Phillips 66 (NYSE:PSX) stock traded lower Wednesday despite reporting second-quarter earnings and revenue that topped Wall Street estimates, as a broad selloff in energy stocks and weaker crude oil prices overshadowed the strong results.
The company reported adjusted earnings of $9.41 per share, beating the analyst consensus estimate of $7.44.
Revenue rose to $52.04 billion, above the consensus estimate of $43.72 billion.
The company's profit surged as higher refining margins, fueled by Middle East conflict-related supply disruptions, boosted U.S. refiners, Reuters reported.
Earnings Snapshot GAAP earnings increased to $3.85 billion, or $9.55 per share, from $207 million, or 51 cents per share, in the first quarter of 2026.
