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Recap: Phillips 66 Q3 Earnings

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Benzinga Insights
·1 min read
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Shares of Phillips 66 (NYSE:PSX) fell 0.2% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 100.32% over the past year to ($0.01), which beat the estimate of ($0.79).

Revenue of $16,299,000,000 decreased by 41.31% year over year, which missed the estimate of $17,160,000,000.

Guidance

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

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

How To Listen To The Conference Call

Date: Oct 30, 2020

View more earnings on PSX

Time: 12:00 PM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Finvestor.phillips66.com%2F&eventid=2625344&sessionid=1&key=6221F4A73B55635CE545D1F67AFFB661&regTag=&sourcepage=register

Price Action

52-week high: $119.92

Company's 52-week low was at $40.04

Price action over last quarter: down 24.90%

Company Description

Phillips 66 is an independent refiner with 13 refineries that have a total throughput capacity of 2.1 million barrels per day. Its DCP Midstream joint venture holds 61 natural gas processing facilities, 12 natural gas liquids fractionation plants, and a natural gas pipeline system with 64,000 miles of pipeline. Its CPChem chemical joint venture operates facilities in the United States and the Middle East and primarily produces olefins and polyolefins. Phillips 66 also holds a 75% interest in Phillips 66 Partners after exchanging its general partner incentive distribution rights for limited partner units.

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