---
schema_version: "secwatch.filing_event.v1"
accession: "0001534701-23-000115"
form_type: "8-K"
ticker: "PSX"
cik: "0001534701"
company_name: "Phillips 66"
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T13:19:45.805151+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Phillips 66 Q2 2023 adj. EPS $3.87; Refining down; completes $3.8B DCP deal

## Summary
- Q2 reported earnings $1.7B ($3.72/diluted share); adjusted earnings $1.8B ($3.87/share), down from Q1 adjusted $2.0B.
- Refining pre-tax income fell to $1,134M from $1,608M QoQ; realized margin dropped to $15.32/bbl from $20.72.
- Completed $3.8B acquisition of DCP Midstream LP public units on June 15; expects $1B annual EBITDA and >$400M synergies by 2025.
- Marketing & Specialties pre-tax income rose to $644M from $426M QoQ on higher global marketing margins.
- Returned $1.8B to shareholders ($1.3B buybacks, $474M dividends); $5.4B returned since July 2022 toward $10-12B target.

## SEC filing metadata
- accession: 0001534701-23-000115
- form_type: 8-K
- ticker: PSX
- cik: 0001534701
- company_name: Phillips 66
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1534701/000153470123000115/0001534701-23-000115-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534701/000153470123000115/psx-20230802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001534701-23-000115
- JSON: https://secwatch.observer/filing/0001534701-23-000115.json
- Plain text: https://secwatch.observer/filing/0001534701-23-000115.txt

## Key facts
- Earnings Releases
  Phillips 66 reported second-quarter 2023 results: net income $1.7 billion, EPS $3.72 per share.
  - Period: second-quarter 2023
  - Net income: $1.7 billion
  - EPS: $3.72 per share
  - Result: reported results
  source text: Phillips 66 Reports Second-Quarter 2023 Financial Results • Reported second-quarter earnings of $1.7 billion or $3.72 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534701/000153470123000115/0001534701-23-000115-index.htm

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