Stock Track | Phillips 66 Soars 5.04% Intraday on Strong Q4 Earnings Beat and Rebounding Refining Margins

Stock Track03:25

Phillips 66 (PSX) stock is soaring 5.04% intraday on Wednesday, driven by the company's release of better-than-expected fourth-quarter financial results.

The downstream energy provider reported adjusted earnings per share of $2.47, surpassing the analyst consensus estimate of $2.16. Quarterly revenue reached $36.33 billion, also beating expectations. The results mark a significant swing from a loss in the prior-year period, lifted by a rebound in U.S. refining margins from multi-year lows.

Operational achievements supported the strong performance, including record NGL transportation and fractionation volumes, and refining crude capacity utilization of 99%. The company's realized margin more than doubled in the quarter. Management cited a transformative year, including portfolio enhancements and debt reduction, as factors contributing to the robust quarterly finish.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment