Murphy OIL (MUR) Q2 FY2024 earnings: revenue $803 million, down 1.5% on the year

Murphy OIL Corp. (MUR) reported revenue of $803 million for Q2 FY2024, the quarter ended 30 June 2024, down 1.5% on the same quarter a year earlier. Net income was $128 million, up 30.0% on the year, and diluted earnings per share $0.83. The figures are the company's own, from the 10-Q it filed with the SEC on 8 August 2024.

Revenue$803 milliondown 1.5%

Net income$128 millionup 30.0%

Diluted EPS$0.83

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	803	796	n/a	n/a
Cost of revenue	3.0	0.2	n/a	n/a
Gross profit	800	796	n/a	n/a
Gross margin	99.6%	100.0%	n/a
Selling, general and administrative	22.9	31.2	n/a	n/a
Operating income	184	154	n/a	n/a
Operating margin	23.0%	19.3%	n/a
Interest expense	21.0	20.0	n/a	n/a
Pre-tax income	190	146	n/a	n/a
Income tax	32.7	30.1	n/a	n/a
Effective tax rate	17.2%	20.6%	n/a
Net income	128	90.0	n/a	n/a
Net margin	15.9%	11.3%	n/a
Diluted EPS	$0.83	$0.59	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Cash from investing	-268	-249	n/a	n/a
Cash from financing	-190	-144	n/a	n/a
Depreciation and amortisation	216	211	n/a	n/a
Share-based compensation	11.1	8.9	n/a	n/a
Buybacks	55.9	50.0	n/a	n/a
Dividends paid	45.8	45.8	n/a	n/a
Dividend per share	$0.30	$0.30	n/a	n/a
Diluted shares, weighted	153m	154m	n/a	n/a
Shares outstanding at period end	151m	153m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	5,324	5,304	n/a	n/a
Non-controlling interest	179	189	n/a	n/a
Debt	1,279	1,329	n/a	n/a
Operating lease liabilities	645	517	n/a	n/a
Other liabilities	2,467	2,331	n/a	n/a
Total liabilities and equity	9,894	9,669	n/a	n/a
Fixed assets	8,215	8,189	n/a	n/a
Cash and equivalents	334	323	n/a	n/a
Receivables	337	357	n/a	n/a
Inventory	51.8	49.7	n/a	n/a
Other assets	957	750	n/a	n/a
Total assets	9,894	9,669	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025 †	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	960	842	796	803	758	670	666	696	733	625	734	928
Cost of revenue	5.5	4.3	0.2	3.0	0.0	0.0	0.0	0.0	0.0	0.0	n/a	n/a
Gross profit	954	838	796	800	758	670	666	696	733	625	n/a	n/a
Gross margin	99%	99%	100%	100%	100%	100%	100%	100%	100%	100%	n/a	n/a
SG&A	30.7	42.9	31.2	22.9	24.9	31.2	30.9	36.9	30.9	38.6	34.9	38.7
Operating income	378	203	154	184	179	85.2	144	92.2	5.8	59.3	138	355
Operating margin	39%	24%	19%	23%	24%	13%	22%	13%	1%	10%	19%	38%
Interest expense	30.0	23.7	20.0	21.0	21.3	43.7	23.5	25.1	24.7	22.8	29.0	24.9
Pre-tax income	356	170	146	190	154	78.6	123	34.9	-3.7	28.9	119	341
Tax rate	22%	17%	21%	17%	1%	17%	27%	3%	n/a	23%	42%	23%
Net income	255	116	90.0	128	139	50.3	73.0	22.3	-3.0	11.9	53.0	232
Net margin	27%	14%	11%	16%	18%	8%	11%	3%	-0%	2%	7%	25%
Diluted EPS	$1.63	$0.75	$0.59	$0.83	$0.93	$0.34	$0.50	$0.16	-$0.02	$0.08	$0.37	$1.59
Buybacks	75.0	75.0	50.0	55.9	194	1.2	100	2.5	0.0	0.0	0.8	0.0
Dividends paid	42.8	42.3	45.8	45.8	44.7	43.8	47.0	46.4	46.4	46.4	50.2	50.2
Shares outstanding	154m	153m	153m	151m	146m	146m	143m	143m	143m	143m	143m	143m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 8 August 2024, accession 0000717423-24-000026: the filing on EDGAR. All of Murphy OIL Corp.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install