Phillips 66 Full Year 2022 Earnings: EPS Misses Expectations
Phillips 66 (NYSE:PSX) Full Year 2022 Results
Key Financial Results
Revenue: US$170.0b (up 53% from FY 2021).
Net income: US$11.0b (up by US$9.72b from FY 2021).
Profit margin: 6.5% (up from 1.2% in FY 2021). The increase in margin was driven by higher revenue.
EPS: US$23.38 (up from US$2.97 in FY 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Phillips 66 EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.4%.
Looking ahead, revenue is expected to fall by 11% p.a. on average during the next 3 years compared to a 5.8% decline forecast for the Oil and Gas industry in the US.
Performance of the American Oil and Gas industry.
The company's shares are down 12% from a week ago.
Before we wrap up, we've discovered 3 warning signs for Phillips 66 (1 is a bit unpleasant!) that you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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