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Phillips 66 Reports Much Higher Q2 2026 Earnings and Utilization

Phillips 66 logoPhillips 66
Sig2.63Sen+6.45Env0.00Soc0.00Gov0.00

Second-quarter 2026 refining utilization reached 96%, up 1% from the prior quarter. Phillips 66 reported total and adjusted earnings of $3.8 billion and about $3.8 billion, up from roughly $200 million in the previous quarter. Midstream, renewable fuels, and chemicals results improved, including higher margins and renewable fuels adjusted EBITDA of $560 million. NGL fractionation rates rose 40,000 b/d to 1.02 million b/d.

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