Highest-materiality recent filing
Elected Gregory J. Hayes, Charles M. Holley, Denise R. Singleton, Howard I. Ungerleider as Class II directors for three-year terms.
Phillips 66 Q1 2026 earnings $207M ($0.51 EPS); adjusted EPS $0.49, dividend raised 7%
Earnings of $207M ($0.51 diluted EPS); adjusted earnings $200M ($0.49 adjusted EPS).
Phillips 66 issues preliminary Q1 2026 guidance without specific figures in filing
Company issued guidance for Q1 2026 but has not completed financial closing procedures as of April 6, 2026.
Phillips 66 secures $2.25B term loan, boosts receivables facility to $1.75B
Borrowed $2.25B under 364-day term loan on March 18, 2026; entire amount drawn at closing.
Board increased from 14 to 16 directors; Meyers (term to 2027) and Ungerleider (term to 2026) appointed.
Phillips 66 Q4 GAAP EPS $7.17, adj. $2.47; full-year 2025 adj. EPS $6.44
Q4 reported earnings $2.9B ($7.17/diluted); adjusted earnings $1.0B ($2.47/diluted) including $239M pretax accelerated depreciation on L.A. Refinery.
Phillips 66 Q3 GAAP EPS $0.32 vs $2.15 Q2; adjusted EPS $2.52; completes WRB buy
Q3 GAAP net earnings $133M ($0.32 diluted EPS); includes $241M pre-tax accelerated depreciation on LA Refinery.
Phillips 66 expands AR securitization facility to $1.25B, extends maturity to Sept 2026
Facility size increased from $1.0B to $1.25B.
Phillips 66 subsidiary issues $2B in junior subordinated notes due 2056
$1B of 5.875% Series A and $1B of 6.200% Series B junior subordinated notes, both due 2056.
Phillips 66 to buy remaining 50% of WRB Refining JV from Cenovus for $1.4B
Acquires full ownership of Wood River (345 MBD) and Borger (149 MBD) refineries.
Court orders Phillips 66 to pay $195M exemplary damages; total $799.9M in Propel Fuels suit
Superior Court of California issued order for $195M in exemplary damages plus pre- and post-judgment interest against Phillips 66 Company subsidiary.
Phillips 66 Q2 2025 earnings $877M ($2.15/share); adjusted $973M ($2.38)
Refining ran at 98% utilization, highest since 2018; clean product yield record YTD.
Hearne, Pease, Cornelius, Heim elected to Phillips 66 board; declassification proposal rejected
Four Class I directors elected: Hearne (mgmt), Pease (mgmt), Cornelius (Elliott), Heim (Elliott).
Robert W. Pease and Nigel Hearne elected as Phillips 66 nominees; John E. Lowe and Howard Ungerleider not re-elected.
Phillips 66 to divest 65% stake in Germany/Austria JET retail for ~€2.5B enterprise value
Enterprise value ~€2.5B ($2.8B); pre-tax cash proceeds ~€1.5B ($1.6B) after adjustments.
Phillips 66 Q1 adjusted loss $368M; reported earnings $487M on $2.0B asset sale proceeds
Reported Q1 earnings $487M ($1.18 diluted EPS); adjusted loss $368M ($0.90 loss per share).
Phillips 66 completes $2.2B EPIC NGL acquisition; expands pipeline capacity
Completed $2.2B cash acquisition of EPIC NGL, including 170 MBD fractionators, 350-mile purity lines, and 885-mile NGL pipeline.
Elliott Associates nominates directors and proposes annual election policy at Phillips 66
Elliott Associates submitted notice on Feb 13, 2025, nominating director candidates for the 2025 Annual Meeting.
Two Phillips 66 directors not standing for reelection; board to shrink to 12
Gary K. Adams and Denise L. Ramos will not stand for reelection at 2025 annual meeting.
Phillips 66 Q4 earnings $8M, adjusted loss $61M; full-year adj. EPS $6.15
Q4 net earnings $8M ($0.01 diluted EPS); adjusted loss of $61M (-$0.15/sh) after $230M LA refinery accelerated depreciation.
Phillips 66 to acquire EPIC NGL for $2.2B cash
Base purchase price $2.2B in cash; subject to customary adjustments for working capital, debt, etc.
Phillips 66 Q3 reported EPS $0.82, adjusted $2.04; earnings fall from Q2
Reported Q3 earnings $346M ($0.82 diluted) vs Q2 $1,015M ($2.38); adjusted earnings $859M ($2.04) vs $984M ($2.31).
Jury awards Propel Fuels $604.9M in trade-secret lawsuit against Phillips 66 subsidiary
Jury returned $604.9M compensatory damages verdict against Phillips 66 Company for misappropriation of trade secrets in renewable fuels business.
Phillips 66 to shut LA-area refinery in Q4 2025; 600 employees, 300 contractors affected
Ceasing operations at Los Angeles-area refinery in Q4 2025; 600 employees and 300 contractors impacted.
Phillips 66 agrees to sell 49% stake in Coop Mineraloel AG for ~$1.24B cash
Cash consideration of 1.06B Swiss francs (~$1.24B) including assumed 2024 dividend of 60M francs.
Phillips 66 appoints Grace Puma Whiteford to Board, increasing size to 14 directors
Board increased from 13 to 14 directors; Whiteford appointed effective Oct 10, 2024.
Phillips 66 enters $500M accounts receivable securitization facility
364-day $500M facility through SPE Phillips 66 Receivables LLC, guaranteed by Phillips 66.
Phillips 66 subsidiary launches $1.8B senior notes offering; rates 4.95%-5.50%
Phillips 66 Company issued $600M each of 5.250% notes due 2031 (additional), 4.950% due 2035, and 5.500% due 2055.
Phillips 66 reports Q2 2024 earnings of $1.0 billion, or $2.38 per share
Second-quarter earnings of $1.0 billion, or $2.38 per share; adjusted earnings of $984 million, or $2.31 per share
Phillips 66 shareholders elect four Class III directors and approve advisory compensation
Directors Julie L. Bushman, Lisa A. Davis, Mark E. Lashier, Douglas T. Terreson elected with over 89% of votes cast.
Phillips 66 EVP Midstream & Chemicals Tim Roberts retiring June 1; Don Baldridge to succeed
Tim Roberts, EVP Midstream & Chemicals, to retire effective June 1, 2024.
Phillips 66 Q1 earnings $748M ($1.73 EPS) vs $1.96B year ago; adjusted EPS $1.90
Adjusted earnings $822M ($1.90 EPS), down from $1.97B ($4.21) in Q1 2023 and $1.36B ($2.97) in Q4 2023.
On February 12, 2025, Gary K. Adams and Denise L. Ramos each informed the Board of Directors (the “Board”) of Phillips 66 (the “Company”) of their intent not to stand for reelection to the Board at the Company’s 2025 Annual Meeting of Shareholders (the “Annual Meeting”).
On February 12, 2025, Gary K. Adams and Denise L. Ramos each informed the Board of Directors (the “Board”) of Phillips 66 (the “Company”) of their intent not to stand for reelection to the Board at the Company’s 2025 Annual Meeting of Shareholders (the “Annual Meeting”).
On October 10, 2024, the Board of Directors (the “Board”) of Phillips 66 (the “Company”), increased the size of the Board from 13 directors to 14 directors, and appointed Grace Puma Whiteford to serve on the Board, effective immediately.
On April 26, 2024, Timothy D. Roberts, Executive Vice President, Midstream and Chemicals of Phillips 66 (the “Company”) provided notice to the Company that he intends to retire, effective June 1, 2024.
Max materiality 0.90 · Median 0.72 · Most common event earnings