The company said it reported earnings of $207 million ($0.51 per share) and adjusted earnings of $200 million ($0.49 per share) for Q1 2026. In Q4 2025, earnings were $2,906 million and adjusted earnings were $1,002 million.

1. 01

   The company said it reported earnings of $207 million ($0.51 per share) and adjusted earnings of $200 million ($0.49 per share) for Q1 2026. In Q4 2025, earnings were $2,906 million and adjusted earnings were $1,002 million.

2. 02

   Phillips 66 said it recorded mark-to-market losses of $839 million in Q1 on short derivative positions used as economic hedges amid a sharp rise in commodity prices. The company explained that the increase in current market value of the related physical inventory is not reflected in book value under LIFO accounting.

3. 03

   Phillips 66 said Refining crude capacity utilization was 95% and clean product yield was 87% in Q1, with adjusted pre-tax income of $208 million. Realized refining margin was $10.11 per barrel, lower than $12.48 in the prior quarter.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call. Some paragraphs were omitted because their support in the source could not be confirmed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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