Phillips 66 reports Q4 EPS $4.00, consensus $4.35

Reports Q4 $4.8B in cash from operations in the fourth quarter of 2022. Excluding working capital impacts, operating cash flow was $2.7B. During the quarter, Phillips 66 repaid $500M of senior notes due April 2023 and DCP Midstream, LP redeemed its $500M Series A preferred units. As of Dec. 31 , the company had $12.8B of liquidity, reflecting $6.1B of cash and cash equivalents and committed capacity available of approximately $5.0 billion under Phillips 66’s revolving credit facility and approximately $1.7B under DCP Midstream, LP’s revolving credit and accounts receivable facilities. The company’s consolidated debt-to-capital ratio was 34% and its net debt-to-capital ratio was 24%. "We are focused on safely and reliably providing energy to meet the world’s growing energy needs. We are on track to deliver $1 billion of annualized savings by year-end 2023. In addition, we continue to grow our NGL business with the integration of DCP Midstream and recently reached an agreement to acquire all public common units. We remain committed to operating excellence and disciplined capital allocation as we execute our strategic priorities."