Categories AlphaGraphs, Earnings, Energy

Infographic: Phillips 66 (PSX) reports Q1 2023 financial results

Diversified energy company Phillips 66 (NYSE: PSX) on Wednesday announced results for the first quarter, reporting a decline in revenues and a sharp increase in adjusted profit.

Phillips 66 Q1 2023 earnings infographic

Total revenue and other income decreased 4% year-over-year to $35.09 billion for the first quarter of 2023.

Net income attributable to Phillips 66 was $1.96 billion, or $4.20 per share in the first quarter, compared to $582 million or $1.29 per share in the prior-year period. Adjusted earnings rose sharply to $4.21 per share from $1.32 per share last year.

“We continued to make progress on our strategic priorities, delivering strong financial and operating results in the quarter,” said Mark Lashier, CEO of Phillips 66.

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