Recent Updates — PSX
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.
Richard G. Harbison, Executive Vice President of Refining at Phillips 66, provided notice on September 29, 2026, that he intends to retire from the company. His departure is scheduled to become effective on December 31, 2026. This filing discloses a change in senior leadership within the refining division but does not indicate an immediate replacement or succession plan details at this time. Phillips 66 operates as an international energy and manufacturing company involved in midstream, chemicals, and refueling retail operations.
On August 20, 2026, Phillips 66 amended its accounts receivable securitization program via the Fifth Amendment to Receivables Purchase and Financing Agreement. The amendment establishes an uncommitted facility of up to $250 million, increases the maximum committed facility size from $1.75 billion to $2 billion, and extends the maturity date from September 28, 2026, to August 19, 2027. Phillips 66 operates in the energy sector, specifically refining, marketing, and transporting crude oil and petroleum products.
Phillips 66 reported second-quarter 2026 earnings of $3.8 billion, or $9.55 per diluted share, compared to $207 million in the first quarter. Adjusted earnings were $3.8 billion, or $9.41 per diluted share. The company reduced total debt by $6.6 billion to $20.6 billion and net debt to $16.5 billion. Operating highlights included 96% crude capacity utilization, record NGL fractionation volumes, and full production at the Dos Picos II gas plant. Phillips 66 is an integrated downstream energy provider that manufactures, transports, and markets petroleum products, chemicals, and renewable fuels.