An Earnings Beat: Phillips 66 (NYSE:PSX) (PSX) reported fourth quarter income per share of $1.07, significantly higher than the Zacks Consensus Estimate of 86 cents. Higher segment earnings from Midstream and Refining contributed to the growth.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate has seen no upward revision and nine downward revisions in the last thirty days.
Nonetheless, Phillips 66 has an impressive earnings surprise history. Before posting the earnings beat in Q4, the company delivered positive surprises in three of the prior four quarters. Overall, the company has a positive earnings surprise of 429.3% in the trailing four quarters.
Revenues: Phillips 66 posted revenues of $30,123 million, lagging the Zacks Consensus Estimate of $23,668 million. However, it compared favorably with the year-ago number of $23,668 million.
Key Stats: The Midstream segment posted quarterly income of $139 million, compared to $35 million in the year-ago quarter. The Chemicals segment reported earnings of $27 million as against $136 million in the year-earlier quarter. The Refining segment posted quarterly income of $371 million, which compared unfavorably with loss of $38 million in the prior-year quarter. This Marketing and Specialties segment recorded earnings of $123 million compared with $190 million in the year-ago quarter.
Zacks Rank: Currently, Phillips 66 carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank stocks here)
Check back later for our full write up on this Valero earnings report later!
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Phillips 66 (PSX): Free Stock Analysis Report
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