Phillips 66 posts surprise profit on higher refining margins [BNN Bloomberg (Canada)]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: BNN Bloomberg
U.S. Gulf Coast refiners are reaping their strongest margins in years, as disruptions to Middle Eastern oil flows due to the Iran war have driven up demand for U.S. fuel exports. U.S. refiners, which are less dependent on Middle Eastern crude, have been expanding international sales from the U.S. Gulf Coast hub. Quarterly U.S. refinery margins, measured by the 3-2-1 crack spread CL321-1=R, were up about 73 per cent on average in the first quarter from a year earlier. Phillips 66's realized margin rose to US$10.11 per barrel in the quarter, compared with US$6.81 per barrel a year earlier. The company's refining segment reported adjusted earnings of US$208 million, compared with a loss of US$937 million a year earlier. Shares of the company were up 2.2 per cent in premarket trading. But as a result of a sharp increase in commodity prices during the first quarter, the company's financial results were impacted. It recorded US$839 million in mark-to-market losses, related to
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News
- Phillips 66 Q1 2026 earnings beat on higher refining margins [Yahoo! Finance]Yahoo! Finance
- Phillips 66 Reports First-Quarter Results: Expanded Capacity and Continued Strong Operations [Yahoo! Finance]Yahoo! Finance
- Phillips 66 Reports First-Quarter Results: Expanded Capacity and Continued Strong OperationsBusiness Wire
- Phillips 66 (PSX) was upgraded by Zacks Research from "hold" to "strong-buy".MarketBeat
- Answering all your N.J. gas and oil questions as Iran war rolls on: expert analysis [Yahoo! Finance]Yahoo! Finance
PSX
Earnings
- 4/29/26 - Beat
PSX
Sec Filings
- 4/29/26 - Form 8-K
- 4/6/26 - Form 8-K
- 4/3/26 - Form 4
- PSX's page on the SEC website