
Phillips 66 reported first-quarter adjusted earnings of $200 million or $0.49 per share, with refining operating at 95% capacity utilization and an 87% clean product yield.
Bullish
Phillips 66 is expanding NGL and LPG capacity, advancing strategic projects like the Western Gateway Pipeline, and increased its quarterly dividend by 7% with $6.0 billion liquidity.
Bearish
Phillips 66's first-quarter adjusted earnings decreased to $200 million, impacted by lower Midstream and Refining segment income, and its Debt-to-Capital Ratio increased to 48%.