secwatch.observer — SEC 8-K summary
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Issuer:     Phillips 66 (PSX)
CIK:        0001534701
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0001534701-24-000163
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Phillips 66 Q3 reported EPS $0.82, adjusted $2.04; earnings fall from Q2
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- Reported Q3 earnings $346M ($0.82 diluted) vs Q2 $1,015M ($2.38); adjusted earnings $859M ($2.04) vs $984M ($2.31).
- Returned $1.3B to shareholders ($800M buybacks, $477M dividends); cash from ops $1,132M.
- Achieved $1.4B run-rate cost savings target, including $1/barrel Refining cost reduction; asset dispositions $2.7B toward $3B target.
- Adjusted EBITDA $1,998M vs Q2 $2,183M; capex $358M.
- Debt-to-capital ratio 40%, net debt-to-capital 38% (vs 36% Q2); debt $19.998B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1534701/000153470124000163/0001534701-24-000163-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1534701/000153470124000163/psx-20241029.htm
  HTML page:      https://secwatch.observer/filing/0001534701-24-000163

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer