Phillips 66 Q1 2024 Adj EPS $1.90 Misses $2.17 Estimate
Portfolio Pulse from Benzinga Newsdesk
Phillips 66 reported Q1 2024 adjusted earnings per share (EPS) of $1.90, missing the consensus estimate of $2.17 by 12.44%. This represents a 54.87% decrease from the $4.21 EPS reported in the same quarter last year.
April 26, 2024 | 11:01 am
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NEGATIVE IMPACT
Phillips 66's Q1 2024 earnings missed analyst expectations, reporting an EPS of $1.90 against the estimated $2.17, a significant decrease from the previous year.
The miss in earnings expectations and the significant year-over-year decline in EPS are likely to negatively impact investor sentiment towards PSX in the short term. Earnings reports are critical moments for stock evaluation, and missing estimates can lead to decreased stock prices as market expectations adjust to the new information.
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IMPORTANCE 90
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