Phillips 66 Q4 Adj. EPS $3.09 Beats $2.34 Estimate, Sales $38.74B Beat $36.50B Estimate
Portfolio Pulse from Benzinga Newsdesk
Phillips 66 (NYSE:PSX) reported Q4 adjusted earnings per share (EPS) of $3.09, surpassing the analyst consensus estimate of $2.34 by 32.05%. However, this represents a 22.75% decrease from the $4.00 EPS reported in the same quarter last year. Quarterly sales reached $38.74 billion, exceeding expectations of $36.50 billion by 6.13%, but marking a 5.30% decline from the $40.91 billion in the prior year's quarter.
January 31, 2024 | 12:03 pm
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Phillips 66 reported higher-than-expected Q4 earnings and revenue, with EPS at $3.09 against a $2.34 estimate and sales of $38.74B against a $36.50B estimate.
The positive earnings surprise and revenue beat are likely to be viewed favorably by investors in the short term, despite the year-over-year declines. Typically, stocks tend to react positively to earnings that surpass analyst estimates, which could lead to a short-term uptick in PSX's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100