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Insights Into Phillips 66 (PSX) Q2: Wall Street Projections for Key Metrics
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Wall Street analysts forecast that Phillips 66 (PSX - Free Report) will report quarterly earnings of $1.63 per share in its upcoming release, pointing to a year-over-year decline of 29.4%. It is anticipated that revenues will amount to $30.54 billion, exhibiting a decrease of 21.5% compared to the year-ago quarter.
Over the last 30 days, there has been an upward revision of 0.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain Phillips 66 metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts' assessment points toward 'Sales and other operating revenues' reaching $30.66 billion. The estimate suggests a change of -19.6% year over year.
According to the collective judgment of analysts, 'Equity in earnings of affiliates' should come in at $316.23 million. The estimate indicates a year-over-year change of -35.1%.
The average prediction of analysts places 'Revenues and Other Income- Other income' at $41.52 million. The estimate indicates a change of -28.4% from the prior-year quarter.
Analysts expect 'Revenues- Total Refining' to come in at $15.63 billion. The estimate indicates a change of +69.9% from the prior-year quarter.
The consensus among analysts is that 'Refining operations- Gulf Coast - Crude oil processed' will reach 495.27 thousands of barrels of oil per day. Compared to the current estimate, the company reported 507.00 thousands of barrels of oil per day in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Refining operations- Atlantic Basin/Europe - Crude oil capacity' should arrive at 537.00 thousands of barrels of oil per day. Compared to the present estimate, the company reported 537.00 thousands of barrels of oil per day in the same quarter last year.
The combined assessment of analysts suggests that 'Refining operations- Worldwide - Crude oil processed' will likely reach 1,751.92 thousands of barrels of oil per day. The estimate compares to the year-ago value of 1,802.00 thousands of barrels of oil per day.
Analysts forecast 'Refining operations- Atlantic Basin/Europe - Capacity utilization (percent)' to reach 94.6%. The estimate compares to the year-ago value of 98.0%.
The collective assessment of analysts points to an estimated 'Refining operations- Atlantic Basin/Europe - Crude oil processed' of 508.20 thousands of barrels of oil per day. Compared to the present estimate, the company reported 527.00 thousands of barrels of oil per day in the same quarter last year.
The consensus estimate for 'Refining operations- West Coast - Crude oil processed' stands at 228.29 thousands of barrels of oil per day. Compared to the current estimate, the company reported 227.00 thousands of barrels of oil per day in the same quarter of the previous year.
Analysts predict that the 'Refining operations- West Coast - Crude oil capacity' will reach 244.00 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 244.00 thousands of barrels of oil per day.
It is projected by analysts that the 'Refining operations- West Coast - Capacity utilization (percent)' will reach 93.6%. Compared to the current estimate, the company reported 93.0% in the same quarter of the previous year.
Shares of Phillips 66 have experienced a change of +4.2% in the past month compared to the +5.9% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), PSX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Insights Into Phillips 66 (PSX) Q2: Wall Street Projections for Key Metrics
Wall Street analysts forecast that Phillips 66 (PSX - Free Report) will report quarterly earnings of $1.63 per share in its upcoming release, pointing to a year-over-year decline of 29.4%. It is anticipated that revenues will amount to $30.54 billion, exhibiting a decrease of 21.5% compared to the year-ago quarter.
Over the last 30 days, there has been an upward revision of 0.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain Phillips 66 metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts' assessment points toward 'Sales and other operating revenues' reaching $30.66 billion. The estimate suggests a change of -19.6% year over year.
According to the collective judgment of analysts, 'Equity in earnings of affiliates' should come in at $316.23 million. The estimate indicates a year-over-year change of -35.1%.
The average prediction of analysts places 'Revenues and Other Income- Other income' at $41.52 million. The estimate indicates a change of -28.4% from the prior-year quarter.
Analysts expect 'Revenues- Total Refining' to come in at $15.63 billion. The estimate indicates a change of +69.9% from the prior-year quarter.
The consensus among analysts is that 'Refining operations- Gulf Coast - Crude oil processed' will reach 495.27 thousands of barrels of oil per day. Compared to the current estimate, the company reported 507.00 thousands of barrels of oil per day in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Refining operations- Atlantic Basin/Europe - Crude oil capacity' should arrive at 537.00 thousands of barrels of oil per day. Compared to the present estimate, the company reported 537.00 thousands of barrels of oil per day in the same quarter last year.
The combined assessment of analysts suggests that 'Refining operations- Worldwide - Crude oil processed' will likely reach 1,751.92 thousands of barrels of oil per day. The estimate compares to the year-ago value of 1,802.00 thousands of barrels of oil per day.
Analysts forecast 'Refining operations- Atlantic Basin/Europe - Capacity utilization (percent)' to reach 94.6%. The estimate compares to the year-ago value of 98.0%.
The collective assessment of analysts points to an estimated 'Refining operations- Atlantic Basin/Europe - Crude oil processed' of 508.20 thousands of barrels of oil per day. Compared to the present estimate, the company reported 527.00 thousands of barrels of oil per day in the same quarter last year.
The consensus estimate for 'Refining operations- West Coast - Crude oil processed' stands at 228.29 thousands of barrels of oil per day. Compared to the current estimate, the company reported 227.00 thousands of barrels of oil per day in the same quarter of the previous year.
Analysts predict that the 'Refining operations- West Coast - Crude oil capacity' will reach 244.00 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 244.00 thousands of barrels of oil per day.
It is projected by analysts that the 'Refining operations- West Coast - Capacity utilization (percent)' will reach 93.6%. Compared to the current estimate, the company reported 93.0% in the same quarter of the previous year.
View all Key Company Metrics for Phillips 66 here>>>Shares of Phillips 66 have experienced a change of +4.2% in the past month compared to the +5.9% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), PSX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .