- Marketing and Specialties reported its strongest quarter since 2022 with $660 million in earnings, including a $100 million timing benefit.
- Midstream generated approximately $1 billion in adjusted EBITDA, showing growth from $500 million in 2021.
- Net debt to capital was 41%, impacted by the $2.2 billion acquisition of Coastal Bend assets.
- Operating cash flow was $845 million, or $1.9 billion excluding working capital impacts.
- Phillips 66 reported second quarter earnings of $877 million or $2.15 per share, with adjusted earnings of $973 million or $2.38 per share.
- Refining assets ran at 98% utilization, the highest since 2018, with clean product yield over 86% and 99% market capture of the refining indicator.
- Returned over $900 million to shareholders through share repurchases and dividends.
- The quarter included a $239 million pretax impact of accelerated depreciation due to the planned cessation of operations at the Los Angeles refinery.
Related items and other data are not available for this feed item.
Dafinchi