Phillips 66 Partners (PSXP) Tops Q2 EPS by 1c
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Go back to Phillips 66 Partners (PSXP) Tops Q2 EPS by 1c
July 29, 2016 7:00 AM EDT
Highlights
Acquired the remaining 75 percent interest in Phillips 66s Sweeny NGL
fractionator and associated storage caverns, along with the Standish
Pipeline
Issued 12.65 million units of public equity in May for net proceeds of
$656 million
Increased quarterly distribution by 5 percent to $0.505 per common unit
HOUSTON--(BUSINESS WIRE)--
Phillips 66 Partners LP (NYSE: PSXP) announces second-quarter 2016
earnings of $67.5 million, or $0.51 per common unit. Cash from
operations was $94.6 million, distributable cash flow was $84.4 million
and adjusted earnings before interest, income taxes, depreciation and... More
July 29, 2016 7:00 AM EDT
Adjusted earnings of $499 million or $0.94 per share
Highlights
Refining achieved 100 percent utilization
Strong Marketing sales volumes and margins
Improved Chemicals margins
Cash from operations of $1.2 billion
Cash proceeds of $656 million from Phillips 66 Partners equity offering
Increased quarterly dividend by 12.5 percent
HOUSTON--(BUSINESS WIRE)--
Phillips 66 (NYSE: PSX), an energy manufacturing and logistics company,
announces second-quarter earnings of $496 million, compared... More
