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Phillips 66 Partners: Q1 Earnings Insights

Benzinga Insights

Shares of Phillips 66 Partners (NYSE:PSXP) rose 1.1% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 1.09% year over year to $0.93, which were in line with the estimate of $0.93.

Revenue of $404,000,000 less by 4.49% from the same period last year, which missed the estimate of $411,790,000.

Guidance

Phillips 66 Partners hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: May 01, 2020

View more earnings on PSXP

Webcast URL: https://unitholder.phillips66partners.com/events-and-presentations/event-details/2020/Phillips-66-Partners-to-host-First-Quarter-Earnings-Conference-Call/default.aspx

Technicals

52-week high: $65.22

Company's 52-week low was at $19.00

Price action over last quarter: down 27.94%

Company Profile

Phillips 66 Partners is a master limited partnership that provides fee-based transportation, processing, storage, and fractionation services primarily to Phillips 66, which owns a 74% limited partner interest. Phillips 66 Partners' primary revenue sources are long-term, fee-based contracts to handle crude, natural gas liquids, and refined products. Phillips 66 manages and operates Phillips 66 Partners as its noneconomic general partner. Phillips 66's general partner economic interest and incentive distribution rights were eliminated in August 2019.

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