Filing Flows › Murphy Oil (MUR) › Q3 2026 › vs Q2 2026
Murphy Oil (MUR) Q3 2026 vs Q2 2026 (quarter over quarter)
Murphy Oil's revenue fell $73.3M (-8%) from $928M in Q2 2026 to $855M in Q3 2026. The biggest changes: Net crude oil and condensate revenue −$101M (-12%); Net natural gas revenue +$22.0M (+31%); Other revenues +$3.8M (+194%). Operating margin 30.0% against 38.2% (-8.2 pts).
Murphy Oil, Q3 2026: revenue $855M (+17% year over year), operating margin 30.0%, net earnings $171M, operating cash flow $541M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 30.0% | 38.2% | -8.2 pts |
| Net margin | 20.0% | 25.0% | -5.0 pts |
| Free cash flow margin | 62.6% | 70.6% | -7.9 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Net crude oil and condensate revenue | $731M | $832M | −$101M | -12% |
| Net natural gas revenue | $92.3M | $70.3M | $22.0M | +31% |
| Net natural gas liquids revenue | $25.9M | $23.8M | $2.0M | +8% |
| Other revenues | $5.8M | $2.0M | $3.8M | +194% |
| Revenue | $855M | $928M | −$73.3M | -8% |
| Operating profit | $256M | $355M | −$98.2M | -28% |
| Costs & expenses | $598M | $574M | $24.9M | +4% |
| Pre-tax earnings | $235M | $341M | −$106M | -31% |
| Other expense, net | $21.3M | $13.7M | $7.7M | +56% |
| SG&A | $40.5M | $38.7M | $1.9M | +5% |
| Other operating costs | $558M | $535M | $23.0M | +4% |
| Net earnings | $171M | $232M | −$61.1M | -26% |
| Minority interests | $24.4M | $31.4M | −$6.9M | -22% |
| Income tax | $39.4M | $77.0M | −$37.7M | -49% |
| Depreciation & amortization | $271M | $262M | $9.3M | +4% |
| Share-based compensation | $13.8M | $8.9M | $4.9M | +56% |
| Working capital & other | $84.2M | $153M | −$68.6M | -45% |
| Operating cash flow | $541M | $656M | −$115M | -18% |
| Free cash flow (OCF − capex) | $535M | $655M | −$120M | -18% |
| Capital expenditures | $5.1M | $832K | $4.3M | +517% |
Questions
How much did Murphy Oil's revenue grow quarter over quarter in Q3 2026?
Murphy Oil's revenue fell $73.3M (-8%) from $928M in Q2 2026 to $855M in Q3 2026.
What drove Murphy Oil's revenue change in Q3 2026?
Net crude oil and condensate revenue −$101M (-12%); Net natural gas revenue +$22.0M (+31%); Other revenues +$3.8M (+194%).