Phillips 66: Q4 Loss Worse Than Forecast

Phillips 66 delivered a substantial miss on earnings due to changing market conditions and strategic shifts.Phillips 66 (PSX -1.15%), an energy company with a focus on the refining, midstream, and chemical sectors, released its fourth-quarter earnings results on Jan. 31. The company reported an adjusted loss per share of $0.15, significantly missing analysts' consensus expectation for a$0.03 loss. GAAP earnings for the quarter were $8 million, while on an adjusted basis, the company lost$61 million. Reven ...