Phillips 66 (PSX) Form 8-K — Oct 28, 2026
Phillips 66 reported third-quarter 2026 earnings and adjusted earnings of $5.6 billion, or $14.08 per diluted share, up sharply from $3.8 billion in the second quarter, driven by a surge in refining margins to $38.00 per barrel. The company ran its refineries at 98% utilization with a record Central Corridor input of 848 MBD and a record 41% distillate yield, while returning $2.8 billion to shareholders through dividends and buybacks.
Key figures
- Eps
- 14.08
- Revenue
- 50540000000
- Net Income
- 5616000000
- Total Debt
- 18530000000
- Cash Position
- 5848000000
- Net debt
- $12,682 million (down $3.8 billion from Q2)
- Adjusted ebitda
- $8,068 million
- Debt to capital
- 34%
- Refining income
- $6,031 million
- Wellhead volumes
- 4.6 Bcf/D
- Adjusted earnings
- $5.6 billion
- Clean product yield
- 86%
- Net debt to capital
- 26%
- Shareholder returns
- $2.8 billion ($2,273M buybacks + $504M dividends)
- Adjusted eps diluted
- 14.08
- Capital expenditures
- $680 million
- Refining utilization
- 98%
- Midstream fractionation
- 1 MMBD
- Record distillate yield
- 41%
- Cash flow from operations
- $7,281 million
- Realized refining margin per bbl
- 38
- Central corridor processed inputs mbd
- 848
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