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Phillips 66 Beats Estimates as Refining Margins Rebound From 2024 Lows
Market Intelligence Analysis
AI-Powered
Why This Matters
Phillips 66 exceeded Q4 estimates with a strong rebound in refining margins, driven by a 45% year-over-year increase in the 3-2-1 crack spread, resulting in improved earnings and net operating cash flow.
Market Impact
Market impact analysis based on bullish sentiment with 90% confidence.
Sentiment
Bullish
AI Confidence
90%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
Houston, Texas-based refiner Phillips 66 (NYSE:PSX) has exceeded Wall Street estimates for the fourth quarter as U.S. refining margins posted a strong rebound from 2024 lows. Phillips posted Q4 EPS of $2.47, $0.32 above the Wall Street consensus, while fourth quarter earnings of $2.91 billion represented a big jump from third quarter earnings of $133 million, and also generated $2.8 billion of net operating cash flow. Refinery margins for the quarter, measured by the 3-2-1 crack spread, improved 45% Y/Y on average thanks to a rebound in product…
Original article published by
OilPrice.com
on February 4, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.