Phillips 66 Q3 adj. EPS $4.63; raises shareholder return target to $13-15B

Phillips 66

2023-Q3 EPS reported $12.59 revenue$109,129,000,000

Q3 adjusted earnings $2.1B ($4.63/share); reported $2.1B ($4.69/share); operating cash flow $2.7B.
Shareholder distribution target increased to $13-15B from $10-12B; $5B additional share repurchase authorization; at least 50% of operating cash flow returned.
Refining pre-tax income $1.71B (adj. $1.74B) on 95% crude utilization; realized margins $18.96/bbl, up from $15.32 in Q2.
Business transformation run-rate target raised to $1.4B by end 2024; mid-cycle adj. EBITDA growth target increased to $4B by 2025.
Plans to monetize over $3B in non-core assets; Rodeo Renewed renewable fuels facility expected to start Q1 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Phillips 66 reported the quarter ended September 30, 2023 results: net income $2.1 billion, EPS $4.69 per share. Guidance raised.

Period: the quarter ended September 30, 2023
Net income: $2.1 billion
EPS: $4.69 per share
Guidance: raised
Result: reported results

Exact text from the filing

Phillips 66 Reports Third-Quarter 2023 Financial Results and Update to Strategic Priorities Third-Quarter Results • Reported third-quarter earnings of $2.1 billion or $4.69 per share; adjusted earnings of $2.1 billion or $4.63 per share

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

Phillips 66 filing history →

Source: SEC EDGAR

accession 0001534701-23-000145

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