WASHINGTON (dpa-AFX) - Phillips 66 (PSX) reported earnings for first quarter that decreased from last year
The company's bottom line totaled $487 million, or $1.18 per share. This compares with $748 million, or $1.73 per share, last year.
Phillips 66 earnings at a glance (GAAP) :
-Earnings: $487 Mln. vs. $748 Mln. last year. -EPS: $1.18 vs. $1.73 last year.
Excluding items, loss was $368 million, or $0.90 per share, compared with a profit of $822 million, or $1.90 per share, recorded for the same period last year. On average, analysts polled had expected the firm to report a loss of $0.72 per share, for the quarter. Analysts' estimates typically exclude special items.
Mark Lashier, CEO of Phillips 66, said: 'Our results reflect not only a challenging macro environment, but also the impact from one of our largest-ever spring turnaround programs, managed safely, on-time and under budget. Our assets, not impacted by planned maintenance, ran well.'
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