Phillips 66 (PSX Quick QuotePSX - Free Report) is a diversified energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is an important asset in the portfolio.

The company operates through the four business segments, namely, Midstream, Chemicals, Refining, and Marketing and Specialties.

Currently, Phillips 66 has a Zacks Rank #5 (Strong Sell) but that could change following its second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
 
Earnings: Phillips 66 beats on earnings. Earnings per share from continuing operations (excluding special items) came in at $0.94, above the Zacks Consensus Estimate of $0.91.
 

PHILLIPS 66 Price and EPS Surprise

PHILLIPS 66 Price and EPS Surprise | PHILLIPS 66 Quote

Revenue: Revenues of $22.3 billion surpassed the Zacks Consensus Estimate of $21.3 billion.

Key Stats:

The Midstream segment generated adjusted quarterly earnings of $39 million compared with $48 million in the year-ago quarter. The Chemicals segment generated adjusted earnings of $190 million as against $295 million in the comparable quarter last year. The Refining segment generated adjusted earnings of $149 million compared with earnings of $604 million in the prior-year quarter. Marketing and Specialties (M&S) earnings were $229 million, up from $182 million reported in the comparable quarter last year.

Check back later for our full write up on this Phillips 66 earnings report later!
 
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