---
schema_version: "secwatch.filing_event.v1"
accession: "0001534701-26-000003"
form_type: "8-K"
ticker: "PSX"
cik: "0001534701"
company_name: "Phillips 66"
filed_at: "2026-02-04T23:59:59+00:00"
generated_at: "2026-05-16T04:54:42.000448+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Phillips 66 Q4 GAAP EPS $7.17, adj. $2.47; full-year 2025 adj. EPS $6.44

## Summary
- Q4 reported earnings $2.9B ($7.17/diluted); adjusted earnings $1.0B ($2.47/diluted) including $239M pretax accelerated depreciation on L.A. Refinery.
- Full-year 2025 earnings $4.4B ($10.79/diluted); adjusted $2.6B ($6.44) including $964M pretax accelerated depreciation.
- Record NGL transportation and fractionation volumes over 1 MMBD each; record clean product yield 88%, Refining crude utilization 99%.
- Generated $2.8B Q4 operating cash flow; reduced debt by $2.0B to $19.7B; returned $3.1B to shareholders in 2025 (50%+ of operating cash flow).
- Acquired remaining 50% of WRB Refining; sold 65% interest in Germany/Austria retail; announced 2026 capex $2.4B; agreed to acquire Lindsey Oil Refinery.

## SEC filing metadata
- accession: 0001534701-26-000003
- form_type: 8-K
- ticker: PSX
- cik: 0001534701
- company_name: Phillips 66
- filed_at: 2026-02-04T23:59:59+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/1534701/000153470126000003/0001534701-26-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534701/000153470126000003/psx-20260204.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001534701-26-000003
- JSON: https://secwatch.observer/filing/0001534701-26-000003.json
- Plain text: https://secwatch.observer/filing/0001534701-26-000003.txt

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