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Dec 31, 2020
Phillips 66 Q4 2020 Earnings Report
Phillips 66 reported a fourth-quarter loss with adjusted loss impacted by challenging market conditions and higher turnaround and maintenance activity.
Key Takeaways
Phillips 66 reported a fourth-quarter 2020 loss of $539 million, or $1.23 per share. Adjusted loss was $507 million, or $1.16 per share. The company generated $639 million in operating cash flow and completed several expansion projects.
Reported a fourth-quarter loss of $539 million or $1.23 per share; adjusted loss of $507 million or $1.16 per share
Generated operating cash flow of $639 million
Completed Sweeny Hub Phase 2 expansion and the fourth dock at Beaumont Terminal
Operated at 101% O&P utilization in Chemicals
Phillips 66
Phillips 66
Forward Guidance
Phillips 66 is optimistic about the impact of the COVID-19 vaccines on the economic recovery, as well as opportunities for value creation across our portfolio, including investments in a lower-carbon future. The company remains committed to disciplined capital allocation and a strong balance sheet.
Positive Outlook
- Impact of COVID-19 vaccines on the economic recovery
- Opportunities for value creation across our portfolio
- Investments in a lower-carbon future
- Disciplined capital allocation
- Strong balance sheet