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Phillips 66 PSX Q1 2026 earnings

Reported April 29, 2026 · Before market open

Revenue$33.0BMiss by $2.9BDiluted EPS$0.49Beat by $1.03
Revenue estimate$35.9B
EPS estimate-$0.54

Next report

Aug 5, 2026 (In 3 weeks)
Revenue estimate$43.5B
EPS estimate$6.99

Financials

Q1 2026

Income statement

See full
Revenue$32.5B+6.9%
Gross profit$3.3B+20.0%
Net income$207.0M-57.5%
EPS (diluted)$0.51-56.8%

Balance sheet

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Cash & equivalents$5.2B+246%
Total equity$28.5B+4.6%
Total assets$84.1B+17.0%

Cash flow

See full
Operating cash flow-$2.3B-1,311%

Valuation & ratios

Valuation

as of 07/09/26
See full
Market cap$75.3B+45.0%
P/E18.3×-9.7×
P/S0.6×+0.2×

Profitability

See full
Gross margin12.5%+3.4pp
Net margin3.1%+1.7pp

Returns & leverage

See full
Return on equity14.8%+8.3pp
Current ratio1.1×-0.1×

Segments

By segment

See full
Refining$22.5B+41.9%
Midstream$5.5B+1.2%
Renewable Fuels$1.5B+2.5%
Chemicals-—

By product

See full
Refined petroleum products and renewable fuels$24.9B+11.8%
Natural gas liquids and natural gas$4.5B+0.8%
Crude oil resales$4.3B+39.4%
Services and other-$1.2B-310%

Versus estimates

Revenue

Q1 2026$33.0BMiss by $2.9B
Q4 2025$36.3BBeat by $2.5BQ3 2025$35.0BBeat by $1.4BQ2 2025$33.3BBeat by $41.9MQ1 2025$30.4BMiss by $1.3BQ4 2024$33.7BMiss by $639.7M

Diluted EPS

Q1 2026$0.49Beat by $1.03
Q4 2025$2.47Beat by $0.32Q3 2025$2.52Beat by $0.38Q2 2025$2.38Beat by $0.66Q1 2025-$0.90Miss by $0.18Q4 2024-$0.15Miss by $1.38

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Questions, answered.

When did Phillips 66 report Q1 2026 earnings?
Phillips 66 (PSX) reported Q1 2026 earnings on April 29, 2026 before market open.
What were Phillips 66's Q1 2026 revenue and EPS?
Phillips 66 reported revenue of $33.0B and diluted EPS of $0.49 for Q1 2026.
Did Phillips 66 beat estimates in Q1 2026?
Revenue missed the consensus estimate of $35.9B by $2.9B. EPS beat the consensus estimate of $-0.54 by $1.03.
How did Phillips 66's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.5% from $30.4B a year earlier.
Where can I find Phillips 66's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001534701-26-000020) and the 10-Q periodic report (0001534701-26-000022) directly on SEC EDGAR. The filing index links above go to sec.gov.