PSX
Phillips 66131.78
-9.73-6.88%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Key Stats
Market Cap
53.26BP/E (TTM)
35.42Basic EPS (TTM)
3.72Dividend Yield
0.03%Recent Filings
10-Q
Q3 FY2025 results
Phillips 66's Q3 2025 results showed revenues dipping 3% y/y to $34.5B amid softer crude prices, yet refining margins climbed 46% y/y to $12.15 per barrel (derived), buoyed by stronger diesel demand and low inventories, while worldwide capacity utilization hit 99%. Net income attributable to shareholders fell to $133M from $346M, pressured by a $948M impairment on the WRB equity stake ahead of its October close for $1.3B cash and $800M in accelerated Los Angeles Refinery depreciation as idling nears in Q4. Midstream earnings rose 8% y/y to $697M on Coastal Bend's April acquisition boosting NGL volumes, with operating cash flow at $2.2B YTD supporting $1.6B capex and $933M share repurchases; cash stood at $1.8B, total debt $21.8B. Chemicals lagged with 49% y/y earnings drop to $176M from polyethylene oversupply. Regulatory hurdles loom for Dakota Access pipeline operations.
8-K
Q3 earnings hit by impairments
Phillips 66 reported Q3 2025 earnings of $133 million, or $0.32 per share, dragged by $948 million in impairments tied to acquiring full ownership of WRB Refining LP's Wood River and Borger refineries on October 1. Adjusted earnings hit $1.0 billion, or $2.52 per share, fueled by record midstream fractionation at 930 MBD and refining utilization of 99% with 86% clean product yield. The LA refinery idled crude processing on October 16, signaling portfolio streamlining amid volatile margins.
8-K
8-K
8-K
Acquires full WRB Refining stake
Phillips 66 agreed to buy the remaining 50% stake in WRB Refining LP from Cenovus Energy for $1.4 billion in cash, gaining full control of the Wood River and Borger refineries. This boosts its refining capacity by 250 MBD to process heavy and sour crudes into transportation fuels. Full ownership unlocks $50 million in annual synergies through deeper integration. Closing is slated for Q4 2025.
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