Murphy USA (MUSA) Q2 2026: EPS Beats by 12%, Net Income Jumps 44%
As seen on the 24/7 Wall St. homepage on August 5, 2026.
Retail margins widened to 35.1 cents per gallon, lifting net income 43.6% to $209.1 million. Management guides full-year net income near $636 million, assuming second-half margins cool to 35 cents. The 11:00 AM ET call Thursday tests that assumption.
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Murphy USA posted Q2 2026 earnings per share of $11.27, clearing the $10.02 consensus estimate by roughly 12.5%. Revenue came in at $6.81 billion, also beating expectations by nearly 13%. The standout driver was fuel margins at the pump: retail margins widened to 35.1 cents per gallon, a level strong enough to push net income up 43.6% to $209.1 million for the quarter.
The EPS history adds useful context. Murphy missed estimates only once in the past eight quarters — Q1 2025, when it reported $2.63 against a $3.74 estimate — and has beaten convincingly in each period since. The Q2 2026 result of $11.27 is the highest reported EPS in that eight-quarter window, well above the prior high of $7.88 in Q4 2025.
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Management issued full-year net income guidance near $636 million, built on an assumption that retail fuel margins ease to approximately 35 cents per gallon in the second half. That is a modest step down from the 35.1-cent Q2 figure, so the guidance leaves little cushion if margins slip further. The earnings call at 11:00 AM ET on Thursday is where analysts will press on whether that assumption holds.
Mentioned: MUSA