Form 8-K · Current report
Phillips 66 8-K, filed Oct 28, 2026
- Filed
- CIK
- 0001534701
- Accession no.
- 0001534701-26-000035
Summary
Phillips 66 reported third-quarter 2026 earnings and adjusted earnings of $5.6 billion, or $14.08 per diluted share, up from $3.8 billion in the prior quarter on higher refining realized margins and volumes. Chairman and CEO Mark Lashier said the company targets returning more than 50% of net operating cash flow to shareholders, and the company reached a final investment decision to proceed with the proposed Western Gateway Pipeline system with an expected in-service date in 2029.
Key points
- Refining utilization was 98% with record Central Corridor processed inputs of 848 MBD, and realized refining margin rose to $38.00 per barrel from $24.08.
- Phillips 66 returned $2.8 billion to shareholders through dividends and share repurchases and reduced total debt by $2.0 billion to $18.5 billion.
- Refining segment pre-tax income rose to $6.0 billion from $3.1 billion, while Renewable Fuels fell to $191 million from $544 million on lower margins.
- The company progressed the Coastal Bend expansion, with initial volumes expected in the fourth quarter of 2026 and full ramp-up to 350 MBD in early 2027.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 2.02Results of Operations and Financial Condition
- 9.01Financial Statements and Exhibits
From the filing
Item 2.02 Results of Operations and Financial Condition. On October 28, 2026, Phillips 66 issued a press release announcing the company's financial and operating results for the quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference. Additional financial and operating information about the quarter is furnished as Exhibit 99.2 hereto and incorporated herein by reference. …
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.