30, 2026, the filing disclosed total operating revenues of $18,515.1 million, driven primarily by petroleum product sales of $14,843.9 million. The nine-month income from operations reached $770.6 million, and net income for the period was $521.4 million. Depreciation and amortization for the nine months totaled $219.4 million. The filing also noted that excise taxes included in petroleum product sales and cost of goods sold amounted to $1,797.7 million for the nine-month period. Net cash provided by operating activities was $903.1 million for the nine months ended September 30, 2026.

On the balance sheet, the company reported cash and cash equivalents of $161.8 million as of September 30, 2026, compared with $28.9 million at December 31, 2025. Property, plant and equipment, net of accumulated depreciation and amortization of $2,365.1 million, stood at $3,118.8 million. Long-term debt including capitalized lease obligations was $2,167.4 million. Total stockholders' equity was $793.8 million at quarter-end, up from $623.5 million at December 31, 2025, reflecting higher retained earnings of $4,658.1 million against treasury stock of $4,319.2 million. The company paid dividends of $35.4 million during the nine-month period and spent $309.0 million repurchasing shares.

What Was Disclosed

Murphy USA filed its unaudited quarterly report on Form 10-Q for the period ended September 30, 2026, covering consolidated income statements, balance sheets, and cash flow statements, along with management discussion and related notes, as a large accelerated filer on the New York Stock Exchange under the symbol MUSA.