The Investor
29 Oct 2025, 14:01
Phillips 66 Delivers Strong Q3 Results, Gains Full Ownership of WRB Refineries
Phillips 66 (NYSE: PSX) reported third-quarter 2025 earnings of $133 million, or $0.32 per share, and adjusted earnings of $1.0 billion, or $2.52 per share. Results included a $241 million pre-tax charge for accelerated depreciation at the Los Angeles Refinery. The company achieved 99% refining utilization with an 86% clean product yield and record midstream throughput, generating $1.2 billion in operating cash flow ($1.9 billion excluding working capital). Phillips 66 completed the acquisition of the remaining 50% stake in WRB Refining LP, securing full ownership of the Wood River and Borger refineries. CEO Mark Lashier highlighted record performance across refining and midstream operations and reaffirmed the company’s focus on shareholder returns and strategic growth initiatives, including the Western Gateway Pipeline and global petrochemical projects.
Phillips 66 (NYSE: PSX) reported third-quarter 2025 earnings of $133 million, or $0.32 per share, and adjusted earnings of $1.0 billion, or $2.52 per share. Results included a $241 million pre-tax charge for accelerated depreciation at the Los Angeles Refinery. The company achieved 99% refining utilization with an 86% clean product yield and record midstream throughput, generating $1.2 billion in operating cash flow ($1.9 billion excluding working capital). Phillips 66 completed the acquisition of the remaining 50% stake in WRB Refining LP, securing full ownership of the Wood River and Borger refineries. CEO Mark Lashier highlighted record performance across refining and midstream operations and reaffirmed the company’s focus on shareholder returns and strategic growth initiatives, including the Western Gateway Pipeline and global petrochemical projects.