Phillips 66

PSX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Phillips 66 Earnings: Strong Year-End Likely to Extend Into 2026 as Long-Term Plans on Track

Allen Good

Feb 5, 2026

Phillips 66’s fourth-quarter 2025 earnings topped expectations. Adjusted earnings of $1.0 billion improved from a loss a year ago on strong improvement in the refining and marketing segments. Midstream adjusted EBITDA rose year over year, on track to hit a $4.5 billion run rate by year-end 2027.

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Phillips 66

Phillips 66 Earnings: Strong Year-End Likely to Extend Into 2026 as Long-Term Plans on Track

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