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Sep 30, 2024

Phillips 66 Q3 2024 Earnings Report

Phillips 66 reported third-quarter earnings, highlighted by adjusted earnings, shareholder returns, achievement of business transformation savings, and asset disposition progress.

Key Takeaways

Phillips 66 reported third-quarter earnings of $346 million, or $0.82 per share, with adjusted earnings of $859 million, or $2.04 per share. The company returned $1.3 billion to shareholders through dividends and share repurchases and achieved its business transformation $1.4 billion run-rate savings target.

Reported third-quarter earnings of $346 million or $0.82 per share; adjusted earnings of $859 million or $2.04 per share

Returned $1.3 billion to shareholders through dividends and share repurchases

Achieved business transformation $1.4 billion run-rate savings target, including $1 per barrel Refining cost reduction

Progressed asset dispositions totaling $2.7 billion toward $3 billion target, including recently executed agreements

Total Revenue
$36.2B
Previous year: $40.3B
-10.3%
EPS
$2.04
Previous year: $4.63
-55.9%
Gross Profit
$2.79B
Previous year: $4.83B
-42.2%
Cash and Equivalents
$1.64B
Previous year: $3.5B
-53.2%
Free Cash Flow
$774M
Previous year: $1.83B
-57.7%
Total Assets
$75.1B
Previous year: $77.8B
-3.5%

Phillips 66

Phillips 66

Phillips 66 Revenue by Segment

Revenue & Expenses

Visualization of income flow from segment revenue to net income