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Phillips 66 (PSX) Q2 Earnings Preview: What You Should Know Beyond the Headline Estimates
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Analysts on Wall Street project that Phillips 66 (PSX - Free Report) will announce quarterly earnings of $7.68 per share in its forthcoming report, representing an increase of 222.7% year over year. Revenues are projected to reach $36.17 billion, increasing 7.9% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 20.9% 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield 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 expect 'Revenues and Other Income- Sales and other operating revenues' to come in at $35.95 billion. The estimate indicates a change of +7.9% from the prior-year quarter.
The consensus among analysts is that 'Revenues and Other Income- Equity in earnings of affiliates' will reach $386.78 million. The estimate points to a change of +152.8% from the year-ago quarter.
It is projected by analysts that the 'Total sales and other operating revenues- Renewable Fuels' will reach $855.36 million. The estimate points to a change of -47% from the year-ago quarter.
Analysts predict that the 'Refining Margins - Western/Pacific (Per Barrel)' will reach $19.93 . The estimate is in contrast to the year-ago figure of $14.06 .
The combined assessment of analysts suggests that 'Refining Margins - Worldwide (Per Barrel)' will likely reach $23.15 . Compared to the present estimate, the company reported $11.25 in the same quarter last year.
According to the collective judgment of analysts, 'Refining Margins - Atlantic Basin/Europe (Per Barrel)' should come in at $19.77 . Compared to the present estimate, the company reported $8.16 in the same quarter last year.
The collective assessment of analysts points to an estimated 'Refining Margins - Gulf Coast (Per Barrel)' of $22.42 . Compared to the current estimate, the company reported $8.71 in the same quarter of the previous year.
Analysts' assessment points toward 'Refining Margins - Central Corridor (Per Barrel)' reaching $26.35 . Compared to the present estimate, the company reported $15.61 in the same quarter last year.
Based on the collective assessment of analysts, 'Chemicals - CPChem Externally Marketed Sales Volumes' should arrive at 5433 millions of pounds. Compared to the current estimate, the company reported 6128 millions of pounds in the same quarter of the previous year.
The average prediction of analysts places 'Refining operations - Central Corridor - Capacity utilization (percent)' at 95.1%. The estimate compares to the year-ago value of 104.0%.
The consensus estimate for 'Refining operations - Central Corridor - Crude oil processed' stands at 754.31 thousands of barrels of oil per day. Compared to the present estimate, the company reported 550.00 thousands of barrels of oil per day in the same quarter last year.
Analysts forecast 'Refining operations - Central Corridor - Crude oil capacity' to reach 793.00 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 531.00 thousands of barrels of oil per day.
Shares of Phillips 66 have demonstrated returns of +20% over the past month compared to the Zacks S&P 500 composite's +0.2% change. 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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Phillips 66 (PSX) Q2 Earnings Preview: What You Should Know Beyond the Headline Estimates
Analysts on Wall Street project that Phillips 66 (PSX - Free Report) will announce quarterly earnings of $7.68 per share in its forthcoming report, representing an increase of 222.7% year over year. Revenues are projected to reach $36.17 billion, increasing 7.9% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 20.9% 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield 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 expect 'Revenues and Other Income- Sales and other operating revenues' to come in at $35.95 billion. The estimate indicates a change of +7.9% from the prior-year quarter.
The consensus among analysts is that 'Revenues and Other Income- Equity in earnings of affiliates' will reach $386.78 million. The estimate points to a change of +152.8% from the year-ago quarter.
It is projected by analysts that the 'Total sales and other operating revenues- Renewable Fuels' will reach $855.36 million. The estimate points to a change of -47% from the year-ago quarter.
Analysts predict that the 'Refining Margins - Western/Pacific (Per Barrel)' will reach $19.93 . The estimate is in contrast to the year-ago figure of $14.06 .
The combined assessment of analysts suggests that 'Refining Margins - Worldwide (Per Barrel)' will likely reach $23.15 . Compared to the present estimate, the company reported $11.25 in the same quarter last year.
According to the collective judgment of analysts, 'Refining Margins - Atlantic Basin/Europe (Per Barrel)' should come in at $19.77 . Compared to the present estimate, the company reported $8.16 in the same quarter last year.
The collective assessment of analysts points to an estimated 'Refining Margins - Gulf Coast (Per Barrel)' of $22.42 . Compared to the current estimate, the company reported $8.71 in the same quarter of the previous year.
Analysts' assessment points toward 'Refining Margins - Central Corridor (Per Barrel)' reaching $26.35 . Compared to the present estimate, the company reported $15.61 in the same quarter last year.
Based on the collective assessment of analysts, 'Chemicals - CPChem Externally Marketed Sales Volumes' should arrive at 5433 millions of pounds. Compared to the current estimate, the company reported 6128 millions of pounds in the same quarter of the previous year.
The average prediction of analysts places 'Refining operations - Central Corridor - Capacity utilization (percent)' at 95.1%. The estimate compares to the year-ago value of 104.0%.
The consensus estimate for 'Refining operations - Central Corridor - Crude oil processed' stands at 754.31 thousands of barrels of oil per day. Compared to the present estimate, the company reported 550.00 thousands of barrels of oil per day in the same quarter last year.
Analysts forecast 'Refining operations - Central Corridor - Crude oil capacity' to reach 793.00 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 531.00 thousands of barrels of oil per day.
View all Key Company Metrics for Phillips 66 here>>>Shares of Phillips 66 have demonstrated returns of +20% over the past month compared to the Zacks S&P 500 composite's +0.2% change. 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 >>>> .