Phillips 66 Reports Third-Quarter 2025 Results with Impairments and Special Items

Details

The decline was driven by impairments and special items of $948 million in the Refining segment and $226 million in the Marketing and Specialties segment, primarily related to the Los Angeles Refinery cessation. Adjusted earnings were $1.0 billion or $2.52 per share, up from $973 million or $2.38 per share in Q2 2025. Phillips 66 also furnished supplemental financial information and exhibits including detailed segment performance and reconciliations of non-GAAP measures.

Items reported

About Phillips 66

Phillips 66 is a renowned American multinational energy company involved in refining, transporting, and marketing petroleum products. Engaging primarily as a downstream sector entity, Phillips 66 operates an extensive network of refineries, pipelines, and retail stations across the globe. The company's main function is to refine crude oil into marketable fuels such as gasoline, diesel, and jet fuel, as well as petrochemical products that serve as building blocks for various industrial applications. Additionally, Phillips 66 is known for its logistics and midstream operations, which include pipelines and trucking services that facilitate efficient energy distribution. The company plays a critical role in the energy sector, impacting industries ranging from transportation to manufacturing. By maintaining a strategic focus on safety, environmental stewardship, and operational excellence, Phillips 66 contributes significantly to the global energy supply chain. Established in 1875 and headquartered in Houston, Texas, Phillips 66 continues to provide essential energy solutions while adapting to evolving market dynamics and sustainability demands.