Earnings ·
Reports $5.6B Q3 earnings, or $14.08 per share, driven by strong refining margins and volumes
PSXPhillips 66
Phillips 66 reported third-quarter net income of $5.6 billion, or $14.08 per diluted share, compared to $3.8 billion in the prior quarter. Adjusted earnings also reached $5.6 billion, while adjusted EBITDA rose to $8.1 billion from $5.9 billion. The Refining segment drove performance with $6.0 billion in earnings on 98% crude capacity utilization and record Central Corridor processed inputs of 848 thousand barrels per day. The company returned $2.8 billion to shareholders through dividends and share repurchases, reduced total debt by $2.0 billion to $18.5 billion, and reached a final investment decision on the Western Gateway Pipeline system. Phillips 66 is an integrated downstream energy provider that manufactures, transports and markets petroleum products.