— Phillips 66 (NYSE: PSX) reported its third-quarter 2019 adjusted earnings of $3.11 per share versus $2.59 per share expected.
— Revenue fell by 9% to $27.77 billion versus $27.79 billion expected.
— The pre-tax income from Midstream slipped to a loss from a profit last quarter, due to the inclusion of impairments related to its equity investment in DCP Midstream, LLC.
— The Chemicals’ pre-tax income fell by 17% sequential due to a reduction to equity earnings from a lower-of-cost-or-market inventory adjustment.
— Refining’s pre-tax income dropped by 13% quarter-over-quarter due to higher turnaround costs as well as lower realized margins, primarily reflecting weaker gasoline crack spreads in the Central Corridor.
— Marketing and Specialties’ pre-tax income jumped by 41% sequentially on higher margins, driven by favorable market conditions.
— During the quarter, Phillips 66 funded $402 million of dividends, $439 million of share repurchases and $867 million of capital expenditures and investments.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,
