Phillips 66 Profit Down 63.2% in 2016

Fourth quarter profit falls 74.9 percent year-over-year.

Phillips 66 (NYSE: PSX), Houston, TX, an energy manufacturing and logistics company, reported profit for 2016 of $1.6 billion, down 63.2 percent compared to the prior year.

Fourth-quarter profit was $163 million, down 74.9 percent year-over-year.

For the midstream segment, the company reported a loss of $1 million for the fourth quarter, compared to a loss of $77 million the prior year. In the chemicals segment, profit for the fourth quarter was down 35.8 percent to $136 million.

Profit for the marketing and specialties segment was down 17.7 percent to $190 million. And the refining segment reported a loss of $38 million, down from a profit of $410 million the same quarter a year ago.

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