Phillips 66 has recently released its 10-Q report, providing an insight into its operations and financial performance. The company operates as an energy manufacturing and logistics firm, with operations in the United States, the United Kingdom, Germany, and internationally. It operates through five segments: Midstream, Chemicals, Refining, Marketing and Specialties (M&S), and Renewable Fuels.
In the third quarter of 2025, Phillips 66 reported earnings of $133 million and cash provided by operating activities of $1.2 billion. The company received $838 million from net debt borrowings, funded capital expenditures and investments of $541 million, paid $484 million of dividends to common stockholders, and repurchased $267 million of common stock. As of September 30, 2025, the company had total assets of $76.1 billion and ended the quarter with $2 billion of cash and cash equivalents, including cash classified within assets held for sale, and $5.2 billion of total committed capacity available under its credit facilities.
Phillips 66's strategic priorities through year-end 2027 include focusing on creating shareholder value, driving disciplined growth and returns, and maintaining financial strength and flexibility. The company aims to return greater than 50% of net cash provided by operating activities to shareholders through share repurchases and dividends. It also plans to maintain total annual capital expenditures and investments of approximately $2.5 billion, including capital related to consolidation of WRB as of October 1, 2025.
In the third quarter of 2025, the company's Midstream segment reported income before income taxes of $697 million, the Chemicals segment reported $176 million, the Refining segment reported a loss of $518 million, the M&S segment reported $251 million, and the Renewable Fuels segment reported a loss of $43 million. Net income attributable to Phillips 66 in the third quarter of 2025 was $133 million, compared with $346 million in the third quarter of 2024.
Sales and other operating revenues decreased by 3% and 10% for the three and nine months ended September 30, 2025, respectively. Purchased crude oil and products decreased by 6% and 12% for the same periods, primarily due to lower prices for crude oil, NGL, and refined petroleum products.
Following these announcements, the company's shares moved -1.3%, and are now trading at a price of $133.66. For more information, read the company's full 10-Q submission here.
