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Countdown to Phillips 66 (PSX) Q1 Earnings: A Look at Estimates Beyond Revenue and EPS
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Wall Street analysts forecast that Phillips 66 (PSX - Free Report) will report quarterly loss of -$0.55 per share in its upcoming release, pointing to a year-over-year increase of 38.9%. It is anticipated that revenues will amount to $29.53 billion, exhibiting a decrease of 6.9% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 26.6% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Phillips 66 metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Revenues and Other Income- Sales and other operating revenues' will reach $25.29 billion. The estimate points to a change of -16.9% from the year-ago quarter.
Analysts' assessment points toward 'Revenues and Other Income- Equity in earnings of affiliates' reaching $220.76 million. The estimate indicates a change of +44.3% from the prior-year quarter.
Based on the collective assessment of analysts, 'Refining Margins - Worldwide (Per Barrel)' should arrive at $6.97 . Compared to the current estimate, the company reported $6.81 in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Refining Margins - Western/Pacific (Per Barrel)' of $12.28 . Compared to the current estimate, the company reported $7.12 in the same quarter of the previous year.
The consensus among analysts is that 'Refining Margins - Central Corridor (Per Barrel)' will reach $6.04 . Compared to the present estimate, the company reported $8.29 in the same quarter last year.
According to the collective judgment of analysts, 'Refining Margins - Gulf Coast (Per Barrel)' should come in at $6.02 . Compared to the present estimate, the company reported $4.43 in the same quarter last year.
The consensus estimate for 'Refining Margins - Atlantic Basin/Europe (Per Barrel)' stands at $8.23 . The estimate is in contrast to the year-ago figure of $7.08 .
The average prediction of analysts places 'Refining operations - Gulf Coast - Crude oil capacity' at 541.00 thousands of barrels of oil per day. Compared to the present estimate, the company reported 529.00 thousands of barrels of oil per day in the same quarter last year.
Analysts forecast 'Refining operations - Gulf Coast - Crude oil processed' to reach 516.82 thousands of barrels of oil per day. Compared to the current estimate, the company reported 369.00 thousands of barrels of oil per day in the same quarter of the previous year.
It is projected by analysts that the 'Refining operations - Gulf Coast - Capacity utilization (percent)' will reach 95.5%. Compared to the current estimate, the company reported 70.0% in the same quarter of the previous year.
Analysts expect 'Refining operations - Central Corridor - Crude oil capacity' to come in at 793.00 thousands of barrels of oil per day. The estimate compares to the year-ago value of 531.00 thousands of barrels of oil per day.
The combined assessment of analysts suggests that 'Refining operations - Central Corridor - Crude oil processed' will likely reach 744.52 thousands of barrels of oil per day. Compared to the current estimate, the company reported 521.00 thousands of barrels of oil per day in the same quarter of the previous year.
Shares of Phillips 66 have experienced a change of -11.2% in the past month compared to the +12.8% move of the Zacks S&P 500 composite. With a Zacks Rank #1 (Strong Buy), PSX is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Countdown to Phillips 66 (PSX) Q1 Earnings: A Look at Estimates Beyond Revenue and EPS
Wall Street analysts forecast that Phillips 66 (PSX - Free Report) will report quarterly loss of -$0.55 per share in its upcoming release, pointing to a year-over-year increase of 38.9%. It is anticipated that revenues will amount to $29.53 billion, exhibiting a decrease of 6.9% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 26.6% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Phillips 66 metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Revenues and Other Income- Sales and other operating revenues' will reach $25.29 billion. The estimate points to a change of -16.9% from the year-ago quarter.
Analysts' assessment points toward 'Revenues and Other Income- Equity in earnings of affiliates' reaching $220.76 million. The estimate indicates a change of +44.3% from the prior-year quarter.
Based on the collective assessment of analysts, 'Refining Margins - Worldwide (Per Barrel)' should arrive at $6.97 . Compared to the current estimate, the company reported $6.81 in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Refining Margins - Western/Pacific (Per Barrel)' of $12.28 . Compared to the current estimate, the company reported $7.12 in the same quarter of the previous year.
The consensus among analysts is that 'Refining Margins - Central Corridor (Per Barrel)' will reach $6.04 . Compared to the present estimate, the company reported $8.29 in the same quarter last year.
According to the collective judgment of analysts, 'Refining Margins - Gulf Coast (Per Barrel)' should come in at $6.02 . Compared to the present estimate, the company reported $4.43 in the same quarter last year.
The consensus estimate for 'Refining Margins - Atlantic Basin/Europe (Per Barrel)' stands at $8.23 . The estimate is in contrast to the year-ago figure of $7.08 .
The average prediction of analysts places 'Refining operations - Gulf Coast - Crude oil capacity' at 541.00 thousands of barrels of oil per day. Compared to the present estimate, the company reported 529.00 thousands of barrels of oil per day in the same quarter last year.
Analysts forecast 'Refining operations - Gulf Coast - Crude oil processed' to reach 516.82 thousands of barrels of oil per day. Compared to the current estimate, the company reported 369.00 thousands of barrels of oil per day in the same quarter of the previous year.
It is projected by analysts that the 'Refining operations - Gulf Coast - Capacity utilization (percent)' will reach 95.5%. Compared to the current estimate, the company reported 70.0% in the same quarter of the previous year.
Analysts expect 'Refining operations - Central Corridor - Crude oil capacity' to come in at 793.00 thousands of barrels of oil per day. The estimate compares to the year-ago value of 531.00 thousands of barrels of oil per day.
The combined assessment of analysts suggests that 'Refining operations - Central Corridor - Crude oil processed' will likely reach 744.52 thousands of barrels of oil per day. Compared to the current estimate, the company reported 521.00 thousands of barrels of oil per day 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 -11.2% in the past month compared to the +12.8% move of the Zacks S&P 500 composite. With a Zacks Rank #1 (Strong Buy), PSX is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .