Key TakeawaysPhillips 66 beat profit and sales estimates in the second quarter as midstream income jumped 23.7% year-over-year.The energy company pointed to higher natural gas liquids volume and margin, along with cost cuts, for the midstream gains.Phillips' crude utilization rate was the highest in five years. Shares of Phillips 66 (PSX) jumped in intraday trading Tuesday after the energy company posted better-than-anticipated results on higher midstream profit. The company reported second-quarter earnings ...

Phillips 66 (PSX) reported second-quarter 2024 adjusted earnings of $2.31 per share, which beat the Zacks Consensus Estimate of $2.12. However, the bottom line was lower than the year-ago quarter’s level of $3.87.Total quarterly revenues of $38.9 billion beat the Zacks Consensus Estimate of $32 billion. The top line also improved from the year-ago quarter’s $35.7 billion.The better-than-expected quarterly results can be primarily attributed to record natural gas liquids (NGL) volumes in the Midstream segmen ...

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 | | ...

Phillips 66 (PSX) is set to report second-quarter 2024 earnings on Jul 30, before the opening bell.In the last reported quarter, the company’s earnings of $1.90 per share missed the Zacks Consensus Estimate of $2.05 due to lower refining margins worldwide and increased expenses. PSX’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed the same twice, delivering an average surprise of 7.3%. This is depicted in the graph below.Estimate TrendThe Zacks Consensus Estimate ...

Phillips 66 (PSX) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on July 30, 2024, might help the stock move higher if these key numbers are better than expectat ...

Phillips 66 continues to raise its dividend at a breakneck rate.In addition to being the most valuable U.S.-based energy company, ExxonMobil is a consistent dividend payer, with over 42 consecutive years of raising its payout. With a diversified business model and enough cash flow to invest in organic growth, acquisitions, and the energy transition, Exxon and its 3.3% yield are a compelling offering.However, midstream, refining, chemical, and marketing company Phillips 66 (PSX 0.56%) also stands out as a go ...

Phillips 66 (PSX) has taken a significant step in modernizing its data protection operations by selecting Cohesity, a leader in AI-powered data security and management.Before implementing Cohesity’s innovative solutions, Phillips 66's data protection strategy relied on five disparate and siloed tools. This fragmented approach required backup teams to spend considerable time managing these tools, leading to inefficiencies, decreased productivity and escalating cloud costs.After a thorough competitive evaluat ...

StockPhotoAstur Shares of Phillips 66 (NYSE:PSX) have been a strong performer over the past year, rising by about one-third, but performance has been materially weaker of late with PSX down by about 23% since the beginning of April as concerns have intensified around the direction of the refining cycle. Given concerns about relative valuation, I downgraded shares to a “hold” in April. While I was right to downgrade them, I did not move sharply enough as the stock has fallen by 22% since that analysis, l ...

Phillips 66 (PSX) , a leading integrated energy company, has announced that it has finished the full conversion of its Rodeo Renewable Energy Complex in California. The complex has achieved full production rates following the conversion, which has raised throughput rates to 50,000 barrels per day. This equals approximately 800 million gallons of renewable fuel per year.The Rodeo complex has completely ceased crude oil processing and shifted to the production of renewable diesel and sustainable aviation fuel ...

In the latest market close, Phillips 66 (PSX) reached $139.40, with a -0.27% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.09%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.3%.Shares of the oil refiner witnessed a gain of 1.15% over the previous month, beating the performance of the Oils-Energy sector with its loss of 1.6% and underperforming the S&P 500's gain of 3.38%.Market participants wil ...