The chart below shows how PSX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, PSX sees a -0.79% change in stock price 10 days leading up to the earnings, and a +1.66% change 10 days following the report. On the earnings day itself, the stock moves by -0.80%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Shareholder Value Distribution: Achieved $13.6 billion in shareholder distributions through share repurchases and dividends since July 2022, demonstrating strong commitment to returning value to shareholders.
Synergy Target Achievement: Exceeded synergy target from the DCP Midstream acquisition by capturing $500 million of run rate synergies, significantly enhancing midstream's mid-cycle adjusted EBITDA by $1.5 billion.
Record Clean Product Yields: Set record clean product yields in Q4 and for the full year, achieving 88% clean product yield in Q4, reflecting operational excellence and efficiency improvements.
Strong Cash Flow Generation: Generated $1.2 billion in operating cash flow, with $1.1 billion returned to shareholders, including $647 million in share repurchases, indicating strong cash generation capabilities.
Asset Divestiture Success: Announced $3.5 billion in asset divestitures, exceeding the initial target of $3 billion, which will be utilized to advance strategic priorities and enhance financial flexibility.
Negative
Earnings Decline Report: Reported earnings were $8,000,000 or $0.01 per share, with an adjusted loss of $61,000,000 or $0.15 per share, indicating a significant decline in profitability.
Earnings Decline Analysis: Total company adjusted earnings decreased by $920,000,000 compared to the prior quarter, reflecting a substantial drop in overall financial performance.
Chemicals Segment Profitability Decline: In Chemicals, results decreased mainly due to lower polyethylene chain margins and higher costs related to turnarounds and maintenance, negatively impacting segment profitability.
Refining Results Decline: Lower refining results primarily reflect weaker crack spreads and a full quarter of accelerated depreciation for the Los Angeles refinery, which adversely affected earnings.
Turnaround Expense Projections: Turnaround expenses for Q1 of 2025 are expected to be between $290,000,000 and $310,000,000, with full-year turnaround expenses projected to be between $500,000,000 and $550,000,000, indicating increased operational costs.
Earnings call transcript: Phillips 66 sees Q4 2024 earnings drop, outlines growth plans
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