---
schema_version: "secwatch.filing_event.v1"
accession: "0001534701-23-000030"
form_type: "8-K"
ticker: "PSX"
cik: "0001534701"
company_name: "Phillips 66"
filed_at: "2023-01-31T23:59:59+00:00"
generated_at: "2026-06-20T05:22:00.042980+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Phillips 66 Q4 net income $1.9B ($3.97 EPS); agrees to buy DCP Midstream common units for cash

## Summary
- Q4 GAAP EPS $3.97 on net income $1.9B; adjusted EPS $4.00; full-year adjusted EPS $18.79.
- Operating cash flow $4.8B in Q4; returned $1.2B to shareholders via dividends and buybacks.
- Authorized $5B increase to share repurchase program; approved $2B 2023 capital program.
- Agreement to acquire all publicly held common units of DCP Midstream; expected close Q2 2023.
- CPChem and QatarEnergy FID on $8.5B Golden Triangle Polymers and $6.0B Ras Laffan petrochemical projects.

## SEC filing metadata
- accession: 0001534701-23-000030
- form_type: 8-K
- ticker: PSX
- cik: 0001534701
- company_name: Phillips 66
- filed_at: 2023-01-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534701/000153470123000030/0001534701-23-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534701/000153470123000030/psx-20230131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001534701-23-000030
- JSON: https://secwatch.observer/filing/0001534701-23-000030.json
- Plain text: https://secwatch.observer/filing/0001534701-23-000030.txt

## Key facts
- Earnings Releases
  Phillips 66 reported Full-Year 2022 results: net income $11.0 billion, EPS $23.27 per share.
  - Period: Full-Year 2022
  - Net income: $11.0 billion
  - EPS: $23.27 per share
  - Result: reported results
  source text: Full-Year 2022 • Reported 2022 earnings of $11.0 billion or $23.27 per share; adjusted earnings of $8.9 billion or $18.79 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534701/000153470123000030/0001534701-23-000030-index.htm
- Earnings Releases
  Phillips 66 reported the quarter ended December 31, 2022 results: net income $1.9 billion, EPS $3.97 per share.
  - Period: the quarter ended December 31, 2022
  - Net income: $1.9 billion
  - EPS: $3.97 per share
  - Result: reported results
  source text: Phillips 66 Reports Fourth-Quarter 2022 Financial Results Fourth Quarter • Reported fourth-quarter earnings of $1.9 billion or $3.97 per share; adjusted earnings of $1.9 billion or $4.00 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534701/000153470123000030/0001534701-23-000030-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.