Phillips 66 Partners (PSXP) Tops Q4 EPS by 10c
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Phillips 66 Partners Reports Fourth-Quarter 2019 Earnings
January 31, 2020 7:20 AM ESTHighlights
Fourth Quarter
- Achieved record earnings of $255 million and adjusted EBITDA of $345 million
- Increased quarterly distribution to $0.875 per common unit
- Commenced initial operations on the Gray Oak Pipeline
Full-Year 2019
- Reported record earnings of $923 million and adjusted EBITDA of $1.3 billion
- Completed the Bayou Bridge pipeline extension, the Lake Charles isomerization unit and the Lake Charles pipeline projects
- Eliminated general partners incentive distribution rights
- Increased quarterly distribution 11% year over year
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