Murphy USA Shares Fall Almost 9% After Modest 4Q Earnings Report

One year after getting a huge profit boost from the 2017 corporate tax cuts, El Dorado-based Murphy USA Inc. posted more modest results of $78 million after Wednesday’s closing bell to close out the 2018 calendar year.

Those less-than-stellar quarterly financials led to a huge sell-off of Murphy USA shares  (NYSE: MUSA) in Thursday’s session as the Arkansas publicly-traded stock fell more than 10% in intraday trading. The company’s shares closed at $73.52, down $7.05, or 8.75%, as nearly 1.49 million shares traded hands, more than four times the normal volume.

For the period ended Dec. 31, the company reported net income of $77.8 million or $2.38 per share, down 37.6% from $124.8 million, or $3.58 per share, in the same period of 2017. Revenues in the three-month period, however, rose slightly by 3.8% to $3.5 billion, compared to $3.37 billion a year ago.    MORE

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