Murphy USA cuts FY24 merchandise contribution results to $830M-$840M

The company said, “Concurrent with the earnings release, the Company is also updating our full-year merchandise contribution results to a range of $830 million to $840 million, down from the original guided range of $860 million to $880 million. While nicotine results have been stronger than planned in 2024, we have experienced weaker than expected consumer demand, particularly in the Northeast, that has impacted both core food and beverage traffic drivers and related discretionary center-of-store sales. We expect the lower demand to persist through the remainder of 2024 and mostly offset the benefits from some of our back-half weighted initiatives. In addition, we are revising our guidance for raze-and-rebuild sites to more than 40, up from the originally guided range of 35 to 40, due primarily to the successful efforts of our team to pull forward some future projects into the current year.”