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Murphy USA profit misses consensus by 29.6% in Q4

Murphy USA Inc. said its normalized net income for the fourth quarter came to 67 cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.

EPS fell 65.1% year over year from $1.92.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $28.2 million, a decline of 68.2% from $88.6 million in the year-earlier period.

The normalized profit margin dropped to 1.2% from 2.9% in the year-earlier period.

Total revenue declined 20.8% on an annual basis to $2.42 billion from $3.05 billion, and total operating expenses declined 18.8% on an annual basis to $2.37 billion from $2.91 billion.

Reported net income fell 69.1% year over year to $29.2 million, or 69 cents per share, from $94.5 million, or $2.05 per share.

For the year, the company's normalized net income totaled $3.18 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.61.

EPS declined 30.3% from $4.57 in the prior year.

Normalized net income was $139.3 million, a fall of 34.3% from $212.0 million in the prior year.

Full-year total revenue fell 28.7% from the prior-year period to $10.73 billion from $15.06 billion, and total operating expenses fell 28.7% on an annual basis to $10.48 billion from $14.69 billion.

The company said reported net income decreased 38.4% on an annual basis to $137.5 million, or $3.14 per share, in the full year, from $223.3 million, or $4.81 per share.