Phillips 66 Q3 GAAP EPS $0.32 vs $2.15 Q2; adjusted EPS $2.52; completes WRB buy

Phillips 66

2025-Q3 EPS reported $3.66 revenue$98,268,000,000

Q3 GAAP net earnings $133M ($0.32 diluted EPS); includes $241M pre-tax accelerated depreciation on LA Refinery.
Adjusted earnings $1,025M ($2.52 adjusted EPS); adjusted EBITDA $2,594M; Refining utilization 99% with 86% clean product yield.
Completed acquisition of remaining 50% interest in WRB Refining LP (Wood River & Borger) on Oct 1, gaining full ownership.
Net operating cash flow $1.2B ($1.9B ex-working capital); returned $751M to shareholders via buybacks ($267M) and dividends ($484M).
Advanced NGL and Chemicals projects; ceased crude processing at LA Refinery on Oct 16; Germany/Austria retail divestiture on track by year end.

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