Categories Earnings, Energy

Phillips 66 (NYSE: PSX): Q3 2019 Earnings Snapshot

— 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.

Phillips 66 (NYSE: PSX): Q3 2019 Earnings Snapshot

— 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

Aurora Cannabis (ACB) Earnings: 3Q21 Key Numbers

Aurora Cannabis Inc. (NYSE: ACB) reported third quarter 2021 earnings results today. Total revenues fell 25% year-over-year to CAD55.1 million. Adjusted EBITDA loss amounted to CAD24 million. Cash balance as

Walt Disney (DIS) Q2 revenue down 13%; earnings beat estimates

Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and

Three key factors that bode well for Tattooed Chef (TTCF) going forward

Shares of Tattooed Chef Inc. (NASDAQ: TTCF) have gained 57% over the past 12 months but has dropped 25% since the start of this year. The sentiment on the stock

Add Comment
Viewing Highlight