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Jun 30, 2025
Phillips 66 Q2 2025 Earnings Report
Phillips 66 reported strong financial and operational performance in Q2 2025.
Key Takeaways
Phillips 66 achieved $33.52 billion in revenue, driven by strong refining margins and high capacity utilization, resulting in solid earnings for the quarter.
Revenue reached $33.52 billion in Q2 2025.
Net income attributable to Phillips 66 totaled $877 million.
Adjusted EPS increased to $2.38, supported by strong refining margins.
Refining utilization hit 98% with record clean product yield.
Revenue by Segment
Forward Guidance
Phillips 66 expects continued Midstream growth and stable refining performance as it advances toward 2027 targets.
Positive Outlook
- Strong Midstream growth expected post Coastal Bend acquisition.
- Dos Picos II plant startup ahead of schedule and on budget.
- Targeting increased natural gas gathering and processing capacity.
- Maintaining disciplined refining operations with low costs.
- Progressing toward 2027 strategic growth targets.
Challenges Ahead
- Higher corporate net interest expense may pressure earnings.
- Chemicals segment margins under pressure from lower sales prices.
- Renewable fuels still generating losses despite improvement.
- Asset divestitures in Germany and Austria could reduce future marketing revenues.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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