Phillips 66 Q4 adj EPS beats expectations on record NGL transportation, fractionation volumes

Overview

• Downstream energy provider's Q4 adjusted EPS beat analyst expectations

• Adjusted net income for Q4 beat analyst expectations

• Company achieved record NGL transportation and fractionation volumes

Outlook

• Phillips 66 announces 2026 capital budget of $2.4 bln

• Phillips 66 aims for further debt reduction in 2026

Result Drivers

• NGL VOLUMES - Achieved record NGL transportation and fractionation volumes over 1 MMBD each

• REFINING PERFORMANCE - Delivered record clean product yield of 88% and operated at 99% crude capacity utilization

• WRB ACQUISITION - Refining income benefited from acquiring the remaining interest in WRB Refining LP

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"

• Wall Street's median 12-month price target for Phillips 66 is $151.00, about 2% above its February 3 closing price of $148.09

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nBwK0SqHa

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