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Phillips 66: 2Q Earnings Snapshot

July 26, 2019

HOUSTON (AP) _ Phillips 66 (PSX) on Friday reported second-quarter profit of $1.42 billion.

On a per-share basis, the Houston-based company said it had profit of $3.12. Earnings, adjusted for pretax gains, were $3.02 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share.

The oil refiner posted revenue of $28.52 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $29.89 billion.

Phillips 66 shares have risen 18% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has dropped roughly 10% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSX at https://www.zacks.com/ap/PSX

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