Phillips 66 Q4 Profit Tops Estimates

(RTTNews) - Phillips 66 (PSX) reported fourth-quarter adjusted profit per share of $2.94 compared to a loss of $1.16, prior year. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $1.95, for the quarter. Analysts' estimates typically exclude special items.

Net profit was $1.27 billion or $2.88 per share compared to a loss of $539 million or $1.23 per share. As of Dec. 31, 2021, the company had $8.8 billion of liquidity, reflecting $3.1 billion of cash and cash equivalents and approximately $5.7 billion of total committed capacity under revolving credit facilities. Consolidated debt was $14.4 billion at Dec. 31, 2021.