Phillips 66 Q2 Profit Increases, beats estimates

(RTTNews) - Phillips 66 (PSX) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $3.17 billion, or $6.53 per share. This compares with $296 million, or $0.66 per share, in last year's second quarter.

Excluding items, Phillips 66 reported adjusted earnings of $3.29 billion or $6.77 per share for the period.

Analysts on average had expected the company to earn $5.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Phillips 66 earnings at a glance (GAAP) :

-Earnings (Q2): $3.17 Bln. vs. $296 Mln. last year. -EPS (Q2): $6.53 vs. $0.66 last year. -Analyst Estimate: $5.78