Phillips 66 CEO Says Refining Margins More Lackluster Than Expected In Q2
Portfolio Pulse from Benzinga Newsdesk
Phillips 66 CEO stated that refining margins were more lackluster than expected in Q2 during the JP Morgan Conference.
June 18, 2024 | 3:24 pm
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Phillips 66 CEO stated that refining margins were more lackluster than expected in Q2, which could indicate weaker-than-anticipated earnings for the quarter.
The statement from the CEO suggests that the company's refining margins, a key component of its profitability, were below expectations. This could lead to weaker earnings for Q2, negatively impacting the stock price in the short term.
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