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Dec 31, 2019
Phillips 66 Q4 2019 Earnings Report
Phillips 66 reported fourth-quarter earnings, with adjusted earnings of $689 million.
Key Takeaways
Phillips 66 announced fourth-quarter earnings of $736 million, or $1.64 per share, compared to $712 million in the third quarter. Adjusted earnings were $689 million, or $1.54 per share. The company returned $810 million to shareholders through dividends and share repurchases during the quarter.
Returned $810 million to shareholders through dividends and share repurchases
Commenced initial operations on the Gray Oak Pipeline
Operated at 97% O&P utilization in Chemicals
Achieved 97% utilization in Refining
Revenue by Segment
Forward Guidance
Phillips 66 is focused on operating excellence, executing growth projects, enhancing returns on existing assets, and exercising disciplined capital allocation. They are committed to continued strong shareholder distributions through a secure, growing, competitive dividend, and repurchasing shares when they trade below intrinsic value.
Positive Outlook
- Initial startup of the Gray Oak Pipeline
- Progressing the Sweeny Hub expansion
- Progressing the Red Oak Pipeline
- Progressing the Liberty Pipeline
- Upgrading a fluid catalytic cracking (FCC) unit at the Sweeny Refinery
Challenges Ahead
- Challenging market environment
- Turnaround activity impacted financial results
- Lower propane and butane trading results
- Inventory impacts
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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