Phillips 66 Q4 Earnings Call Highlights

Midstream and Chemicals executive Don Baldridge said the segment has increased adjusted EBITDA by 40% since 2022 and delivered approximately $1 billion of adjusted EBITDA in the fourth quarter of 2025 . He attributed growth to portfolio simplification, acquisitions (including Pinnacle and Coastal Bend), and expansions such as the Sweeny Hub and Dos Picos II.In refining, Lashier reiterated a multi-year objective to reduce adjusted controllable costs, targeting approximately $5.50 per barrel on an annual basi ...