The upcoming report from Phillips 66 (PSX) is expected to reveal quarterly earnings of $2.07 per share, indicating an increase of 1.5% compared to the year-ago period. Analysts forecast revenues of $30 billion, representing a decline of 17% year over year.
The consensus EPS estimate for the quarter has been revised 20% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Phillips 66 metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus estimate for 'Revenues and Other Income- Sales and other operating revenues' stands at $31.24 billion. The estimate indicates a year-over-year change of -12.1%.
Analysts' assessment points toward 'Revenues and Other Income- Equity in earnings of affiliates' reaching $315.92 million. The estimate suggests a change of -42.5% year over year.
The collective assessment of analysts points to an estimated 'Revenues and Other Income- Other income' of $40.03 million. The estimate suggests a change of -52.4% year over year.
Based on the collective assessment of analysts, 'Revenues- Total Refining' should arrive at $16.40 billion. The estimate points to a change of +86.6% from the year-ago quarter.
Analysts predict that the 'Refining operations- Gulf Coast - Crude oil capacity' will reach 529.00 thousands of barrels of oil per day. Compared to the present estimate, the company reported 529.00 thousands of barrels of oil per day in the same quarter last year.
The consensus among analysts is that 'Refining operations- Atlantic Basin/Europe - Crude oil capacity' will reach 537.00 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 537.00 thousands of barrels of oil per day.
The average prediction of analysts places 'Refining operations- Atlantic Basin/Europe - Capacity utilization (percent)' at 92.5%. Compared to the present estimate, the company reported 93.0% in the same quarter last year.
Analysts forecast 'Refining operations- Atlantic Basin/Europe - Crude oil processed' to reach 496.72 thousands of barrels of oil per day. Compared to the current estimate, the company reported 498.00 thousands of barrels of oil per day in the same quarter of the previous year.
It is projected by analysts that the 'Total Petroleum products sales volumes' will reach 2,255.45 thousands of barrels of oil per day. Compared to the present estimate, the company reported 2,294.00 thousands of barrels of oil per day in the same quarter last year.
The combined assessment of analysts suggests that 'Refining operations- West Coast - Crude oil processed' will likely reach 211.74 thousands of barrels of oil per day. Compared to the present estimate, the company reported 230.00 thousands of barrels of oil per day in the same quarter last year.
According to the collective judgment of analysts, 'Refining operations- West Coast - Crude oil capacity' should come in at 244.00 thousands of barrels of oil per day. Compared to the present estimate, the company reported 244.00 thousands of barrels of oil per day in the same quarter last year.
Analysts expect 'Refining operations- Central Corridor - Capacity utilization (percent)' to come in at 97.4%. The estimate is in contrast to the year-ago figure of 100.0%.
View all Key Company Metrics for Phillips 66 here>>>
Phillips 66 shares have witnessed a change of -1.6% in the past month, in contrast to the Zacks S&P 500 composite's +3.6% move. With a Zacks Rank #2 (Buy), PSX is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Phillips 66 (PSX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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