Phillips 66 Partners (PSXP) Reports In-Line Q1 EPS

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Go back to Phillips 66 Partners (PSXP) Reports In-Line Q1 EPS

Phillips 66 Partners Reports First-Quarter 2020 Financial Results

May 1, 2020 7:20 AM EDT

Reported earnings of $226 million and adjusted EBITDA of $321 million Announced quarterly distribution of $0.875 per common unit Recently started full operations on the Gray Oak Pipeline

HOUSTON--(BUSINESS WIRE)-- Phillips 66 Partners LP (NYSE: PSXP) announces first-quarter 2020 earnings of $226 million, or $0.93 per diluted common unit. Cash from operations was $274 million, and distributable cash flow was $269 million. Adjusted EBITDA was $321 million in the first quarter, compared with $345 million in the prior quarter.

We delivered solid financial results, operated our facilities reliably and safely, and advanced our projects in execution,... More