Phillips 66 (NYSE:PSX) delivered a strong second-quarter performance, surpassing Wall Street’s earnings and revenue forecasts. The integrated energy company reported adjusted earnings of $973 million, or $2.38 per share, comfortably topping the consensus estimate of $1.69 per share.
Quarterly revenue also exceeded projections, reaching $33.52 billion against an expected $32.53 billion. GAAP earnings were $877 million, or $2.15 per share, including a $239 million pre-tax charge tied to accelerated depreciation at the Los Angeles Refinery, which is scheduled to shut down by year-end.
