Filing Flows › Murphy Oil (MUR) › Q1 2026
Murphy Oil (MUR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Murphy Oil (MUR) reported revenue of $734M for the first quarter 2026 (Q1 2026), +10% from a year earlier and +17% from the quarter before. Operating margin was 18.8%, net earnings $53.0M (7.2% of revenue).
Murphy Oil, Q1 2026: revenue $734M (+10% year over year), operating margin 18.8%, net earnings $53.0M, operating cash flow $321M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $734M | +17% | +10% |
| Operating profit | $138M | +133% | -4% |
| Net earnings | $53.0M | +345% | -27% |
| Operating cash flow | $321M | +29% | +7% |
| Free cash flow | $299M | +22% | -0.3% |
What changed
Revenue was $733.6M in Q1 2026, up 10% year over year and up 17% from the previous quarter. Net crude oil and condensate revenue was the largest line at 81% of revenue. Net crude oil and condensate revenue added $44.4M year over year (up 8%), 65% of the total change. Net natural gas liquids revenue declined 13%.
Operating profit was $138.3M, a 18.8% margin (down 2.8 points year over year). Operating profit fell $5.6M even though revenue rose $67.8M versus Q1 2025, so costs grew faster than sales. Total costs grew 14% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+14%). Net earnings were $53.0M, down 27% year over year. The effective tax rate was 42.1%.
Operating cash flow was $321.2M (up 7% year over year), 468% of net income including minority interests. Non-cash charges added back $254.4M of depreciation and amortization and $13.9M of share-based compensation. Capital expenditures of $22.7M left free cash flow of $298.5M.
Questions
What was Murphy Oil's revenue in the first quarter 2026?
Murphy Oil (MUR) reported revenue of $734M for the first quarter 2026 (Q1 2026), +10% from a year earlier and +17% from the quarter before.
Was Murphy Oil profitable in the first quarter 2026?
Operating profit was $138M (18.8% of revenue) and net earnings $53.0M.
Source: Murphy Oil 10-Q on SEC EDGAR.