EL DORADO, Ark. -- “Accelerating” merchandise profits propelled Murphy USA Inc. to report net income of $55.6 million in second-quarter 2017, compared with net income of $46.3 million in second-quarter 2016.
"Our strong results in the second quarter demonstrate the substantial earnings power of our low-cost, high-volume business model during periods of favorable retail fuel margins," said President and CEO Andrew Clyde. "Meanwhile, our merchandise profits are accelerating while per-store operating costs continue to decline, creating further upside operating leverage while reducing the company's earnings volatility during periods of challenging fuel margins."
Merchandise contribution dollars grew 5.5% during the quarter to $97.7 million, achieving a record unit margin of 16.1%.
“A lot of it is the new team kicking in, new leadership, new processes, around center of store,” Clyde said on the company’s earnings call.
Here are four ways Murphy USA's earnings improved ...