What were Phillips 66's second-quarter adjusted net income and earnings per share, and how did they compare to analyst expectations and prior-year results?

Phillips 66 reported second-quarter adjusted net income of $3.8 billion, or $9.41 per share, significantly exceeding the market expectation of $7.02 per share and representing a 34% year-over-year increase.

Which business segment drove Phillips 66's dramatic profit surge in Q2, and what were the key performance metrics for that segment?

The refining business was the core engine of the surge, with adjusted pre-tax profit soaring from $208 million in Q1 to $3.09 billion in Q2; refinery crude throughput averaged 2.05 million barrels per day, and capacity utilization reached 96%.

Phillips 66 Profit Surges

Aug 11, 2026

Phillips 66 reported a 34% year-over-year surge in Q2 adjusted net profit to $3.8 billion, exceeding market expectations driven by elevated refining margins. The company saw significant improvements across refining, chemical, and renewable fuel segments amidst strong operational utilization.

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Phillips 66 Profit Surges

Phillips 66 Profit Surges

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