HOUSTON (AP) — HOUSTON (AP) — Phillips 66 (PSX) on Friday reported first-quarter earnings of $748 million.
On a per-share basis, the Houston-based company said it had net income of $1.73. Earnings, adjusted for non-recurring costs, came to $1.90 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.
The oil refiner posted revenue of $36.44 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $31.05 billion.
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