Phillips 66 reported second-quarter revenue of $52.04 billion, a 55.3% year-over-year increase that topped the Zacks Consensus Estimate by 43.88%. Earnings per share came in at $9.41, up from $2.38 a year ago and 22.53% above the consensus of $7.68. Key refining margins included worldwide per-barrel margins of $24.08 versus the $23.15 estimate, while Western/Pacific margins reached $29.65 against a $19.93 forecast. Sales and other operating revenues hit $51 billion, exceeding the $35.95 billion estimate, and equity in earnings of affiliates surged 315% year-over-year to $635 million.
Phillips 66Q2 revenue and EPS beat estimates, with strong refining margins.
