Phillips 66 Q4 Profit Decreases, but beats estimates

(RTTNews) - Phillips 66 (PSX) revealed a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $1.26 billion, or $2.86 per share. This compares with $1.88 billion, or $3.97 per share, in last year's fourth quarter.

Excluding items, Phillips 66 reported adjusted earnings of $1.36 billion or $3.09 per share for the period.

Analysts on average had expected the company to earn $2.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Phillips 66 earnings at a glance (GAAP) :

-Earnings (Q4): $1.26 Bln. vs. $1.88 Bln. last year. -EPS (Q4): $2.86 vs. $3.97 last year. -Analyst Estimates: $2.34