Murphy USA Inc. Announces Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings and Production Guidance for the Year 2018
January 01, 2018 at 03:03 am IST
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Murphy USA Inc. announced unaudited consolidated earnings and production results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total operating revenues of $3,379.524 million against $3,055,791 million a year ago. Income from operations was $64.612 million against $76.538 million a year ago. Income before income taxes was $51.209 million against $66.832 million a year ago. Net income was $124.840 million or $3.58 per diluted share against $43.817 million or $1.14 per diluted share a year ago. Net cash provided by operating activities was $117.259 million against $127.612 million a year ago. Property additions were $56.725 million against $63.233 million a year ago. EBITDA was $96.975 million against $102.515 million a year ago. Adjusted EBITDA was $99.038 million against $103.243 million a year ago.
Total fuel contribution (retail fuel margin plus product supply and wholesale ('PS&W') results including RINs) for fourth quarter of 2017 was 16.5 cpg compared to 15.4 cpg a year ago.
For the year, the company reported total operating revenues of $12,826.553 million against $11,594.553 million a year ago. Income from operations was $283.193 million against $388.077 million a year ago. Income before income taxes was $240.022 million against $352.031 million a year ago. Net income was $245.264 million or $6.78 per diluted share against $221.492 million or $5.59 per diluted share a year ago. Net cash provided by operating activities was $283.625 million against $337.440 million a year ago. Property additions were $258.257 million against $262.144 million a year ago. EBITDA was $402.339 million against $489.767 million a year ago. Adjusted EBITDA was $405.894 million against $400.125 million a year ago. Free cash flow was $75.296 million against $28.500 million a year ago.
For the full year, total fuel contribution was 16.4 cpg compared to 15.4 cpg in 2016.
The company expected net income to be between $155 million to $195 million, adjusted EBITDA to be between $390 million to $440 million, capital expenditures to be between $225 million to $275 million and effective tax rate to be between 24% to 26%.
The company expected total fuel contribution to be 14 cpg to 16.5 cpg.
Murphy USA Inc. is a retailer of gasoline and convenience merchandise with more than 1,700 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The Company has one operating segment, which is Marketing. The Marketing segment includes its retail marketing stores and product supply and wholesale assets. The majority of its existing and new-to-industry (NTI) retail gasoline stores operate under the brand names of Murphy USA and Murphy Express. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The Company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. The Company has a network of retail gasoline and convenience stores in approximately 27 states. In addition, it markets fuel to unbranded wholesale customers through a mixture of Company owned and third-party product distribution terminals and pipeline positions.
Murphy USA Inc. Announces Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings and Production Guidance for the Year 2018
MURPHY USA INC. 
