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Phillips 66 posts 3Q profit of $1.18 billion, result tops expectations

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HOUSTON — Phillips 66 (PSX) on Wednesday reported earnings of $1.18 billion in its third quarter.

The Houston-based company said it had net income of $2.09 per share. Earnings, adjusted for non-recurring gains, were $2.02 per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.

The oil refiner posted revenue of $41.05 billion in the period.

Phillips 66 shares have climbed nearly 2 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 8 percent. The stock has risen 24 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. PSX stock research report from Zacks.

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Keywords:Phillips 66,Earnings Report

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