Phillips 66: 2Q Earnings Snapshot
HOUSTON (AP) _ Phillips 66 (PSX) on Friday reported second-quarter profit of $1.34 billion.
On a per-share basis, the Houston-based company said it had profit of $2.84. Earnings, adjusted for non-recurring gains, came to $2.80 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.16 per share.
The oil refiner posted revenue of $29.74 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $29.4 billion.
Phillips 66 shares have risen 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 6 percent. The stock has risen 39 percent in the last 12 months.