FX.co ★ Phillips 66 Q4 Profit Decreases, but beats estimates

Phillips 66 (PSX) posted a profit for their fourth quarter, which, while lower than last year's, exceeded Wall Street predictions. The company's net income was $1.26 billion, or $2.86 per share, contrasted with $1.88 billion, or $3.97 per share, in the previous year's fourth quarter.

When excluding exceptional items, Phillips 66 reported an adjusted earnings of $1.36 billion or $3.09 per share for the period. On average, analysts had anticipated the company would earn $2.34 per share, as compiled by Thomson Reuters. These estimates typically don't take into account any special items.

Here's a summary of Phillips 66’s fourth quarter earnings based on Generally Accepted Accounting Principles (GAAP):

Earnings for Q4 were at $1.26 billion, down from $1.88 billion compared to the previous year. Earnings Per Share (EPS) for Q4 were at $2.86, down from $3.97 compared to the previous year. The predictions from analysts stood at a $2.34 EPS.