---
schema_version: "secwatch.filing_event.v1"
accession: "0001534701-24-000101"
form_type: "8-K"
ticker: "PSX"
cik: "0001534701"
company_name: "Phillips 66"
filed_at: "2024-04-26T23:59:59+00:00"
generated_at: "2026-06-03T06:27:18.612722+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Phillips 66 Q1 earnings $748M ($1.73 EPS) vs $1.96B year ago; adjusted EPS $1.90

## Summary
- Adjusted earnings $822M ($1.90 EPS), down from $1.97B ($4.21) in Q1 2023 and $1.36B ($2.97) in Q4 2023.
- Refining pre-tax income fell to $131M (adj. $228M) from $1.6B in Q1 2023; crude utilization 92%.
- Returned $1.6B to shareholders via $1.2B buybacks and $448M dividends; $9.9B returned since July 2022.
- Dividend raised 10% to $1.15/quarter; company on track for $1.4B cost savings by year-end 2024.
- Rodeo renewable fuels complex started producing 30,000 bpd; targeting 50,000 bpd by end of Q2 2024.

## SEC filing metadata
- accession: 0001534701-24-000101
- form_type: 8-K
- ticker: PSX
- cik: 0001534701
- company_name: Phillips 66
- filed_at: 2024-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534701/000153470124000101/0001534701-24-000101-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534701/000153470124000101/psx-20240426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001534701-24-000101
- JSON: https://secwatch.observer/filing/0001534701-24-000101.json
- Plain text: https://secwatch.observer/filing/0001534701-24-000101.txt

## Key facts
- Earnings Releases
  Phillips 66 reported quarter ended March 31, 2024 results: net income first-quarter earnings of $748 million, EPS $1.73 per share.
  - Period: quarter ended March 31, 2024
  - Net income: first-quarter earnings of $748 million
  - EPS: $1.73 per share
  - Result: reported results
  source text: Phillips 66 Reports 1Q 2024 Financial Results, Highlights Strategic Priorities Progress First-Quarter Results • First-quarter earnings of $748 million or $1.73 per share; adjusted earnings of $822 million or $1.90 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534701/000153470124000101/0001534701-24-000101-index.htm

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