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Phillips 66 PSX Q2 2025 earnings

Reported July 25, 2025 · Before market open

Revenue$33.3BBeat by $41.9MDiluted EPS$2.38Beat by $0.66
Revenue estimate$33.3B
EPS estimate$1.72

Next report

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

Financials

Q2 2025

Income statement

See full
Revenue$33.3B-12.6%
Gross profit$4.2B+21.3%
Net income$877.0M-13.6%
EPS (diluted)$2.15-9.7%

Balance sheet

See full
Cash & equivalents$1.1B-57.0%
Total equity$27.5B-6.7%
Total assets$75.9B0.0%

Cash flow

See full
Operating cash flow$845.0M-59.7%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$48.67B-19.6%
P/E28.3×+16.5×
P/S0.4×0.0×

Profitability

See full
Gross margin10%-1.0pp
Net margin1.3%-2.1pp

Returns & leverage

See full
Return on equity6%-11.2pp
Current ratio1.1×-0.1×

Segments

By segment

See full
Refining$18.7B-19.1%
Midstream$5.1B+16.3%
Renewable Fuels$1.6B+7.6%
Chemicals-—

By product

See full
Refined petroleum products and renewable fuels$24.2B-13.8%
Crude oil resales$4.2B-29.7%
Natural gas liquids and natural gas$4.1B+13.8%
Services and other$885.0M+55.3%

Versus estimates

Revenue

Q1 2026$33.0BMiss by $2.9BQ4 2025$36.3BBeat by $2.5BQ3 2025$35.0BBeat by $1.4B
Q2 2025$33.3BBeat by $41.9M
Q1 2025$30.4BMiss by $1.3BQ4 2024$33.7BMiss by $639.7M

Diluted EPS

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

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Questions, answered.

When did Phillips 66 report Q2 2025 earnings?
Phillips 66 (PSX) reported Q2 2025 earnings on July 25, 2025 before market open.
What were Phillips 66's Q2 2025 revenue and EPS?
Phillips 66 reported revenue of $33.3B and diluted EPS of $2.38 for Q2 2025.
Did Phillips 66 beat estimates in Q2 2025?
Revenue beat the consensus estimate of $33.3B by $41.9M. EPS beat the consensus estimate of $1.72 by $0.66.
How did Phillips 66's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 12.5% from $38.1B a year earlier and diluted EPS grew 3.0% from $2.31.
Where can I find Phillips 66's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0001534701-25-000137) directly on SEC EDGAR. The filing index links above go to sec.gov.