Murphy USA delivered steady Q3 performance, maintaining EBITDA levels despite lower fuel margins, while announcing a significant leadership transition and a new share repurchase program.

• New $2 billion share repurchase program authorized, following the completion of an existing $1.5 billion initiative.
• Q3 EBITDA remained consistent year-over-year despite a decline in fuel margins, highlighting operational resilience.
• Merchandise contribution guidance for the year has been revised to the upper end of expectations, driven by robust Q3 results and strong fourth-quarter momentum.
• Ongoing operational efficiencies led to lower-than-expected OpEx and G&A expenses, indicative of successful restructuring initiatives.
• The company continues to benefit from a structural margin increase in retail fuel, positioning it well for future cycles.