Phillips 66 posts 4Q profit of $1.15 billion, result tops expectations

MarketsAssociated Press

Phillips 66 (PSX) on Thursday reported fourth-quarter profit of $1.15 billion.

The Houston-based company said it had net income of $2.05 per share. Earnings, adjusted for non-recurring gains, were $1.63 per share.

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The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The oil refiner posted revenue of $35.61 billion in the period.

Phillips 66 shares have dropped nearly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has declined almost 3 percent. The stock has declined almost 9 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSX at http://www.zacks.com/ap/PSX

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Keywords: Phillips 66, Earnings Report