Phillips 66: Q1 Earnings Snapshot
By AP News
Published - May 03, 2023, 07:33 AM ET
Last Updated - Jun 21, 2023, 11:31 PM EDT
HOUSTON (AP) — HOUSTON (AP) — Phillips 66 (PSX) on Wednesday reported first-quarter net income of $1.96 billion.
On a per-share basis, the Houston-based company said it had net income of $4.20. Earnings, adjusted for non-recurring costs, came to $4.21 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.58 per share.
The oil refiner posted revenue of $35.09 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $29.76 billion.
