Phillips 66 (PSX) Tops Q3 EPS by 8c

October 28, 2016 7:05 AM EDT
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Phillips 66 (NYSE: PSX) reported Q3 EPS of $0.96, $0.08 better than the analyst estimate of $0.88.

"Our earnings during the third quarter reflect the benefit of our diversified portfolio. We generated $1.2 billion in cash from operations and a Phillips 66 Partners equity offering," said Greg Garland, chairman and CEO of Phillips 66. "This year we are delivering record operational excellence results, managing costs, executing our major projects and maintaining disciplined capital allocation. We have lowered our forecasted 2016 capital expenditures to approximately $3 billion."

"We continue to grow our Midstream business, including our MLP. This year, Phillips 66 Partners has raised more than $2 billion in the capital markets to fund its growth," said Garland.

For earnings history and earnings-related data on Phillips 66 (PSX) click here.

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