Murphy USA Inc. on Wednesday reported a profit of $93.6 million for the company’s first full quarter after its spinoff from Murphy Oil Corp.
Murphy USA also brought in about $4.2 billion in revenue in its 2013 fourth quarter, the El Dorado-based company said.
Murphy USA’s earnings per share for the quarter that ended Dec. 31 was $2,surpassing analyst estimates of 67 cents.
For the year, Murphy USA reported a net income of $235 million, or $5.02 per share, on revenue of $18.1 billion.
The company said its results from continuing operations were helped by improved results from its Hereford ethanol plant in Texas.
Murphy USA also saw a gain in its discontinued operations from the sale of its Hankinson plant in North Dakota for $52.5 million during the quarter.
“In completing the sale of the Hankinson ethanol plant for a premium price, we delivered on our commitment to rationalize non-core assets,” Andrew Clyde, the company’s chief executive officer and president, said in a statement.
Murphy USA, which was a subsidiary of Murphy Oil Corp., became a stand-alone company in August 2013 after Murphy Oil said it would separate its retail and marketing business from its exploration and production operations.
On Wednesday shares of Murphy USA fell 22 cents to close at $39.30 on the New York Stock Exchange.
The company released its earnings after markets closed.
Murphy USA will hold a conference call today at 10 a.m. to discuss its quarterly report.
The call can be accessed online at http://ir.corporate.murphyusa.com or by dialing (1-877) 291-1367 and using conference number 42952758.
Business, Pages 25 on 02/20/2014