Phillips 66 Profit Up 39% in 1Q

Refining rebounds to boost company's quarterly earnings.

Phillips 66 (NYSE: PSX), Houston, TX, an energy manufacturing and logistics company, reported sales for the first quarter of $23.7 billion. Profit was up 39 percent to $535 million.

Profit was $181 million in the chemicals segment, $141 million in marketing and specialties, $259 million in refining and $77 million in the midstream segment. The company reported a loss of $123 million in corporate and other costs.

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