Phillips 66 CEO says Elliott now backs company's performance goals [Seeking Alpha]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Seeking Alpha
Elliott has "bought into our plans that we already had in place," Lashier said in an interview The activist investor sent a letter to the Phillips 66 ( PSX ) board last fall, disclosing a $1B stake in the refining company and calling for additions to its board and a focus on improving its oil refining business; shares have since jumped by nearly a third, compared to a 15% rise in the S&P 500, but still lagging refining rivals Valero ( VLO ) and Marathon Petroleum ( MPC ) on a YTD basis. Phillips 66 ( PSX ) is ahead of schedule on a plan to buy back $6B-$8B in shares by year-end, and it remains in talks with potential buyers on a goal of raising $3B from asset sales but is in no hurry to make sales, Lashier said. The company has added one new board member and is working with Elliott to name a second director. The fundamentals for refining are quite good ," the CEO also said, expecting global demand for motor fuels will grow for years even as gasoline usage in the U.S. market b
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PSX
News
- Phillips 66 (PSX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Phillips 66 (PSX) Q1 Earnings Miss, Revenues Increase Y/Y [Yahoo! Finance]Yahoo! Finance
- Phillips 66 Reports 1Q 2024 Financial Results, Highlights Strategic Priorities Progress [Yahoo! Finance]Yahoo! Finance
- Phillips 66 Reports 1Q 2024 Financial Results, Highlights Strategic Priorities ProgressBusiness Wire
- Commodity Roundup: Oil, gold firm ahead of U.S. GDP data, natgas down [Seeking Alpha]Seeking Alpha
PSX
Earnings
- 4/26/24 - Miss
PSX
Sec Filings
- 4/26/24 - Form 8-K
- 4/22/24 - Form PX14A6G
- 4/4/24 - Form 8-K
- PSX's page on the SEC website