Here's What to Expect From Phillips 66's Next Earnings Report
Phillips 66 
PSX, headquartered in Houston, Texas, operates as an energy manufacturing and logistics company. With a market cap of $47.6 billion, the company’s operations include oil refining, marketing, and transportation along with chemical manufacturing and power generation. The leading integrated downstream energy provider is expected to announce its fiscal fourth-quarter earnings for 2024 before the market opens on Friday, Jan. 31.
Ahead of the event, analysts expect PSX to report a profit of $0.82 per share on a diluted basis, down 73.5% from $3.09 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.
For the full year, analysts expect PSX to report EPS of $7.39, down 53.3% from $15.81 in fiscal 2023. However, its EPS is expected to rise 21.5% year over year to $8.98 in fiscal 2025. 
PSX stock has considerably underperformed the S&P 500’s ($SPX) 25.8% gains over the past 52 weeks, with shares down 14.8% during this period. Similarly, it underperformed the Energy Select Sector SPDR Fund’s (XLE) 3.9% gains over the same time frame.
PSX's underperformance is due to fluctuations in commodity prices and increased depreciation charges, expected to rise by $230 million each quarter until the planned shutdown of its Los Angeles refinery by the end of 2025. Weaker cash flow and higher losses in the Renewable Fuels segment also raised concerns about profitability. Additionally, PSX’s refining business is exposed to volatility in input costs, particularly with crude oil.
On Oct. 29, PSX shares closed down more than 4% after reporting its Q3 results. Its adjusted EPS of $2.04 surpassed Wall Street expectations of $1.63.
Analysts’ consensus opinion on PSX stock is moderately bullish, with a “Moderate Buy” rating overall. Out of 19 analysts covering the stock, 12 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and six give a “Hold.” PSX’s average analyst price target is $143.56, indicating a potential upside of 24.6% from the current levels.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
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