Yahoo Finance Phillips 66 Second Quarter 2024 Earnings: Beats Expectations
Phillips 66 (NYSE:PSX) Second Quarter 2024 Results
Key Financial Results
Revenue: US$38.1b (up 8.7% from 2Q 2023).
Net income: US$1.02b (down 40% from 2Q 2023).
Profit margin: 2.7% (down from 4.8% in 2Q 2023). The decrease in margin was driven by higher expenses.
EPS: US$2.40 (down from US$3.73 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Phillips 66 Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 9.7%. Earnings per share (EPS) also surpassed analyst estimates by 19%.
Looking ahead, revenue is expected to decline by 6.1% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.4%.
Performance of the American Oil and Gas industry.
The company's shares are up 2.1% from a week ago.
Risk Analysis
Before you take the next step you should know about the 2 warning signs for Phillips 66 that we have uncovered.
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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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