HOUSTON (AP) - Phillips 66 (PSX) on Friday reported third-quarter earnings of $712 million.
The Houston-based company said it had net income of $1.58 per share. Earnings, adjusted for non-recurring costs, came to $3.11 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.60 per share.
The oil refiner posted revenue of $27.77 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $28.31 billion.
Phillips 66 shares have climbed 28% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. The stock has climbed 16% in the last 12 months.
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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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