Phillips 66 (PSX) Reports Q1 Earnings: What Key Metrics Have to Say

Core Insights - Phillips 66 reported a revenue of $31.73 billion for the quarter ended March 2025, which is a decrease of 12.9% compared to the same period last year [1] - The company's EPS was -$0.90, a significant drop from $1.90 in the year-ago quarter, indicating a negative performance [1] - The reported revenue exceeded the Zacks Consensus Estimate of $30.65 billion by 3.49%, while the EPS fell short of the consensus estimate of -$0.77 by 16.88% [1] Financial Performance Metrics - The refining margins for the Atlantic Basin/Europe were reported at $7.08 per barrel, surpassing the average estimate of $5.78 [4] - Worldwide refining margins were $6.81 per barrel, slightly below the average estimate of $6.98 [4] - Gulf Coast refining margins were $4.43 per barrel, lower than the estimated $5.65 [4] - Central Corridor refining margins were $8.29 per barrel, compared to the average estimate of $9.15 [4] - Total refined petroleum products sales in the U.S. were 1,828 thousand barrels per day, below the average estimate of 1,883.67 thousand barrels [4] - Total petroleum products sales volumes were 2,140 thousand barrels per day, also below the estimated 2,204.79 thousand barrels [4] - Midstream pipeline throughput was 2,893 thousand barrels per day, slightly below the estimate of 2,939.66 thousand barrels [4] - Midstream terminal throughput was 2,938 thousand barrels per day, compared to the average estimate of 3,051.71 thousand barrels [4] - Sales and other operating revenues were $30.43 billion, lower than the estimated $30.68 billion, reflecting a 15% decrease year over year [4] - Equity in earnings of affiliates was $153 million, significantly below the estimated $390.70 million, marking a 71% decline year over year [4] - Other income was reported at $56 million, compared to the average estimate of $61.52 million, representing a 42.3% year-over-year decrease [4] Stock Performance - Shares of Phillips 66 have declined by 16.1% over the past month, while the Zacks S&P 500 composite has decreased by 4.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]