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An Earnings Beat: Phillips 66 (PSX - Free Report) reported first quarter income per share of $1.04, higher than the Zacks Consensus Estimate of 91 cents. Higher segment earnings from Midstream, Refining and Marketing and Specialties segment contributed to the growth.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate has seen six upward revision and two downward revisions in the last thirty days.
Nonetheless, Phillips 66 has an impressive earnings surprise history. Before posting the earnings beat in Q1, the company delivered positive surprises in all of the prior four quarters. Overall, the company has a positive earnings surprise of 450.1% in the trailing four quarters.
Revenues: Phillips 66 posted revenues of $24,046 million, lagging the Zacks Consensus Estimate of $29,227 million. However, it compared favorably with the year-ago number of $23,712 million.
Key Stats: The Midstream segment posted quarterly income of $233 million, compared to $112 million in the year-ago quarter. The Chemicals segment reported earnings of $232 million as against $181 million in the year-earlier quarter. The Refining segment posted quarterly income of $91 million compared to $259 million in the prior-year quarter. This Marketing and Specialties segment recorded earnings of $184 million compared with $141 million in the year-ago quarter.
Zacks Rank: Currently, Phillips 66 carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Valero earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Phillips 66 (PSX) Beats on Q1 Earnings
An Earnings Beat: Phillips 66 (PSX - Free Report) reported first quarter income per share of $1.04, higher than the Zacks Consensus Estimate of 91 cents. Higher segment earnings from Midstream, Refining and Marketing and Specialties segment contributed to the growth.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate has seen six upward revision and two downward revisions in the last thirty days.
Phillips 66 Price, Consensus and EPS Surprise
Phillips 66 Price, Consensus and EPS Surprise | Phillips 66 Quote
Nonetheless, Phillips 66 has an impressive earnings surprise history. Before posting the earnings beat in Q1, the company delivered positive surprises in all of the prior four quarters. Overall, the company has a positive earnings surprise of 450.1% in the trailing four quarters.
Revenues: Phillips 66 posted revenues of $24,046 million, lagging the Zacks Consensus Estimate of $29,227 million. However, it compared favorably with the year-ago number of $23,712 million.
Key Stats: The Midstream segment posted quarterly income of $233 million, compared to $112 million in the year-ago quarter. The Chemicals segment reported earnings of $232 million as against $181 million in the year-earlier quarter. The Refining segment posted quarterly income of $91 million compared to $259 million in the prior-year quarter. This Marketing and Specialties segment recorded earnings of $184 million compared with $141 million in the year-ago quarter.
Zacks Rank: Currently, Phillips 66 carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank stocks here)
Check back later for our full write up on this Valero earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>