Murphy USA (MUSA) reported Q1 net income late Wednesday of $2.63 per diluted share, down from $3.12 a year earlier.
Analysts polled by FactSet expected $3.91.
Revenue for the quarter ended March 31 was $4.53 billion, down from $4.84 billion a year earlier.
Analysts expected $4.67 billion.
Shares of the petroleum products retailer fell 2.2% in after-hours activity.