Report
Allen Good
EUR 100.00 For Business Accounts Only

Phillips 66 Stung by Weak Refining Environment, but Outlook Favorable

Phillips 66 reported first-quarter adjusted earnings that fell to $187 million from $512 million a year ago as a weak refining market environment weighed on earnings. The refining segment posted a $219 million loss for the quarter compared with $110 million of adjusted earnings last year on a combination of narrower crude spreads, weak product margins, and downtime from planned and unplanned maintenance. The company's other segments fared slightly better. Chemical adjusted earnings fell to $227 ...
Underlying
Phillips 66

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company's segments include: Midstream, which provides crude oil and refined petroleum product transportation, terminaling and processing services, as well as natural gas and natural gas liquids transportation, storage, processing and marketing services; Chemicals, which manufactures and markets petrochemicals and plastics on a worldwide basis; Refining, which refines crude oil and other feedstocks into petroleum products; and Marketing and Specialties, which purchases for resale and markets refined petroleum products, mainly in the United States and Europe.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Allen Good

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