Phillips 66(US:PSX) Zacks Investment Researchยท2024-04-26 13:16Company Performance - Phillips 66 reported quarterly earnings of $1.90 per share, missing the Zacks Consensus Estimate of $2.05 per share, and down from $4.21 per share a year ago, representing an earnings surprise of -7.32% [1] - The company posted revenues of $36.44 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 17.35%, compared to $35.09 billion in the same quarter last year [1] - Over the last four quarters, Phillips 66 has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [1] Stock Performance - Phillips 66 shares have increased approximately 18.1% since the beginning of the year, outperforming the S&P 500's gain of 5.8% [2] - The current consensus EPS estimate for the upcoming quarter is $4.40 on revenues of $34.3 billion, and for the current fiscal year, it is $13.77 on revenues of $134.41 billion [4] Industry Outlook - The Oil and Gas - Refining and Marketing industry is currently ranked in the top 19% of over 250 Zacks industries, indicating a favorable outlook for stocks within this sector [5] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the industry outlook can significantly impact stock performance [3][5]