Phillips 66 Profit Down 67.6% in 3Q - Modern Distribution Management

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Phillips 66 Profit Down 67.6% in 3Q

Profit for the first nine months increased 37.1 percent.
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Phillips 66 (NYSE: PSX), Houston, TX, an energy manufacturing and logistics company, reported profit for the third quarter of $823 million, up 61.1 percent from the same period a year ago.

Profit was $121 million in the chemicals segment, up 19.8 percent year-over-year. Profit in marketing and specialties decreased 22.1 percent to $208 million. Refining increased to $550 million, up from $177 million the previous year's quarter. Midstream segment profit increased 13.3 percent to $85 million.

In the first nine months, profit increased 37.1 percent to $1.9 billion.

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