Phillips 66 (PSX) Beats Earnings & Revenue Estimates in Q4

Phillips 66 (PSX) has reported fourth-quarter 2023 adjusted earnings of $3.09 per share, which beat the Zacks Consensus Estimate of $2.37. However, the bottom line was lower than the year-ago quarter’s $4.Total quarterly revenues of $38.74 billion beat the Zacks Consensus Estimate of $34.3 billion. However, the top line declined from the year-ago quarter’s $40.91 billion.Better-than-expected quarterly results can be primarily attributed to decreased costs and expenses. The positives were partially offset by ...