Phillips 66 Reports Third-Quarter Results: Delivers 98% Refining Utilization and Strong Midstream Volumes
Business Wire•28/10/2026•07:00 ET
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Key Highlights
- ➤Q3 earnings $5.6B, or $14.08 per share, versus $3.8B in Q2
- ➤Refining adjusted earnings rose to $6.06B on higher margins and volumes
- ➤98% crude utilization, record Central Corridor inputs of 848 MBD
- ➤Returned $2.8B to shareholders through dividends and share repurchases
- ➤Debt fell $2.0B to $18.5B; net debt dropped $3.8B to $12.7B
Expert Statements
Mark Lashier, Chairman and CEO of Phillips 66
“Phillips 66 delivered strong operating performance in the third quarter and is executing on its financial and operating commitments.”
Mark Lashier, Chairman and CEO of Phillips 66
“Our integrated portfolio, commercial capabilities and focus on continuous improvement enable the company to create value for stakeholders.”
Mark Lashier, Chairman and CEO of Phillips 66
“The company remains steadfast in its disciplined approach to capital allocation.”
Mark Lashier, Chairman and CEO of Phillips 66
“We target returning more than 50% of net operating cash flow to shareholders and delivering attractive, sustainable dividend growth across commodity cycles.”
Mark Lashier, Chairman and CEO of Phillips 66
“Our recently announced second dividend increase of 2026 reinforces the company’s commitment to prudent long-term returns of capital.”
Phillips 66 Reports Third-Quarter Results: Delivers 98% Refining Utilization and Strong Midstream Volumes
* Reported third-quarter earnings and adjusted earnings of $5.6 billion or $14.08 per share
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