PSX - Phillips 66 Analysts Increase Their Forecasts Following Upbeat Earnings | Benzinga
Phillips 66 (NYSE: PSX) reported better-than-expected fourth-quarter financial results on Wednesday.
Revenue of $38.74 billion exceeded the consensus of $36.50 billion. Adjusted EPS of $3.09 beat the consensus of $2.35, according to data from Benzinga Pro.
Midstream segment adjusted pre-tax income stood at $754 million, vs. $569 million in the third quarter of fiscal 2023. The Chemicals segment adjusted pre-tax income was $106 million vs. $104 million in prior quarter. Global olefins and polyolefins utilization was at 94% for the quarter.
The Refining segment adjusted pre-tax income stood at $797 million (vs. $1.74 billion in Q3), reflecting lower realized margins. Marketing and Specialties segment adjusted pre-tax income declined to $432 million ...