Phillips 66 (PSX) is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company operates through the four business segments, namely, Midstream, Chemicals, Refining, and Marketing and Specialties.
Currently, Phillips 66 has a Zacks Rank #3 (Hold) but that could change following its second quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Phillips 66 beats on earnings. Earnings per share from continuing operations (excluding special items) came in at $1.83, above the Zacks Consensus Estimate of $1.81.
Revenue: Revenues of $29.1 billion came above the Zacks Consensus Estimate of $25.3 billion.
Key Stats:
The Midstream segment generated adjusted quarterly earnings of $48 million compared with $108 million in the year-ago quarter. The Chemicals segment generated adjusted earnings of $295 million as against $324 million in the comparable quarter last year. TheRefining segment generated adjusted earnings of $604 million compared with earnings of $390 million in the prior-year quarter. Marketing and Specialties (M&S) earnings were $182 million, up from $162 million reported in the comparable quarter last year.
Check back later for our full write up on this Phillips 66 earnings report later!
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