Murphy USA's MUSA shares have surged 36.2% over the past three months, significantly outperforming the Oil-Energy sector, which declined just 0.4% during the same period. The strong rally reflects growing investor confidence in the company's disciplined execution and long-term growth strategy.
Share Price Trend in the Past Three Months
Image Source: Zacks Investment Research
The convenience retailer is reinforcing that growth story by accelerating store expansion, a key pillar of its value-creation strategy. Following strong first-quarter 2026 results, Murphy USA reaffirmed plans to open 45-55 new stores this year, highlighting management's confidence in site economics, consumer demand and its ability to generate attractive returns on invested capital.
The expansion update comes at a time when Murphy USA is benefiting from favorable fuel margins, rising merchandise contribution and improving earnings expectations. With analysts becoming increasingly optimistic about the company's EPS outlook, investors may be wondering whether MUSA remains an attractive stock despite its recent gains.
Store Expansion Continues to Fuel Long-Term Growth
Murphy USA's investment appeal rests on a straightforward but effective strategy: expanding its store footprint while leveraging the low-cost operating model to drive higher fuel volumes and merchandise sales.
The company currently operates more than 1,800 stores across 27 states and serves nearly two million customers daily. Unlike many convenience-store operators that rely heavily on acquisitions, MUSA has largely pursued organic growth, allowing management to maintain operational consistency and focus on locations capable of generating strong returns.
Management's expectation of new stores opening in 2026 has been supported by 18 locations already under construction. As the network expands, the company benefits from greater operating leverage, increased customer traffic and higher revenue opportunities. The ability to consistently generate attractive returns from new-store investments remains one of Murphy USA's most important competitive strengths.
Strong Q1 Results Reflect Business Momentum
MUSA's first-quarter results highlighted the resilience of its value-oriented business model.
Earnings surged to $7.28 per share from $2.63 in the year-ago period, driven by stronger fuel margins, favorable fuel supply economics and growing merchandise contribution.
Image Source: Murphy USA Inc.
Total fuel contribution increased 40.6% year over year to $403.9 million, while fuel contribution margins expanded to 35 cents per gallon from 25.4 cents a year earlier.