Phillips 66 Partners Reports First-Quarter 2020 Financial Results
Phillips 66 Partners LP Common Units representing limited partner interest in the Partnership (PSXP)
Last phillips 66 partners lp common units representing limited partner interest in the partnership earnings: 5/1 07:20 am
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phillips66partners.com
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Source: Business Wire
Reported earnings of $226 million and adjusted EBITDA of $321 millionAnnounced quarterly distribution of $0.875 per common unitRecently started full operations on the Gray Oak Pipeline HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners LP (NYSE: PSXP) announces first-quarter 2020 earnings of $226 million, or $0.93 per diluted common unit. Cash from operations was $274 million, and distributable cash flow was $269 million. Adjusted EBITDA was $321 million in the first quarter, compared with $345 million in the prior quarter.“We delivered solid financial results, operated our facilities reliably and safely, and advanced our projects in execution,” said Greg Garland, Phillips 66 Partners’ chairman and CEO. “We recently achieved full operations on the Gray Oak Pipeline. This is a significant milestone for PSXP and further enhances our stable portfolio of midstream assets backed by minimum volume commitments.”“Phillips 66 Partners is operating in this challenging business environment from a
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