Murphy USA Inc.

Murphy USA Inc. operates a U.S. network of low-price fuel and convenience retail stores, with most locations positioned near Walmart stores and concentrated in the Southeast, Midwest, and Southwest. It also serves unbranded wholesale fuel customers through terminals and pipeline positions, while the QuickChek chain gives it a larger-format convenience presence in the Northeast.

5,1 %

2,4 %

−4,2 %

0.80

0.36

— Murphy USA Inc.
%
Retail motor fuel77% Gasoline and other motor fuel sold at company-operated retail sites.
Convenience merchandise22% In-store merchandise, including tobacco/nicotine and everyday convenience items.
Other operating revenues1% Ancillary revenue such as fees and other store-related income.

Murphy USA sells primarily to value-conscious U.S. motorists who want low-priced fuel and quick convenience purchases...

  • Value-conscious retail motoristsprimary

    Buy gasoline at Murphy USA and Murphy Express sites because of low prices, convenience, and speed.

  • Walmart-adjacent shoppersprimary

    Shop at stores near Walmart locations, where shared traffic and fuel discounts support visits.

  • Convenience merchandise buyersprimary

    Purchase snacks, beverages, nicotine, and other convenience items that lift basket size.

  • QuickChek food and beverage customerssecondary

    Buy broader convenience and prepared-food offerings in New Jersey and New York.

  • Unbranded wholesale fuel customerssecondary

    Buy petroleum products through terminals and pipeline positions for resale or distribution.

Murphy USA is a U.S.-only business with 1,800 stores across 27 states, concentrated in the Southeast, Midwest, and...

  • •United States only; no material international operations disclosed
  • •Stores in 27 states, with core density in the Southeast, Midwest, and Southwest
  • •QuickChek operates in New Jersey and New York as the Northeast region
  • •Most Murphy stores are near Walmart locations, supporting traffic and cross-shopping
  • •Wholesale fuel supply uses terminals and pipeline positions across the U.S.

Murphy USA’s strategy centers on adding new stores, improving existing sites, and using its Walmart adjacency to drive...

01
New store developmentshort-term

Adds fuel volume and convenience sales while extending the network into desirable locations.

02
Walmart-linked traffic capturemedium-term

Proximity to Walmart stores supports repeat visits and reinforces the low-price value proposition.

03
Food and beverage expansionmedium-term

Raises merchandise mix and improves economics beyond fuel-only transactions.

04
Network maintenance and reliabilityshort-term

Protects uptime, customer experience, and store productivity across a large dispersed footprint.

Murphy USA is exposed to fuel-margin volatility, consumer spending pressure, and operational risks tied to running a...

high

Fuel demand and margin volatility

Consumer driving, fuel prices, and competitive pricing affect gallons sold and profitability.

Scope
Retail fuel and wholesale fuel sales
Materiality
high
high

Supply chain and transportation disruption

The business relies on third-party pipelines, vessels, terminals, and suppliers to move refined products.

Scope
Retail fuel availability and delivered cost
Materiality
high
high

Data security and privacy breach

The company processes large amounts of customer payment data and uses third-party technology vendors.

Scope
Customer data, payment systems, compliance
Materiality
high
medium

Operational accidents and insurance gaps

Fuel retailing involves fire, environmental, and workplace hazards that can exceed insurance coverage.

Scope
Store operations and liability claims
Materiality
medium
medium

Store development execution

Growth depends on a multi-year pipeline of new sites and timely capital deployment.

Scope
Store count growth and capital efficiency
Materiality
high
Seasonality and same-store sales
Affects revenue, margins, and operating income comparability
Asset retirement obligations
Affects liabilities and accretion expense
Lease and occupancy accounting
Affects store expense structure and balance sheet commitments
Rewards and discount programs
Affects revenue comparability and customer traffic analysis
Acquisition-related goodwill and intangibles
Affects non-cash charges and reported earnings

CrossAmerica Partners LP

CAPL · Wholesale-Petroleum & Petroleum Products (No Bulk Stations)

Sunoco LP

SUN · Petroleum Refining

ARKO Corp.

ARKO · Retail-Convenience Stores

MURPHY OIL CORP

MUR · Crude Petroleum & Natural Gas

KROGER CO

KR · Retail-Grocery Stores

SUBURBAN PROPANE PARTNERS LP

SPH · Retail-Miscellaneous Retail

: 28/04/2026