Phillips 66 Partners (PSXP) Misses Q4 EPS by 10c

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Go back to Phillips 66 Partners (PSXP) Misses Q4 EPS by 10c

Phillips 66 Reports Fourth-Quarter Earnings of $163 Million or $0.31 Per Share

February 3, 2017 7:00 AM EST

Adjusted earnings of $83 million or $0.16 per share

Highlights

Fourth Quarter

Generated $667 million in cash from operations Returned $558 million of capital to shareholders Phillips 66 Partners acquired Phillips 66 midstream assets for $1.3 billion and raised $1.1 billion through a debt offering Restructured DCP Midstream Started up Freeport LPG Export Terminal Commissioned 1.2 million barrels of additional crude storage at the Beaumont Terminal

Full-Year 2016

Delivered earnings of $1.6 billion; operating cash flow of $3.0 billion... More

Phillips 66 Partners Reports Fourth-Quarter Earnings

February 3, 2017 7:00 AM EST

Highlights

Fourth Quarter

Delivered earnings of $98 million; adjusted EBITDA of $161 million Increased quarterly distribution 5 percent to $0.558 per common unit Completed $1.3 billion acquisition of logistics assets from Phillips 66 Acquired southeast Louisiana NGL system Started up Sacagawea Pipeline

Full-Year 2016

Increased fourth-quarter distributions per common unit by 22 percent year-over-year Completed $2.3 billion in acquisitions from Phillips 66 Executed $461 million in third-party acquisitions and organic capital spending... More