PSX - Did high crude prices dent Phillips 66 Q3 Earnings?
Phillips 66 (NYSE:PSX) is scheduled to announce Q3 earnings results on Friday, October 29th, before market open. The consensus EPS Estimate is $1.93 (compared to -$0.01 in year ago quarter) and the consensus Revenue Estimate is $24.33B (+49.4% Y/Y). Higher crude prices in Q3 might have eroded the company's massive potential gains. Also, Hurricane Ida-related downtimes in the September quarter might have affected refining operations in Louisiana. Over the last 2 years, PSX has beaten EPS estimates 75% of the time and has beaten revenue estimates 50% of the time. Over the last 3 months, EPS estimates have seen 9 upward revisions and 3 downward. Revenue estimates have seen 3 upward revisions and 1 downward. Yesterday, the company agreed to acquire all publicly held common units in Phillips 66 Partners in an all-stock deal valued at ~$3.4B. The company raised quarterly dividend by 2.2% to $0.92 and it repaid $500M of
For further details see:
Did high crude prices dent Phillips 66 Q3 Earnings?