Phillips 66 Full Year 2024 Earnings: EPS Misses Expectations

Phillips 66 (NYSE:PSX) Full Year 2024 Results

Key Financial Results

• Revenue: US$143.2b (down 2.9% from FY 2023).
• Net income: US$2.11b (down 70% from FY 2023).
• Profit margin: 1.5% (down from 4.8% in FY 2023).
• EPS: US$5.02 (down from US$15.56 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Phillips 66 EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 22%.

The primary driver behind last 12 months revenue was the Marketing and Specialties segment contributing a total revenue of US$92.4b (65% of total revenue). Notably, cost of sales worth US$130.0b amounted to 91% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$8.71b (76% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$309.0m. Explore how PSX's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 4.5% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.5%.

Performance of the American Oil and Gas industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You still need to take note of risks, for example - Phillips 66 has 2 warning signs (and 1 which shouldn't be ignored) we think you should know about.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.