Phillips 66 reports sharp rise in quarterly earnings and EBITDA
Phillips 66 posted GAAP earnings of USD 3.85 billion, swinging from USD 207 million in the prior quarter.
GAAP diluted EPS rose to USD 9.55 from USD 0.51 in 1Q 2026.
Non-GAAP adjusted earnings were USD 3.79 billion; non-GAAP adjusted EBITDA climbed to USD 5.89 billion from USD 1.23 billion.
Cash flow from operations swung to USD 7.26 billion from USD (2.26) billion; debt fell to USD 20.57 billion from USD 27.12 billion.
Mark Lashier said results reflected operational strength; Dos Picos II reached full production, and the Zeus Gas Plant and Coastal Bend fractionator were sanctioned.
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