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Phillips 66 (NYSE:PSX ) Q1 2025 Earnings Conference Call April 25, 2025 12:00 PM ET Company Participants Jeff Dietert - Vice President, Investor Relations Mark Lashier - Chairman and Chief Executive Officer Kevin Mitchell - Executive Vice President and Chief Financial Officer Brian Mandell - Executive Vice President, Marketing and Commercial Richard Harbison - Executive Vice President, Refining Don Baldridge - Executive Vice President, Midstream and Chemicals Conference Call Participants Doug Leggate - Wolfe Research John Royall - JPMorgan Roger Read - Wells Fargo Manav Gupta - UBS Neil Mehta - Goldman Sachs Theresa Chen - Barclays Jean Ann Salisbury - Bank of America Joe Laetsch - Morgan Stanley Matthew Blair - Tudor, Pickering, Holt Ryan Todd - Piper Sandler Paul Cheng - Scotiabank Operator Welcome to the First Quarter 2025 Phillips 66 Earnings Conference Call. My name is Emily, and I'll be your operator for today's call.

The headline numbers for Phillips 66 (PSX) give insight into how the company performed in the quarter ended March 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Lower realized refining margins worldwide hurt PSX Q1 earnings.

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 1% on Friday.

Phillips 66 (NYSE:PSX) delivered a wider-than-expected loss for the first quarter due to lower refining margins and extensive maintenance and turnaround activities, sending its shares lower in early trade on Friday. It reported an adjusted loss per share of $0.90 for the quarter, greater than the loss per share of $0.72 expected.

Shares of Phillips 66 (PSX), under pressure from activist Elliott Investment Management, fell Friday after the energy firm posted a wider-than-expected adjusted loss.

Phillips 66 (PSX) came out with a quarterly loss of $0.90 per share versus the Zacks Consensus Estimate of a loss of $0.77. This compares to earnings of $1.90 per share a year ago.

Phillips 66 reported a bigger-than-expected first-quarter loss on Friday, as lower refining margins amid a widespread maintenance and turnaround activity across the U.S. refining sector weighed on its performance.

HOUSTON--(BUSINESS WIRE)--Phillips 66, a leading integrated downstream energy provider, announced first-quarter earnings.

HOUSTON--(BUSINESS WIRE)--Phillips 66 sent a letter from the Independent Directors of the Board to the Company's shareholders and to independent proxy advisors.