Phillips 66: 3Q Earnings Snapshot

October 26, 2018 GMT

HOUSTON (AP) _ Phillips 66 (PSX) on Friday reported third-quarter net income of $1.49 billion.

On a per-share basis, the Houston-based company said it had net income of $3.18. Earnings, adjusted for non-recurring gains, were $3.10 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.50 per share.

The oil refiner posted revenue of $30.59 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $28.5 billion.


Phillips 66 shares have declined roughly 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 1 percent. The stock has climbed slightly more than 7 percent in the last 12 months.


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