HOUSTON (AP) — HOUSTON (AP) — Phillips 66 (PSX) on Friday reported first-quarter earnings of $487 million.
The Houston-based company said it had net income of $1.18 per share. Losses, adjusted for one-time gains and costs, came to 90 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 77 cents per share.
The oil refiner posted revenue of $31.73 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $30.65 billion.
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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 https://www.zacks.com/ap/PSX
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