Phillips 66 Q4 net earnings $1.3B, adj. EPS $3.09; returns $1.6B to shareholders; progress on cost savings

Phillips 66

2023-FY EPS reported $15.48 revenue$147,399,000,000

Q4 GAAP EPS $2.86; adjusted EPS $3.09; full-year adj. EPS $15.81.
Operating cash flow $2.2B in Q4; returned $1.6B via dividends and buybacks.
Refining adjusted pre-tax income $797M vs $1.74B in Q3 due to lower realized margins ($14.41/bbl vs $18.96/bbl).
Midstream adjusted pre-tax $423M, record NGL fractionation and LPG export volumes; DCP synergies $250M.
Achieved $1.2B run-rate cost savings; targeting $1.4B by end of 2024; Rodeo Renewed startup expected 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 0.98

Phillips 66 reported the quarter ended December 31, 2023 results: net income $1.3 billion, EPS $2.86 per share.

Period: the quarter ended December 31, 2023
Net income: $1.3 billion
EPS: $2.86 per share
Result: reported results

Exact text from the filing

On January 31, 2024, Phillips 66 issued a press release announcing the company's financial and operating results for the quarter ended December 31, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Phillips 66 reported the quarter ended December 31, 2023 results: net income $1.3 billion, EPS $2.86 per share.

Period: the quarter ended December 31, 2023
Net income: $1.3 billion
EPS: $2.86 per share
Result: reported results

Exact text from the filing

Phillips 66 (NYSE: PSX), a leading diversified and integrated downstream energy company, announced fourth-quarter earnings of $1.3 billion, compared with earnings of $2.1 billion in the third quarter.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Phillips 66 reported Full-Year 2023 results: net income $7.0 billion, EPS $15.48 per share.

Period: Full-Year 2023
Net income: $7.0 billion
EPS: $15.48 per share
Result: reported results

Exact text from the filing

Earnings of $7.0 billion or $15.48 per share; adjusted earnings of $7.2 billion or $15.81 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 0001534701-24-000030

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