Phillips 66 Q3 Profit Decreases, misses estimates

(RTTNews) - Phillips 66 (PSX) revealed a profit for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $2.10 billion, or $4.69 per share. This compares with $5.39 billion, or $11.16 per share, in last year's third quarter.

Excluding items, Phillips 66 reported adjusted earnings of $2.07 billion or $4.63 per share for the period.

Analysts on average had expected the company to earn $4.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Phillips 66 earnings at a glance (GAAP) :

-Earnings (Q3): $2.10 Bln. vs. $5.39 Bln. last year. -EPS (Q3): $4.69 vs. $11.16 last year. -Analyst Estimates: $4.76