Phillips 66 Reports Q1 Earnings Amid Market Volatility
Phillips 66 reported first-quarter earnings for 2026 with GAAP net income of $207 million ($0.51/share) and adjusted earnings of $200 million ($0.49/share). The results were impacted by an $839 million mark-to-market loss on hedge positions, but the company returned $778 million to shareholders through dividends and share repurchases while raising its dividend 7%. Management highlighted strong refinery utilization driven by a U.S.-based footprint and strategic logistics.
Tickers: $PSX
Topics: Debt Management Dividend Increase Earnings Refining Operations