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Jun 30, 2020
Phillips 66 Q2 2020 Earnings Report
Reported a loss impacted by the global pandemic and weak margins, but strategic milestones were achieved.
Key Takeaways
Phillips 66 reported a second-quarter 2020 loss of $141 million, or $0.33 per share, compared to a loss of $2.5 billion in the first quarter of 2020. Adjusted loss was $324 million, or $0.74 per share. The company generated $764 million in operating cash flow and reached milestones, including full operations on the Gray Oak Pipeline and the first export cargo loaded at the South Texas Gateway Terminal.
Reported a second-quarter loss of $141 million or $0.33 per share; adjusted loss of $324 million or $0.74 per share.
Generated $764 million of operating cash flow.
Started full operations on the Gray Oak Pipeline.
Reached milestone at South Texas Gateway Terminal with first export cargo loaded in July.
Forward Guidance
No specific forward guidance was provided in the release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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