Phillips 66 Posts Higher 4Q Profit

Dow Jones02-04 20:51

By Connor Hart

Phillips 66 logged a jump in fourth-quarter profit, boosted by special adjustments, to close out what Chief Executive Mark Lashier called a transformative year for the company.

The Houston-based oil refiner on Wednesday posted a profit of $2.91 billion, or $7.17 a share, compared with $8 million, or 1 cent a share, a year earlier.

The recent quarter included multiple pre-tax, special-item adjustments, including one for $2 billion in the company's marketing and specialities segment, primarily related to the partial disposition of its Germany and Austria retail-marketing business, Phillips said.

Stripping out one-time items, earnings were $2.47 a share. Analysts surveyed by FactSet had expected adjusted earnings of $2.15 a share.

Phillips' refining business operated at 99% crude capacity utilization, delivering what the company called a record clean-product yield of 88%.

Lashier said last year was transformative for Phillips, as it sold the majority of its European retail business, acquired the remaining 50% interest in WRB Refining--a U.S. refinery business it previously operated as a joint venture with Cenovus Energy--and improved its Midstream competitive position through acquisitions.

"While enhancing our portfolio to focus on our core assets and geographies, we have also taken a disciplined approach to improving operations," Lashier said. Looking ahead to 2026, Phillips plans to further pay down debt while also continuing to return cash flow to shareholders, he added.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

February 04, 2026 07:51 ET (12:51 GMT)

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Analysts surveyed by FactSet had expected adjusted earnings of $2.15 a share. \n</p>\n<p>\n  Phillips' refining business operated at 99% crude capacity utilization, delivering what the company called a record clean-product yield of 88%. \n</p>\n<p>\n  Lashier said last year was transformative for Phillips, as it sold the majority of its European retail business, acquired the remaining 50% interest in WRB Refining--a U.S. refinery business it previously operated as a joint venture with Cenovus Energy--and improved its Midstream competitive position through acquisitions. \n</p>\n<p>\n  \"While enhancing our portfolio to focus on our core assets and geographies, we have also taken a disciplined approach to improving operations,\" Lashier said. 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Looking ahead to 2026, Phillips plans to further pay down debt while also continuing to return cash flow to shareholders, he added. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 04, 2026 07:51 ET (12:51 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4138","symbol_name":"石油与天然气的炼制和营销","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2608361143","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2608361143","pubTimestamp":1770209460,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Phillips 66 logged a jump in fourth-quarter profit, boosted by special adjustments, to close out what Chief Executive Mark Lashier called a transformative year for the company.The Houston-based oil refiner on Wednesday posted a profit of $2.91 billion, or $7.17 a share, compared with $8 million, or 1 cent a share, a year earlier.The recent quarter included multiple pre-tax, special-item adjustments, including one for $2 billion in the company's marketing and specialities segment, primarily related to the partial disposition of its Germany and Austria retail-marketing business, Phillips said.Phillips' refining business operated at 99% crude capacity utilization, delivering what the company called a record clean-product yield of 88%.Lashier said last year was transformative for Phillips, as it sold the majority of its European retail business, acquired the remaining 50% interest in WRB Refining--a U.S. refinery business it previously operated as a joint venture with Cenovus Energy--and i","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4138":"石油与天然气的炼制和营销","BK4585":"ETF&股票定投概念","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4588":"碎股","IE00B3T34201.USD":"BNY MELLON GLOBAL EQUITY INCOME \"B\" (USD) INC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","PSX":"Phillips 66"},"translate_title":"Phillips 66第四季度利润更高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PSX":1.5},"content_text":"By Connor Hart \n\n\n \n\n\nPhillips 66 logged a jump in fourth-quarter profit, boosted by special adjustments, to close out what Chief Executive Mark Lashier called a transformative year for the company. \n\n\n  The Houston-based oil refiner on Wednesday posted a profit of $2.91 billion, or $7.17 a share, compared with $8 million, or 1 cent a share, a year earlier. \n\n\n  The recent quarter included multiple pre-tax, special-item adjustments, including one for $2 billion in the company's marketing and specialities segment, primarily related to the partial disposition of its Germany and Austria retail-marketing business, Phillips said. \n\n\n  Stripping out one-time items, earnings were $2.47 a share. Analysts surveyed by FactSet had expected adjusted earnings of $2.15 a share. \n\n\n  Phillips' refining business operated at 99% crude capacity utilization, delivering what the company called a record clean-product yield of 88%. \n\n\n  Lashier said last year was transformative for Phillips, as it sold the majority of its European retail business, acquired the remaining 50% interest in WRB Refining--a U.S. refinery business it previously operated as a joint venture with Cenovus Energy--and improved its Midstream competitive position through acquisitions. \n\n\n  \"While enhancing our portfolio to focus on our core assets and geographies, we have also taken a disciplined approach to improving operations,\" Lashier said. Looking ahead to 2026, Phillips plans to further pay down debt while also continuing to return cash flow to shareholders, he added. \n\n\n \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 04, 2026 07:51 ET (12:51 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2608361143","isCrawlerRequest":true}