Murphy USA Inc. (NYSE:MUSA) Q1 2023 Earnings Conference Call May 3, 2023 11:00 AM ET

Company Participants

Christian Pikul - Vice President of Investor Relations

Andrew Clyde - President and Chief Executive Officer

Mindy West - Executive Vice President of Fuels and Chief Financial Officer

Conference Call Participants

Anthony Bonadio - Wells Fargo

Bobby Griffin - Raymond James

Bonnie Herzog - Goldman Sachs

John Royall - JPMorgan

Ben Bienvenu - Stephens

Operator

Good morning, ladies and gentlemen. Welcome to the Murphy USA First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode, and please be advised that this call is being recorded. After the speaker's prepared remarks, there will be a question-and-answer session. [Operator's Instructions]

And now at this time, I'll turn things over to Christian Pikul, Vice President of Investor Relations. Christian, please go ahead.

Christian Pikul

Yes. Thank you, Bob. Good morning, everyone. Thanks for joining us today. With me, as usual, are Andrew Clyde, President and Chief Executive Officer; Mindy West, Executive Vice President and Chief Financial Officer; and Donnie Smith, Vice President and Controller. After some opening comments from Andrew, Mindy will provide an overview of the financial results, and then we will open up the call to Q&A.

Please keep in mind that some of the comments made during this call, including the Q&A portion, will be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. As such, no assurances can be given that these events will occur or that the projections will be attained. A variety of factors exist that may cause actual results to differ. For further discussion of risk factors, please see the latest Murphy USA Forms 10-K, 10-Q, 8-K and other recent SEC filings. Murphy USA takes no duty to publicly update or revise any forward-looking statements.

During today's call, we may also provide certain performance measures that do not conform to generally accepted accounting principles or GAAP. We have provided schedules to reconcile these non-GAAP measures with the reported results on a GAAP basis as part of our earnings press release, which can be found on the Investors section of our website.

I will go ahead and turn it over to Andrew.

Andrew Clyde

Thank you, Christian. Good morning, and welcome to everyone joining us today. Murphy USA performed extremely well during the first quarter of 2023, delivering results in line with our high expectations and results that support the future value creation potential we see in the business. All-in fuel margins of around $0.29 per gallon reaffirm our view of the structurally higher industry margins.