Phillips 66 (NYSE: PSX) reported Q1 EPS of $0.56, $0.43 better than the analyst estimate of $0.13.

• Delivered strong results in Chemicals
• Completed major turnarounds in Refining and Chemicals
• Returned $611 million to shareholders through dividends and share repurchases
• Completed first full quarter of Freeport LPG Export Terminal operations
• Construction completed on DAPL/ETCOP joint venture pipelines
• Commissioned additional crude storage at the Beaumont Terminal

“We have successfully completed several major turnarounds in Refining and Chemicals,” said Greg Garland, chairman and CEO of Phillips 66. “First-quarter earnings reflect this downtime and also highlight the benefit of a diversified portfolio. Our Chemicals business had solid results on good demand and improved margins. The Freeport LPG Export Terminal is fully operational, and we have several Midstream and Chemicals projects nearing completion. Our safety performance did not meet expectations this quarter. We remain dedicated to operating excellence, executing our Midstream and Chemicals growth strategy, enhancing returns in Refining, and returning cash to shareholders."

“We demonstrated our commitment to shareholder distributions, returning over $600 million in share repurchases and dividends during the quarter. Since our inception in 2012, we have distributed $14 billion to shareholders in the form of dividends, share repurchases and exchanges.”

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