Phillips 66
PSX: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$647.00 | Vwbmpgr | Bwxfryw |
Phillips 66 Earnings: Positive Update on Strategic Plan Results in Higher Shareholder Payouts
Phillips 66 reported third-quarter adjusted earnings of $2.1 billion, compared with $3.1 billion a year ago, largely because of weaker refining margins. Adjusted earnings for the refining segment fell to $1.7 billion from $2.9 billion a year ago on a decrease in realized margins to $18.96/barrel, from $26.87/bbl a year ago. Market margins weakened from the year before. Still, they remain well above midcycle levels, supporting strong earnings and shareholder returns.