Phillips 66 (PSX) Tops Q3 EPS by 8c

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Go back to Phillips 66 (PSX) Tops Q3 EPS by 8c

Phillips 66 Reports Third-Quarter Earnings of $511 Million or $0.96 Per Share

October 28, 2016 7:01 AM EDT

Adjusted earnings of $556 million or $1.05 per share

Highlights

Marketing & Specialties delivered strong performance Refining ran at 97 percent utilization Closed sale of Whitegate Refinery Returned $508 million to shareholders through share repurchases and dividends Reduced 2016 capital guidance Phillips 66 Partners acquired Phillips 66 midstream assets in October for $1.3 billion Phillips 66 Partners raised $300 million in an August public equity offering and $1.1 billion in an October debt offering

HOUSTON--(BUSINESS... More

Phillips 66 Partners Reports Third-Quarter Earnings

October 28, 2016 7:01 AM EDT

Highlights

Finalized formation of STACK joint venture Completed acquisition of an additional 2.5 percent interest in Explorer Pipeline Increased quarterly distribution by 5 percent to $0.531 per common unit Raised $300 million from issuance of public equity Completed $1.3 billion acquisition of logistics assets from Phillips 66 and issued $1.1 billion of senior notes in October

HOUSTON--(BUSINESS WIRE)-- Phillips 66 Partners LP (NYSE: PSXP) announces third-quarter 2016 earnings of $83.1 million, or $0.57 per common unit. Cash from... More