---
schema_version: "secwatch.filing_event.v1"
accession: "0001534701-25-000153"
form_type: "8-K"
ticker: "PSX"
cik: "0001534701"
company_name: "Phillips 66"
filed_at: "2025-10-29T23:59:59+00:00"
generated_at: "2026-05-17T01:38:42.573423+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001534701-25-000153
- form_type: 8-K
- ticker: PSX
- cik: 0001534701
- company_name: Phillips 66
- filed_at: 2025-10-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534701/000153470125000153/0001534701-25-000153-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534701/000153470125000153/psx-20251029.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001534701-25-000153
- JSON: https://secwatch.observer/filing/0001534701-25-000153.json
- Plain text: https://secwatch.observer/filing/0001534701-25-000153.txt

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