Stay Ahead of the Game With Phillips 66 (PSX) Q2 Earnings: Wall Street's Insights on Key Metrics

Core Insights - Phillips 66 (PSX) is expected to report quarterly earnings of $1.63 per share, a decline of 29.4% year-over-year, with revenues forecasted at $30.54 billion, down 21.5% from the previous year [1] Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised upward by 4.7%, indicating analysts' reassessment of their initial forecasts [2] - Changes in earnings estimates are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate revisions and short-term stock performance [3] Revenue and Key Metrics - Analysts predict 'Sales and other operating revenues' to be $30.66 billion, reflecting a year-over-year decrease of 19.6% [5] - The estimated 'Equity in earnings of affiliates' is $316.23 million, indicating a decline of 35.1% compared to the prior year [5] - 'Revenues and Other Income - Other income' is projected to reach $41.52 million, down 28.4% from the year-ago quarter [6] - 'Revenues - Total Refining' is expected to be $15.63 billion, showing a significant increase of 69.9% year-over-year [6] Refining Operations - 'Refining operations - Gulf Coast - Crude oil processed' is forecasted at 495.27 thousand barrels per day, down from 507.00 thousand barrels per day in the same quarter last year [7] - 'Refining operations - Atlantic Basin/Europe - Crude oil capacity' is estimated to remain stable at 537.00 thousand barrels per day, unchanged from the previous year [8] - 'Refining operations - Worldwide - Crude oil processed' is expected to be 1,751.92 thousand barrels per day, down from 1,802.00 thousand barrels per day in the same quarter last year [9] - 'Refining operations - Atlantic Basin/Europe - Capacity utilization' is projected at 94.6%, down from 98.0% year-over-year [9] - 'Refining operations - Atlantic Basin/Europe - Crude oil processed' is expected to be 508.20 thousand barrels per day, down from 527.00 thousand barrels per day in the previous year [10] - 'Refining operations - West Coast - Crude oil processed' is forecasted at 228.29 thousand barrels per day, slightly up from 227.00 thousand barrels per day last year [10] - 'Refining operations - West Coast - Capacity' is expected to remain at 244.00 thousand barrels per day, unchanged from the previous year [11] - 'Refining operations - West Coast - Capacity utilization' is projected at 93.6%, slightly up from 93.0% in the same quarter last year [12] Stock Performance - Over the past month, Phillips 66 shares have returned +6.9%, outperforming the Zacks S&P 500 composite's +5.7% change [13]