Phillips 66 Partners (PSXP) Offers Q1 Guidance

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April 5, 2021 4:31 PM UTC
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Phillips 66 Partners LP (NYSE: PSXP) is providing guidance on results of operations for the first quarter of 2021 to reflect the Partnership’s decision to exit the Liberty Pipeline project and the effects of recent winter storms on asset utilization and utility costs.

Financial Data

(millions of dollars, unaudited)

Quarter Ended
March 31, 2021

Estimated Range

Low

High

Net income (loss) attributable to Phillips 66 Partners*

$

(60)

10

*Includes an estimated impairment of $180 million to $210 million related to the Liberty Pipeline project.

The Partnership has not completed its financial closing procedures for the first quarter of 2021, and actual results could vary from these preliminary estimates. Please see the information set forth below under “Cautionary Statement Regarding Forward-Looking Statements” for additional information about the preliminary first-quarter 2021 results.


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