Exhibit 99.2 Phillips 66 Earnings Release Supplemental Data CONSOLIDATED INCOME STATEMENT Millions of Dollars, Except as Indicated 2024 2023 1st 2nd 3rd 4th 1st 2nd 3rd 4th Qtr Qtr Qtr Qtr YTD Qtr Qtr Qtr Qtr YTD Revenues and Other Income Sales and other operating revenues 35,811 35,811 34,396 35,090 39,643 38,270 147,399 Equity in earnings of affiliates 528 528 611 563 562 281 2,017 Net gain (loss) on dispositions — — 34 (12) 102 (9) 115 Other income** 97 97 48 99 15 197 359 Total Revenues and Other Income ...

Company Performance - Phillips 66 reported quarterly earnings of $1.90 per share, missing the Zacks Consensus Estimate of $2.05 per share, and down from $4.21 per share a year ago, representing an earnings surprise of -7.32% [1] - The company posted revenues of $36.44 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 17.35%, compared to $35.09 billion in the same quarter last year [1] - Over the last four quarters, Phillips 66 has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [1] Stock Performance - Phillips 66 shares have increased approximately 18.1% since the beginning of the year, outperforming the S&P 500's gain of 5.8% [2] - The current consensus EPS estimate for the upcoming quarter is $4.40 on revenues of $34.3 billion, and for the current fiscal year, it is $13.77 on revenues of $134.41 billion [4] Industry Outlook - The Oil and Gas - Refining and Marketing industry is currently ranked in the top 19% of over 250 Zacks industries, indicating a favorable outlook for stocks within this sector [5] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the industry outlook can significantly impact stock performance [3][5]

Group 1 - The average brokerage recommendation (ABR) for Phillips 66 (PSX) is 1.68, indicating a consensus between Strong Buy and Buy, with 63.2% of recommendations being Strong Buy and 5.3% being Buy [1][2] - Brokerage recommendations may not effectively guide investors, as they often exhibit a positive bias due to the vested interests of brokerage firms, leading to a disproportionate number of favorable ratings [2][4] - The Zacks Rank, which is based on earnings estimate revisions, is a more reliable indicator of a stock's near-term price performance compared to ABR [3][4] Group 2 - The Zacks Consensus Estimate for Phillips 66 has increased by 8.3% over the past month to $13.59, reflecting analysts' growing optimism about the company's earnings prospects [6] - The recent increase in the consensus estimate, along with other factors, has resulted in a Zacks Rank 2 (Buy) for Phillips 66, suggesting potential for stock appreciation [6]

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Core Viewpoint - Phillips 66 (PSX) is expected to report a decline in earnings for the first quarter of 2024, with adjusted earnings per share estimated at $2.16, reflecting a 48.7% decrease from the previous year [2] Earnings Performance - In the last reported quarter, PSX's adjusted earnings were $3.09 per share, surpassing the Zacks Consensus Estimate of $2.37 due to reduced costs, although this was partially offset by lower refining margins globally [1] - PSX has beaten the Zacks Consensus Estimate in three of the last four quarters, with an average surprise of 13.5% [1] Estimate Trend - The Zacks Consensus Estimate for first-quarter revenues is $31.1 billion, indicating an 11.5% decline from the year-ago figure [2] Factors Impacting Earnings - The midstream business, which includes pipelines and storage, is expected to generate stable earnings due to its lower sensitivity to commodity price fluctuations and integration with other segments [3] - Refining operations are anticipated to be negatively impacted by the disparity between high crude oil prices and lower retail gasoline prices, leading to decreased profitability [4] Earnings Whispers - The Earnings ESP for PSX is -4.23%, indicating a lower likelihood of an earnings beat, with the Most Accurate Estimate at $2.07 per share compared to the Zacks Consensus Estimate of $2.16 [5]

Phillips 66 (PSX) closed the latest trading day at $154.71, indicating a +0.91% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.88% for the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.The oil refiner's stock has dropped by 3.63% in the past month, falling short of the Oils-Energy sector's gain of 2.78% and the S&P 500's loss of 2.57%.The investment community will be closely monitoring the performance of Phillips 66 in its ...

The market expects Phillips 66 (PSX) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on April 26, 2024, might help the stock move higher if these key numbers are bett ...

Phillips 66 (PSX) closed the most recent trading day at $165.41, moving +0.15% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.74%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq gained 1.68%.Prior to today's trading, shares of the oil refiner had gained 6.92% over the past month. This has lagged the Oils-Energy sector's gain of 8.96% and outpaced the S&P 500's gain of 0.8% in that time.The upcoming earnings release of Phillips 66 will be of great interest ...

AUSTIN, TEXAS - MAY 30: Valero gas station prices are seen on May 30, 2023 in Austin, Texas. Gas ... [+] prices begin to rise nationally, but remain lower than prices around this time last year. (Photo by Brandon Bell/Getty Images)Getty ImagesAfter the year-to-date move of over 25% each, we believe that the energy stocks Phillips 66 (NYSE: PSX) and Valero Energy (NYSE: VLO) are fully valued. PSX trades at a marginally higher valuation of 0.5x trailing revenues, compared to 0.4x for VLO. Although Phillips 66 ...

The refiner announced alignment with its activist investor as refining margins continued to increase.Shares of U.S. oil and chemical refiner and midstream giant Phillps 66 (PSX 0.04%) rallied 14.6% in March, according to data from S&P Global Market Intelligence.Not only did Phillips 66 benefit from an increasingly favorable pricing environment for refiners, but the company's CEO also said in an interview its new strategy earned the approval of the company's high-profile activist investor.Elliott signs off a ...