---
schema_version: "secwatch.filing_event.v1"
accession: "0001534701-26-000030"
form_type: "8-K"
ticker: "PSX"
cik: "0001534701"
company_name: "Phillips 66"
filed_at: "2026-08-05T14:03:40+00:00"
generated_at: "2026-08-05T14:05:06.308049+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Phillips 66 Q2 earnings $3.8B ($9.55/sh) vs Q1 $207M; debt cut $6.6B

## Summary
- Q2 GAAP earnings $3.8B ($9.55 diluted EPS); adjusted earnings $3.8B ($9.41 adjusted EPS).
- Reduced total debt by $6.6B to $20.6B; net debt $16.5B; debt-to-capital ratio improved to 39% from 48%.
- Record NGL fractionation and LPG export volumes; Refining utilization 96% with clean product yield 86%.
- Announced Zeus Gas Plant (300 MMCFD) in Permian and Coastal Bend NGL Fractionator (100 MBD) in Corpus Christi.
- Returned $887M to shareholders via dividends ($508M) and buybacks ($379M).

## SEC filing metadata
- accession: 0001534701-26-000030
- form_type: 8-K
- ticker: PSX
- cik: 0001534701
- company_name: Phillips 66
- filed_at: 2026-08-05T14:03:40+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534701/000153470126000030/0001534701-26-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534701/000153470126000030/psx-20260805.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001534701-26-000030
- JSON: https://secwatch.observer/filing/0001534701-26-000030.json
- Plain text: https://secwatch.observer/filing/0001534701-26-000030.txt

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