Phillips 66 (PSX)

The company now

Phillips 66 reported third-quarter 2026 earnings of $5.6 billion on 28 October, or $14.08 per share, against $133 million in the same quarter of 2025 1. Refining did most of the work: the segment earned $6.0 billion before tax, up from $3.1 billion in the second quarter, on higher realized margins and volumes 1.

The company said its margins rose mainly because market crack spreads widened, the gap between what crude costs and what gasoline and diesel sell for 1. Its refineries ran at 98 percent of capacity, and the Central Corridor plants processed a record 848 thousand barrels a day 1. The second quarter had already been strong, with earnings of $3.8 billion after a first quarter of $207 million 3.

The cash went to debt and to shareholders: total debt fell by $2.0 billion to $18.5 billion in the quarter, and $2.8 billion went out in dividends and buybacks 1. On 16 October the board raised the quarterly dividend to $1.33 per share, its second increase of 2026 10. The open questions are the appeal of the Propel Fuels judgment and the start of the Coastal Bend expansion, with first volumes expected in the fourth quarter of 2026 61.

As of Oct 28, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.

Newer filings are on file since this was written; an update is queued.