Phillips 66 Q2 Adj. EPS $3.87 Beats $3.56 Estimate, Sales $35.74B Beat $34.55B Estimate
Portfolio Pulse from Benzinga Newsdesk
Phillips 66 reported Q2 earnings of $3.87 per share, beating the analyst consensus estimate of $3.56 by 8.71%. However, this is a 42.84% decrease from the same period last year. The company also reported quarterly sales of $35.74 billion, beating the estimate of $34.55 billion by 3.44%, but this is a 27.52% decrease from last year.
August 04, 2023 | 10:59 am
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Phillips 66 reported better than expected Q2 earnings and sales, but both figures are significantly lower than the same period last year.
While Phillips 66 beat estimates for Q2, the significant decreases in earnings and sales compared to the same period last year could potentially offset any positive impact from beating estimates. This could lead to a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100