PSX Jan 2025 70.000 call
| Previous close | 64.20 |
| Open | 64.20 |
| Bid | 56.00 |
| Ask | 60.40 |
| Strike | 70.00 |
| Expiry date | 2025-01-17 |
| Day's range | 64.20 - 64.20 |
| Contract range | N/A |
| Volume | |
| Open interest | 36 |
ZacksPhillips 66 (PSX) Q1 Earnings Miss Estimates
Phillips 66 (PSX) delivered earnings and revenue surprises of -7.32% and 17.35%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
- Reuters
UPDATE 2-Phillips 66 misses first-quarter profit estimates on weaker margins
Refiner margins have scaled back from the peaks achieved after Russia's invasion of Ukraine in 2022, amid a rise in global refining capacity that has led to a drop in fuel prices. The company said its realized margins fell about 47% to $10.91 per barrel in the first quarter from a year earlier, led by nearly a 50% decline in Gulf Coast margins. The decline comes amid a push from activist investor Elliott, which revealed a $1 billion stake in the company last year, to address underperformance in refining and speed up cost cuts.
ReutersPhillips 66 misses first-quarter profit estimates on weaker margins
Refiner margins have scaled back from the peaks achieved after Russia's invasion of Ukraine in 2022, amid a rise in global refining capacity that has led to a drop in fuel prices. The company said its realized margins slumped about 47% to $10.91 per barrel in the first quarter from a year earlier, led by nearly a 50% decline in Gulf Coast margins. Shares of the refiner were down nearly 3% on Friday.
