Phillips 66 Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Phillips 66 (PSX) revealed a profit for second quarter that Decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $877 million, or $2.15 per share. This compares with $1.015 billion, or $2.38 per share, last year.

Excluding items, Phillips 66 reported adjusted earnings of $973 million or $2.38 per share for the period.

Analysts on average had expected the company to earn $1.71 per share. Analysts' estimates typically exclude special items.

Phillips 66 earnings at a glance (GAAP) :

-Earnings: $877 Mln. vs. $1.015 Bln. last year. -EPS: $2.15 vs. $2.38 last year.