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2025-10-29 19:12:48
[Strong Refining Margins Rebound, Phillips 66's Better-than-Expected Results Ignite the Sector] ⑴ Phillips 66's third-quarter profit exceeded Wall Street expectations, primarily driven by strong refining margins. ⑵ US refinery quarterly profit margins have jumped by an average of about 25% from multi-year lows, indicating a clear industry recovery. ⑶ The company's profit margin rose 46% from $8.31 per barrel in the same period last year to $12.15 per barrel. ⑷ Adjusted earnings in the refining division reached $430 million, turning around from a loss of $67 million in the same period last year. ⑸ Adjusted earnings per share were $2.52, significantly exceeding the average analyst expectation of $2.17. ⑹ Profit margins of top US refiners are continuing to recover from last year's lows, indicating a significant improvement in industry sentiment. ⑺ Valero Energy's better-than-expected results last week also confirm the overall recovery trend in the refining sector.
