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What Analyst Projections for Key Metrics Reveal About Phillips 66 (PSX) Q3 Earnings
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The upcoming report from Phillips 66 (PSX - Free Report) is expected to reveal quarterly earnings of $11.97 per share, indicating an increase of 375% compared to the year-ago period. Analysts forecast revenues of $33.72 billion, representing a decline of 3.6% year over year.
The consensus EPS estimate for the quarter has been revised 24% 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 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.
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.
The collective assessment of analysts points to an estimated 'Revenues and Other Income- Sales and other operating revenues' of $33.66 billion. The estimate indicates a year-over-year change of -2.5%.
According to the collective judgment of analysts, 'Revenues and Other Income- Equity in earnings of affiliates' should come in at $303.56 million. The estimate indicates a year-over-year change of -9.9%.
The consensus estimate for 'Total sales and other operating revenues- Renewable Fuels' stands at $859.74 million. The estimate points to a change of -46.6% from the year-ago quarter.
Based on the collective assessment of analysts, 'Refining Margins - Western/Pacific (Per Barrel)' should arrive at $37.59 . The estimate compares to the year-ago value of $12.31 .
The consensus among analysts is that 'Refining Margins - Atlantic Basin/Europe (Per Barrel)' will reach $32.76 . The estimate is in contrast to the year-ago figure of $11.94 .
Analysts expect 'Refining Margins - Gulf Coast (Per Barrel)' to come in at $31.24 . Compared to the current estimate, the company reported $8.74 in the same quarter of the previous year.
Analysts predict that the 'Refining Margins - Worldwide (Per Barrel)' will reach $35.65 . The estimate is in contrast to the year-ago figure of $12.15 .
Analysts' assessment points toward 'Refining Margins - Central Corridor (Per Barrel)' reaching $40.60 . The estimate compares to the year-ago value of $15.82 .
The average prediction of analysts places 'Refining operations - West Coast - Crude oil capacity' at 105.00 thousands of barrels of oil per day. Compared to the present estimate, the company reported 244.00 thousands of barrels of oil per day in the same quarter last year.
The combined assessment of analysts suggests that 'Chemicals - CPChem Externally Marketed Sales Volumes' will likely reach 5799 millions of pounds. The estimate is in contrast to the year-ago figure of 6572 millions of pounds.
It is projected by analysts that the 'Refining operations - Central Corridor - Crude oil capacity' will reach 793.00 thousands of barrels of oil per day. Compared to the current estimate, the company reported 531.00 thousands of barrels of oil per day in the same quarter of the previous year.
Analysts forecast 'Refining operations - Central Corridor - Crude oil processed' to reach 754.70 thousands of barrels of oil per day. Compared to the present estimate, the company reported 549.00 thousands of barrels of oil per day in the same quarter last year.
Over the past month, Phillips 66 shares have recorded returns of +13.9% versus the Zacks S&P 500 composite's -0.8% change. Based on its Zacks Rank #1 (Strong Buy), PSX will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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What Analyst Projections for Key Metrics Reveal About Phillips 66 (PSX) Q3 Earnings
The upcoming report from Phillips 66 (PSX - Free Report) is expected to reveal quarterly earnings of $11.97 per share, indicating an increase of 375% compared to the year-ago period. Analysts forecast revenues of $33.72 billion, representing a decline of 3.6% year over year.
The consensus EPS estimate for the quarter has been revised 24% 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 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.
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.
The collective assessment of analysts points to an estimated 'Revenues and Other Income- Sales and other operating revenues' of $33.66 billion. The estimate indicates a year-over-year change of -2.5%.
According to the collective judgment of analysts, 'Revenues and Other Income- Equity in earnings of affiliates' should come in at $303.56 million. The estimate indicates a year-over-year change of -9.9%.
The consensus estimate for 'Total sales and other operating revenues- Renewable Fuels' stands at $859.74 million. The estimate points to a change of -46.6% from the year-ago quarter.
Based on the collective assessment of analysts, 'Refining Margins - Western/Pacific (Per Barrel)' should arrive at $37.59 . The estimate compares to the year-ago value of $12.31 .
The consensus among analysts is that 'Refining Margins - Atlantic Basin/Europe (Per Barrel)' will reach $32.76 . The estimate is in contrast to the year-ago figure of $11.94 .
Analysts expect 'Refining Margins - Gulf Coast (Per Barrel)' to come in at $31.24 . Compared to the current estimate, the company reported $8.74 in the same quarter of the previous year.
Analysts predict that the 'Refining Margins - Worldwide (Per Barrel)' will reach $35.65 . The estimate is in contrast to the year-ago figure of $12.15 .
Analysts' assessment points toward 'Refining Margins - Central Corridor (Per Barrel)' reaching $40.60 . The estimate compares to the year-ago value of $15.82 .
The average prediction of analysts places 'Refining operations - West Coast - Crude oil capacity' at 105.00 thousands of barrels of oil per day. Compared to the present estimate, the company reported 244.00 thousands of barrels of oil per day in the same quarter last year.
The combined assessment of analysts suggests that 'Chemicals - CPChem Externally Marketed Sales Volumes' will likely reach 5799 millions of pounds. The estimate is in contrast to the year-ago figure of 6572 millions of pounds.
It is projected by analysts that the 'Refining operations - Central Corridor - Crude oil capacity' will reach 793.00 thousands of barrels of oil per day. Compared to the current estimate, the company reported 531.00 thousands of barrels of oil per day in the same quarter of the previous year.
Analysts forecast 'Refining operations - Central Corridor - Crude oil processed' to reach 754.70 thousands of barrels of oil per day. Compared to the present estimate, the company reported 549.00 thousands of barrels of oil per day in the same quarter last year.
View all Key Company Metrics for Phillips 66 here>>>Over the past month, Phillips 66 shares have recorded returns of +13.9% versus the Zacks S&P 500 composite's -0.8% change. Based on its Zacks Rank #1 (Strong Buy), PSX will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .