Murphy USA Inc. said its normalized net income for the first quarter amounted to 54 cents per share, compared with the S&P Capital IQ consensus estimate of 50 cents per share.
EPS rose year over year from 19 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $25.0 million, a gain from $8.9 million in the year-earlier period.
The normalized profit margin increased to 1.0% from 0.2% in the year-earlier period.
Total revenue fell 32.8% on an annual basis to $2.50 billion from $3.72 billion, and total operating expenses declined 33.5% year over year to $2.46 billion from $3.70 billion.
Reported net income rose from the prior-year period to $23.0 million, or 50 cents per share, from $8.9 million, or 19 cents per share.
