PHILLIPS 66 (PSX) Financials
Key financial figures for PHILLIPS 66 (Q2 2026).
Phillips 66 reported Q2 2026 GAAP earnings of $3.8 billion ($9.55 diluted EPS), with Refining swinging to $3,086M in adjusted pretax segment earnings on a 96% crude utilization rate and a $24.08/bbl realized refining margin, while cutting total debt by $6.6 billion to $20.6 billion. GAAP earnings of $3,847M ($9.55 diluted EPS) and adjusted earnings of $3,788M ($9.41 adjusted diluted EPS), up sharply from Q1 2026's $207M GAAP / $200M adjusted. Refining was the primary driver: adjusted segment earnings of $3,086M (vs $208M in Q1 2026) on 96% crude utilization, a $24.08/bbl realized margin (more than double Q1 2026's $10.11/bbl), and an 86% clean product yield. All five segments posted positive adjusted earnings: Midstream $785M, Chemicals $404M (Phillips 66's equity share of the CPChem joint venture), Marketing and Specialties $514M, and Renewable Fuels $544M. Figures are for Q2 2026, as Phillips 66 reported them.
- Revenue
- $51.0B
- Net Income
- $3.9B
- EPS
- $9.59
- Total Assets
- $81.8B
- Operating Cash Flow
- $7.3B
Recent quarters
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| Q2 FY2026 | $51.0B | $3.8B | $9.55 | 9.79% | $6.5B |
| Q1 FY2026 | $34.1B | $207M | $0.51 | 8.38% | -$2.8B |
| Q4 FY2025 | $34.0B | $2.9B | $7.17 | 4.4% | $2.1B |
| Q3 FY2025 | $34.5B | $133M | $0.32 | 2.61% | $637M |
| Q2 FY2025 | $33.2B | $877M | $2.15 | 3.27% | $258M |
Recent fiscal years
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| FY2025 | $132.2B | $4.4B | $10.79 | 2.66% | $2.7B |
| FY2024 | $143.1B | $2.1B | $4.99 | 1.62% | $2.3B |
| FY2023 | $147.3B | $7.0B | $15.45 | 5.61% | $4.6B |
Frequently asked questions
What was Phillips 66's revenue last quarter?
Phillips 66 reported revenue of $51.00 billion for Q2 FY2026, up 53.7% from the same period a year earlier.
Is Phillips 66 profitable?
Yes. Phillips 66 reported net income of $3.85 billion for Q2 FY2026, a net margin of 7.54% on revenue.
How has Phillips 66's margin trended?
Operating margin was 9.79% in Q2 FY2026, compared with 3.27% in the same period a year earlier. The quarter by quarter series is on the SentiSense financials page.
How much free cash flow did Phillips 66 generate?
Phillips 66 generated free cash flow of $6.53 billion in Q2 FY2026, after capital expenditure.
Full income statement, balance sheet and cash flow for PHILLIPS 66 on SentiSense, with up to forty quarters and twenty fiscal years of history.