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Posted: Aug 05, 2026 8:36 AMUpdated: Aug 05, 2026 8:38 AM
Phillips 66 Reports Strong Second-Quarter Results
Tom Davis
Phillips 66 reported strong second-quarter results, with the company earning $3.8 billion and adjusted earnings of $3.8 billion, or $9.41 per share.
The company reduced total debt by $6.6 billion to $20.6 billion and distributed $887 million to shareholders through dividends and stock repurchases. Net debt-to-capital stood at 33%.
Phillips 66 also reported record natural gas liquids fractionation and LPG export volumes, along with strong refining performance. Refining utilization reached 96%, with an 86% clean product yield.
Chairman and CEO Mark Lashier said the results reflect the strength of the company's operations and integrated portfolio, while Phillips 66 remains focused on operating excellence, disciplined capital investment, dividends, share repurchases and debt reduction.
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