Form 10-Q · Quarterly report
Phillips 66 10-Q, filed Oct 28, 2026
- Filed
- CIK
- 0001534701
- Accession no.
- 0001534701-26-000037
Summary
Phillips 66 reported third-quarter 2026 net income attributable to the company of $5.6 billion, up from $133 million a year earlier, driven by improved refining margins, and generated $7.3 billion of cash from operations. The company also executed a joint venture agreement and took a final investment decision on the proposed 1,300-mile Western Gateway Pipeline system, and its board declared a quarterly dividend of $1.33 per share.
Key points
- Phillips 66 reported third-quarter 2026 net income attributable to the company of $5.6 billion, compared with $133 million in the third quarter of 2025, primarily due to improved Refining segment realized margins.
- It generated $7.3 billion of cash from operating activities in the third quarter, paid $504 million of common dividends, and repurchased $2.3 billion of common stock.
- During the third quarter, Phillips 66 executed a joint venture agreement and made a final investment decision on the proposed 1,300-mile Western Gateway Pipeline system, owning 49.9% of it.
- In October 2026, the board declared a quarterly cash dividend of $1.33 per common share, a $0.06 increase; in July 2026 it approved a $10 billion increase to the share repurchase authorization.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. MANAGEMENT’S DISCUSSION Executive Overview In the third quarter of 2026, we reported earnings of $5.6 billion and generated $7.3 billion of cash from operations. We had net debt repayments and repurchases of $2.1 billion, funded capital expenditures and investments of $680 million, paid dividends of $504 million to common stockholders and repurchased $2.3 billion of our common stock. The cash provided by operating activities was due to higher earnings, primarily driven by an increase in realized refining margins. As of September 30, 2026, we had $5.8 billion of cash and cash equivalents and $6.4 billion of total committed capacity available under our credit facilities. …
An excerpt of the text as filed with the SEC, cut for length.
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