Insights Into Phillips 66 (PSX) Q2: Wall Street Projections for Key Metrics

Core Viewpoint - Analysts forecast that Phillips 66 (PSX) will report quarterly earnings of $1.63 per share, reflecting a year-over-year decline of 29.4%, with anticipated revenues of $30.54 billion, a decrease of 21.5% compared to the previous year [1]. Earnings Projections - Over the last 30 days, there has been an upward revision of 0.8% in the consensus EPS estimate for the quarter, indicating a collective reconsideration by covering analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue and Key Metrics Estimates - Analysts estimate 'Sales and other operating revenues' to reach $30.66 billion, indicating a year-over-year change of -19.6% [5]. - The estimate for 'Equity in earnings of affiliates' is projected at $316.23 million, reflecting a year-over-year decline of 35.1% [5]. - 'Revenues and Other Income - Other income' is expected to be $41.52 million, showing a change of -28.4% from the prior-year quarter [5]. Refining Operations - 'Revenues - Total Refining' is expected to be $15.63 billion, indicating a significant increase of 69.9% from the prior-year quarter [6]. - 'Refining operations - Gulf Coast - Crude oil processed' is projected to reach 495.27 thousand barrels per day, down from 507.00 thousand barrels per day in the same quarter last year [6]. - 'Refining operations - Atlantic Basin/Europe - Crude oil capacity' is expected to remain stable at 537.00 thousand barrels per day, consistent with the previous year's figure [7]. Global Refining Metrics - Worldwide crude oil processed is estimated at 1,751.92 thousand barrels per day, down from 1,802.00 thousand barrels per day year-over-year [8]. - 'Refining operations - Atlantic Basin/Europe - Capacity utilization' is forecasted to be 94.6%, down from 98.0% in the previous year [8]. - 'Refining operations - Atlantic Basin/Europe - Crude oil processed' is estimated at 508.20 thousand barrels per day, compared to 527.00 thousand barrels per day in the same quarter last year [9]. West Coast Operations - 'Refining operations - West Coast - Crude oil processed' is projected at 228.29 thousand barrels per day, slightly up from 227.00 thousand barrels per day in the previous year [10]. - 'Refining operations - West Coast - Capacity' is expected to remain at 244.00 thousand barrels per day, unchanged from the prior year [10]. - 'Refining operations - West Coast - Capacity utilization' is forecasted to be 93.6%, compared to 93.0% in the same quarter last year [11]. Stock Performance - Shares of Phillips 66 have increased by 4.2% over the past month, compared to a 5.9% increase in the Zacks S&P 500 composite [12].