trending Market Intelligence /marketintelligence/en/news-insights/trending/1rOysrob5yDbniKyB9RBLg2 content esgSubNav
In This List

Phillips 66 posts lower Q3 earnings, beats Street estimate

Blog

Despite turmoil, project finance remains keen on offshore wind

Case Study

An Energy Company Assesses Datacenter Demand for Renewable Energy

Blog

Japan M&A By the Numbers: Q4 2023

Video

See the Big Picture: Energy Transition in 2024


Phillips 66 posts lower Q3 earnings, beats Street estimate

Phillips 66 on Oct. 25 reported third-quarter adjusted earnings of $1.40 billion, or $3.11 per share, down from $1.46 billion, or $3.10 per share, a year ago.

The company beat the S&P Global Market Intelligence normalized earnings consensus estimate of $2.62 per share.

The refining segment posted an adjusted pretax income of $839.0 million, while the marketing and specialties segment brought in $498.0 million.

On a GAAP basis, consolidated earnings totaled $712.0 million, down from $1.49 billion in the prior-year period.

The company also returned $841.0 million to shareholders through dividends and share repurchases during the quarter.

In a separate release, Phillips 66 Partners LP reported third-quarter net income of $237.0 million, or $1.15 per unit, up from $217.0 million, or $1.10 cents per unit, a year earlier.