Phillips 66 (PSX) Q2 Earnings Beat, Revenues Increase Y/Y

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 ...