Murphy USA Inc. said its second-quarter normalized net income was 58 cents per share, compared with the S&P Capital IQ consensus estimate of 79 cents per share.
EPS decreased 53.3% year over year from $1.24.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $25.7 million, a decrease of 55.4% from $57.5 million in the year-earlier period.
The normalized profit margin fell to 0.8% from 1.4% in the year-earlier period.
Total revenue fell 27.1% on an annual basis to $3.03 billion from $4.16 billion, and total operating expenses decreased 26.6% on an annual basis to $2.98 billion from $4.06 billion.
Reported net income fell 58.5% on an annual basis to $26.2 million, or 59 cents per share, from $63.2 million, or $1.36 per share.