Filing Flows › Murphy USA (MUSA) › Q1 2026
Murphy USA (MUSA) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Murphy USA (MUSA) reported revenue of $4.8B for the first quarter 2026 (Q1 2026), +6% from a year earlier and +2% from the quarter before. Operating margin was 4.3%, net earnings $136M (2.8% of revenue).
Murphy USA, Q1 2026: revenue $4.8B (+6% year over year), operating margin 4.3%, net earnings $136M, operating cash flow $320M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.8B | +2% | +6% |
| Operating profit | $205M | -2% | +133% |
| Net earnings | $136M | -4% | +156% |
| Operating cash flow | $320M | +30% | +149% |
| Free cash flow | $222M | +72% | +445% |
What changed
Revenue was $4.8B in Q1 2026, up 6% year over year and up 2% from the previous quarter. Petroleum product sales (at retail) was the largest line at 69% of revenue. Petroleum product sales (at retail) added $0.17B year over year (up 5%), 57% of the total change.
Operating profit was $0.21B, a 4.3% margin (up 2.3 points year over year). Of the extra revenue versus Q1 2025, 40% reached operating profit, above the 2% margin then. Total costs grew 4% against revenue growth of 6%. Net earnings were $0.14B, up 156% year over year. The effective tax rate was 22.6%.
Operating cash flow was $0.32B (up 149% year over year), 235% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items added $0.11B. Capital expenditures of $0.10B left free cash flow of $0.22B.
Questions
What was Murphy USA's revenue in the first quarter 2026?
Murphy USA (MUSA) reported revenue of $4.8B for the first quarter 2026 (Q1 2026), +6% from a year earlier and +2% from the quarter before.
Was Murphy USA profitable in the first quarter 2026?
Operating profit was $205M (4.3% of revenue) and net earnings $136M.
Source: Murphy USA 10-Q on SEC EDGAR.