Phillips 66 (NYSE:PSX) Files An 8-K Results of Operations and Financial ConditionItem 2.02 Results of Operations and Financial Condition.
On February 2, 2018, Phillips 66 issued a press release announcing the company's financial and operating results for the quarter ended December 31, 2017. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference. Additional financial and operating information about the quarter is furnished as Exhibit 99.2 hereto and incorporated herein by reference.
The information in this report and the exhibits hereto shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
|
99.1 |
Press release issued by Phillips 66 on February 2, 2018. |
|
|
99.2 |
Supplemental financial and operating information. |
Phillips 66 ExhibitEX-99.1 2 psx-20171231_ex991.htm EXHIBIT 99.1 Exhibit Phillips 66 Reports Fourth-Quarter Earnings of $3.2 Billion (Adjusted Earnings of $548 Million) Exhibit 99.1Phillips 66 Reports Fourth-Quarter Earnings of $3.2 Billionor $6.25 Per ShareAdjusted earnings of $548 million or $1.07 per shareHighlightsFourth Quarter•Generated $1.9 billion in cash from operations•Returned $816 million to shareholders through dividends and share repurchases•Achieved 100 percent capacity utilization in Refining•Reached mechanical completion at CPChem’s Cedar Bayou world-scale ethane cracker•Completed $2.4 billion dropdown to Phillips 66 Partners •Announced $2.3 billion 2018 capital budgetFull-Year 2017•Achieved record-low recordable injury rate•Delivered $5.1 billion of earnings and $2.3 billion of adjusted earnings•Generated $3.6 billion of operating cash flow•Returned $3.0 billion to shareholders through dividends and share repurchases•Increased quarterly dividend 11 percent to $0.70 per common share•Achieved 95 percent capacity utilization in Refining during heavy turnaround year•Started up the Bakken Pipeline and commissioned additional storage at the Beaumont Terminal•Reached commercial operations at CPChem’s Old Ocean polyethylene unitsHOUSTON,…To view the full exhibit click here
About Phillips 66 (NYSE:PSX)
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP. The Midstream segment consists of three business lines: Transportation, DCP Midstream and NGL. The Midstream segment also transports crude oil and other feedstocks to refineries and other locations, and delivers refined and specialty products to market, and provides storage services for crude oil and petroleum products. The Chemical segment manufactures and markets petrochemicals and plastics. The refining segment buys, sells and refines crude oil and other feedstocks into petroleum products. The M&S segment purchases for resale and markets refined petroleum products.