Phillips 66 reports results for the quarter ended March 31 - Earnings Summary
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Phillips 66 reported a quarterly adjusted loss of 90 cents per share for the quarter ended March 31, down from $1.90 a year ago. Revenue fell 12.9% to $31.73 billion, slightly above analyst expectations. The company reported a net income of $487 million. Phillips 66 shares dropped 15.2% this quarter and 8.1% year-to-date. Analysts have revised earnings estimates down by 164.4% in the last three months, with a current average rating of "buy". The median 12-month price target is $131.00.
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