Phillips 66 Q3 2021 Earnings Report

Phillips 66 reported improved earnings and cash generation due to strong performance in Midstream, Chemicals, Marketing and Specialties businesses, and improved Refining margins.

Key Takeaways

Phillips 66 reported third-quarter earnings of $402 million, or $0.91 per share, and adjusted earnings of $1.4 billion, or $3.18 per share. The company generated $2.2 billion of operating cash flow and delivered strong results in Midstream, Chemicals, and Marketing and Specialties, with a significant improvement in Refining realized margins.

Reported third-quarter earnings of $402 million or $0.91 per share; adjusted earnings of $1.4 billion or $3.18 per share

Generated $2.2 billion of operating cash flow; $1.4 billion excluding working capital

Delivered strong Midstream, Chemicals, and Marketing and Specialties earnings

Significant improvement in Refining realized margins

Total Revenue

$31.5B

Previous year: $16.3B

+93.1%

EPS

$3.18

Previous year: -$0.01

-31900.0%