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0:00 / 0:00I. Executive Overview and Strategic Priorities
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Phillips 66 Delivers $7B Earnings Despite 36% Drop, Boosts Shareholder Returns to $13-15B Goal

PSX10-KFiling Date: 2/21/2024
Phillips 66
Description

What this story covers

Phillips 66's 2023 10-K shows 7 point 0 billion dollars net income, down from 11 point 0 billion dollars due to lower refining margins. Strong 7 point 0 billion dollars operating cash supported 4 point 0 billion dollars buybacks and 1 point 9 billion dollars dividends. Key priorities: NGL growth via DCP mergers, San Francisco renewables conversion, and 13 to 15 billion dollars shareholder returns through 2024. Segments resilient with 92 percent refining utilization; liquidity solid at 3 point 3 billion dollars cash. Risks include volatility and regulations.

Story snapshot

CompanyPhillips 66
TickerPSX
VariantStandard detailed
Duration14:47
Filing type10-K
PeriodAnnual 2023
IndustryEnergy
Accession0001534701-24-000078

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