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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 first quarter 2017 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Phillips 66 beats on earnings. Earnings per share from continuing operations (excluding special items) came in at $0.56, above the Zacks Consensus Estimate of $0.03.
Revenue: Revenues of $23.7 billion came above the Zacks Consensus Estimate of $22.3 billion.
Key Stats:
The Midstream segment generated adjusted quarterly earnings of $77 million compared with $65 million in the year-ago quarter. The Chemicals segment generated adjusted earnings of $181 million as against $156 million in the comparable quarter last year. The Refining segment generated adjusted earnings of $259 million compared with earnings of $86 million in the prior-year quarter. Marketing and Specialties (M&S) earnings were $141 million, down from $205 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) Beats Q1 Earnings & Revenue
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 first quarter 2017 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Phillips 66 Price and EPS Surprise
Phillips 66 Price and EPS Surprise | Phillips 66 Quote
Earnings: Phillips 66 beats on earnings. Earnings per share from continuing operations (excluding special items) came in at $0.56, above the Zacks Consensus Estimate of $0.03.
Revenue: Revenues of $23.7 billion came above the Zacks Consensus Estimate of $22.3 billion.
Key Stats:
The Midstream segment generated adjusted quarterly earnings of $77 million compared with $65 million in the year-ago quarter. The Chemicals segment generated adjusted earnings of $181 million as against $156 million in the comparable quarter last year. The Refining segment generated adjusted earnings of $259 million compared with earnings of $86 million in the prior-year quarter. Marketing and Specialties (M&S) earnings were $141 million, down from $205 million reported in the comparable quarter last year.
Check back later for our full write up on this Phillips 66 earnings report later!
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
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