Phillips 66 Beats Estimates as Refining Margins Rebound From 2024 Lows ...Middle East

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Phillips 66 Beats Estimates as Refining Margins Rebound From 2024 Lows
source : OILPRICE ( Middle East ) () 12
Houston, Texas-based refiner Phillips 66 (NYSE:PSX) has exceeded Wall Street estimates for the fourth quarter as U.S. refining margins posted a strong rebound from 2024 lows. Phillips posted Q4 EPS of $2.47, $0.32 above the Wall Street consensus, while fourth quarter earnings of $2.91 billion represented a big jump from third quarter earnings of $133 million, and also generated $2.8 billion of net operating cash flow. Refinery margins for the quarter, measured by the 3-2-1 crack spread, improved 45% Y/Y on average thanks to a rebound in product…

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