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Friday, January 28, 2022

PSX Beats 4Q21 Earnings Estimate -- Shares Drop Almost Four Percent -- January 28, 2022

Maybe this is why, link here

  • Phillips 66 says the cost to maintain / repair its refineries in 2022 will be $800 - $900 million. An anlyst noted this is the highest in the history of the company.

Link here.

Huge beat:

  • EPS: $2.94 vs $1.93 estimate
    • compares to a loss of $1.15 / share a year ago;
  • earnings surprise of 52%
    • revenues: $33.57 estimate vs 22.47 billion estimate

Fuel demand rebound powers Phillips 66 profit beat or go direct to Reuters here

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Tight Gasoline Supply Going Forward

Link to Tom Kool.

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$100 Oil?

From the Chevron CEO, link here.

2 comments:

  1. A huge beat for PSX... and share price goes down 4%... has Mr. Market gone off his meds?

    ReplyDelete
    Replies
    1. I thought the same thing ... but used it as a buying opportunity. But it really is crazy.

      Delete

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