Phillips 66: 4Q Earnings Snapshot
HOUSTON (AP) _ Phillips 66 (PSX) on Friday reported fourth-quarter earnings of $2.24 billion.
On a per-share basis, the Houston-based company said it had profit of $4.82. Earnings, adjusted for non-recurring costs, were $4.87 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.76 per share.
The oil refiner posted revenue of $29.84 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $35.51 billion.
For the year, the company reported profit of $5.6 billion, or $11.80 per share. Revenue was reported as $114.22 billion.
Phillips 66 shares have climbed 6.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 8 percent. The stock has fallen 4 percent in the last 12 months.