Citable filing context
PSX's research view summarizes recent SEC filing context, starting with debt_offering from Aug 21, 2026.
| Filed | Item | Context |
|---|---|---|
| Aug 21, 2026 | debt_offering | Phillips 66 amended its receivables securitization facility, increasing committed capacity to $2B and extending maturity to August 2027. |
| Aug 5, 2026 | earnings | Phillips 66 reported second-quarter 2026 earnings of $3.8 billion, or $9.55 per share. |
| May 14, 2026 | other | Phillips 66 announced voting results from its Annual Meeting of Shareholders held on May 13, 2026. |
| Sep 9, 2025 | Guidance: operational_and_commercial_synergies | not reported to 50.00 |
| Oct 16, 2024 | Guidance: refinery_operations | not reported to not reported |
| Jan 6, 2023 | Guidance: adjusted_ebitda | 1000.00 to not reported |
| Aug 5, 2026 | mda_quarterly | Phillips 66 reported strong second-quarter 2026 earnings of $3.8 billion, supported by $7.3 billion in operating cash flow. Performance was primarily driven by higher realized refining margins, which benefited from tight seasonal product inventories and geopolitical supply constraints, and increased values for regulatory credits in the Renewable Fuels segment. The company’s composite 3:2:1 market crack spread averaged $41.63 per barrel, significantly higher than the $21.65 per barrel recorded in the same period of 2025. Strategic execution remains focused on Midstream and Chemicals growth, with $1.3 billion of the $2.4 billion 2026 capital budget allocated to growth projects. The company continues to prioritize financial flexibility, targeting a reduction in total debt to $17 billion by year-end 2027. Shareholder returns remain a priority, with the Board approving a $10 billion increase to the share repurchase authorization in July 2026. Key risks include ongoing litigation, specifically the Propel Fuels trade secret case, for which the company has accrued $928 million in liabilities following an adverse judgment. Additionally, the company faces potential regulatory and environmental challenges regarding the Dakota Access Pipeline, though recent Record of Decision approvals have mitigated immediate operational threats. Phillips 66 maintains a robust liquidity position, with $4.1 billion in cash and $6.4 billion in available committed credit capacity. |
| Apr 29, 2026 | mda_quarterly | Phillips 66 reported net income attributable to the company of $207 million for the first quarter of 2026, a decrease from $487 million in the prior-year period. This decline was primarily driven by the absence of a $1 billion before-tax gain from the sale of Coop Mineraloel AG in 2025 and lower marketing fuel margins. The refining segment provided a significant offset, returning to a pre-tax income of $208 million from a $937 million loss in Q1 2025, supported by higher composite crack spreads averaging $20.56 per barrel and the absence of accelerated depreciation from the idled Los Angeles Refinery. To maintain liquidity amid geopolitical instability in the Middle East and volatile commodity prices, the company engaged in $7.7 billion of net debt borrowings, increasing cash and cash equivalents by $4 billion. Strategic capital allocation continues to prioritize Midstream and Chemicals growth, highlighted by the acquisitions of WRB Refining LP and Coastal Bend. Material risks include the Propel Fuels litigation, involving an $833 million judgment currently under appeal, and potential contingent equity contributions related to the Dakota Access pipeline. |
Source: SEC EDGAR filing text and events; period Aug 21, 2026; filed Aug 21, 2026.
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