Phillips 66 reports Q3 EPS $2.04, consensus $1.66

Reports as of September 30 the company had $1.6B of cash and cash equivalents and $5.3 B of committed capacity available under credit facilities. “Our employees continue to execute our strategic priorities, deliver strong operating performance and leverage the benefits of our differentiated downstream portfolio,” said Mark Lashier, chairman and CEO of Phillips 66 (PSX). “We have achieved our cost reduction and Midstream synergy targets,” said Lashier. “In addition, we have significantly advanced our asset disposition program with recently announced transactions. Our commitment to operational excellence and disciplined capital allocation continues to create long-term shareholder value.”