Phillips 66 is a diversified energy manufacturing and logistics company that focuses on the refining, transportation, and marketing of petroleum products
The company operates a network of refineries that produce a wide range of fuels and petrochemical products, contributing to the energy supply chain. Additionally, Phillips 66 is involved in the development of midstream and downstream activities, including the transportation of crude oil and refined products through pipelines and terminals. The company's operations emphasize safety, reliability, and environmental stewardship as they meet the energy needs of their customers while fostering innovation in energy technologies.
The refiner reported fourth-quarter net earnings of $8 million, or $0.01 per share, compared with $346 million, or $0.82 per share in profit, last year.
Major stock indices have completed their recovery following Monday's sharp drop, buoyed by tech stocks rallying on the back of solid earnings and positive macroeconomic data. The S&P 500 index stands at 6,118 points at midday trading in New York, not far from the all-time high of 6,128 points reached last Friday.
Phillips 66 reported a decline in Chemicals segment income and improved loss in Refining segment, with plans to return cash to shareholders and reduce debt.
Phillips 66 to acquire EPIC NGL business for $2.2 billion in cash. Assets include fractionators, pipelines, and plans for expansion, increasing earnings per share.
Trump's energy plans could reshape US markets with potential tariffs, increased production, and LNG exports. Goldman Sachs breaks down winners and losers.
2024 hurricane season continues with deadly storms, threatening the Gulf Coast and potentially impacting companies such as Exxon Mobil, Chevron and Generac.
Wall Street took a breather on Tuesday, with most major indices treading water, while tech stocks saw gains as investors braced for earnings reports from mega-cap companies.
