Phillips 66 (NYSE: PSX) reported Q3 EPS of $3.10, $0.65 better than the analyst estimate of $2.45.

• Delivered record adjusted earnings per share
• Achieved Refining market capture of 94 percent
• Generated record Midstream net income from higher throughputs
• Realized strong Marketing margins
• Cash distributions from equity affiliates of $910 million; $2.1 billion year to date
• Returned $775 million to shareholders through dividends and share repurchases
• Phillips 66 Partners increased Gray Oak Pipeline capacity to 900,000 barrels per day

“We demonstrated the value of our integrated portfolio, delivering strong earnings and advancing strategic growth projects in the third quarter,” said Greg Garland, chairman and CEO of Phillips 66. “In the Central Corridor, Refining and Midstream ran at record levels, capturing favorable margins. During the quarter, we began construction of two new fractionators and additional storage at the Sweeny Hub, and we approved a new project to further expand crude oil storage at the Beaumont Terminal. The Gray Oak Pipeline project continues to progress toward a late-2019 completion, with 900,000 barrels per day of crude oil capacity.”

“Over the last six years, we have repurchased or exchanged nearly 30 percent of our initial shares outstanding, contributing to record adjusted earnings per share this quarter. We continued our commitment to shareholder distributions, returning $775 million through dividends and share repurchases in the third quarter and $5.2 billion for the year. We believe strong shareholder distributions remain fundamental to disciplined capital allocation.”

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