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    Murphy USA (MUSA) Is Down 6.7% After EPS Jump and Major Buyback Completion - What's Changed

    Simply Wall St·08/11/2026 11:25:37
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    • In the second quarter of 2026, Murphy USA Inc. reported revenue of US$6,806.1 million and net income of US$209.1 million, with basic earnings per share from continuing operations of US$11.34, all higher than the same period a year earlier.
    • Over the six months to June 30, 2026, Murphy USA’s stronger earnings coincided with completing a large share repurchase program that retired 15.67% of its shares under a buyback launched in 2023, alongside no purchases yet under a newer 2025 authorization.
    • We’ll now examine how Murphy USA’s sharp earnings per share growth and substantial completed buyback program shape its existing investment narrative.

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    Murphy USA Investment Narrative Recap

    To stay invested in Murphy USA, you need to believe its high-volume, low-cost fuel model and convenience footprint can keep generating solid cash flows despite fuel demand headwinds and EV risk. The latest results show stronger earnings and EPS, but they do not fundamentally change the near term tension between fuel volume softness and the need for merchandise growth, nor do they remove execution risk around new store openings.

    The most relevant recent announcement here is the completion of the 2023 share repurchase program, which retired 15.67% of shares while EPS moved higher. That combination reinforces how much of Murphy USA’s recent per share earnings growth has come from buybacks alongside operating performance, and it matters for how you weigh future catalysts like store expansion and digital initiatives against balance sheet capacity and ongoing shareholder returns.

    Yet behind these strong numbers, investors should also be aware of the longer term pressure from EV adoption and how it could eventually reshape...

    Read the full narrative on Murphy USA (it's free!)

    Murphy USA's narrative projects $21.8 billion revenue and $550.4 million earnings by 2029. This requires 8.0% yearly revenue growth and a $3.3 million earnings decrease from $553.7 million today.

    Uncover how Murphy USA's forecasts yield a $630.90 fair value, a 14% upside to its current price.

    Exploring Other Perspectives

    MUSA 1-Year Stock Price Chart
    MUSA 1-Year Stock Price Chart

    Some of the most optimistic analysts were already expecting about US$23.7 billion of revenue and US$575 million of earnings by 2029, and they see store expansion as a powerful offset to EV and merchandise mix risks, so this stronger quarter might either reinforce their view or prompt a rethink of just how much upside is really on the table.

    Explore 3 other fair value estimates on Murphy USA - why the stock might be worth as much as 14% more than the current price!

    Reach Your Own Conclusion

    Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.