US refiner Phillips 66 posts bigger-than-expected quarterly loss
ReutersApr 25, 2025 11:03 AM
April 25 (Reuters) - Phillips 66 PSX.N reported a bigger-than-expected first-quarter loss on Friday, as lower refining margins amid a widespread maintenance and turnaround activity across the U.S. refining sector weighed on its performance.
The Houston, Texas-based company posted an adjusted loss of 90 cents per share for the three months ended March 31, compared with analysts' estimate of 72-cent-per-share loss, according to data compiled by LSEG.
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