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Phillips 66 (PSX) Misses on Q4 Earnings, Revenues Beat
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Phillips 66 (PSX - Free Report) is a diversified energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is an important asset in the portfolio.
The company operates through the four business segments, namely, Midstream, Chemicals, Refining, and Marketing and Specialties.
Currently, Phillips 66 has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below: You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings: Earnings per share from continuing operations (excluding special items) came in at 16 cents, below the Zacks Consensus Estimate of 39 cents.
Revenue: Revenues of $23,668 million has surpassed the Zacks Consensus Estimate of $21,614 million.
Key Stats: The Midstream segment generated adjusted quarterly loss of $1 million compared with a loss of $77 million in the year-ago quarter. The Chemicals segment generated adjusted earnings of $136 million as against $212 million in the comparable quarter last year. The Refining segment generated adjusted loss of $38 million compared with earnings of $410 million in the prior-year quarter. Marketing and Specialties (M&S) earnings were $190 million, down from $231 million reported in the comparable quarter last year.
Check back later for our full write up on this Phillips 66 earnings report later!
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Phillips 66 (PSX) Misses on Q4 Earnings, Revenues Beat
Phillips 66 (PSX - Free Report) is a diversified energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is an important asset in the portfolio.
The company operates through the four business segments, namely, Midstream, Chemicals, Refining, and Marketing and Specialties.
Currently, Phillips 66 has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below: You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings: Earnings per share from continuing operations (excluding special items) came in at 16 cents, below the Zacks Consensus Estimate of 39 cents.
Revenue: Revenues of $23,668 million has surpassed the Zacks Consensus Estimate of $21,614 million.
Key Stats: The Midstream segment generated adjusted quarterly loss of $1 million compared with a loss of $77 million in the year-ago quarter. The Chemicals segment generated adjusted earnings of $136 million as against $212 million in the comparable quarter last year. The Refining segment generated adjusted loss of $38 million compared with earnings of $410 million in the prior-year quarter. Marketing and Specialties (M&S) earnings were $190 million, down from $231 million reported in the comparable quarter last year.
Check back later for our full write up on this Phillips 66 earnings report later!
Phillips 66 Price and EPS Surprise
Phillips 66 Price and EPS Surprise | Phillips 66 Quote
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Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>