HOUSTON — Phillips 66 (PSX) on Friday reported third-quarter profit of $1.58 billion.
On a per-share basis, the Houston-based company said it had profit of $2.90. Earnings, adjusted for non-recurring costs and asset impairment costs, were $3.02 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The oil refiner posted revenue of $26.42 billion in the period.
Phillips 66 shares have climbed 21 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 1.5 percent. The stock has climbed 13 percent in the last 12 months.
Keywords: Phillips 66, Earnings Report