Phillips 66 Reports First-Quarter 2020 Financial Results

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Go back to Phillips 66 Reports First-Quarter 2020 Financial Results

Phillips 66 (PSX) Tops Q1 EPS by 41c

May 1, 2020 7:07 AM EDT

Phillips 66 (NYSE: PSX) reported Q1 EPS of $1.02, $0.41 better than the analyst estimate of $0.61.

Reported a first-quarter loss of $2.5 billion or $(5.66) per share; adjusted earnings of $450 million or $1.02 per shareGenerated strong underlying results in Midstream and Marketing businessesReceived industry recognition for exemplary 2019 safety performance at five refineriesSecured $3 billion in additional liquidity through term loan and senior notesAnnounced 2020 capital spending and operating cost reductionsReturned $839 million to shareholders in the quarter; suspended share repurchases in... More